“Ten Things to Look for When Reviewing Your Business Plan”
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Once you have completed your business plan, go back and review your work.
Remember, writing your business plan is a significant step in making your small business concept a reality.
Therefore, you will want to look over the plan carefully and ask others, whom you feel can provide sound advice, to also review the business plan.
Make sure that you have:
1. Included all key sections: Executive summary, business overview, sales and marketing, management team, competitive analysis, and financial plan.
2. Included a table of contents.
3. Covered all key points in clear and concise language.
4. Eliminated any extraneous material, hype or repetitive statements.
5. Fact checked to make sure all data is still accurate and all claims are substantiated.
6. Clearly defined your target market and how you can realistically reach them.
7. Presented a clear competitive analysis that shows how you will gain a competitive edge.
8. Not over-estimated your financial projections or underestimated your timeframe for launching the business. Be conservative with your estimates.
9. Visible contact information on a cover page and at the end of the document.
10. Proofread the entire document carefully for spelling and grammar.
Remember, this document is typically designed to attract investors and also to provide a blueprint for the business.
It should illustrate the goals, objectives, strategies, and means of operations for your business. It should, therefore, be presented in a professional manner.
Neatness and attention to detail indicate that you are serious about this business endeavor.
If the business plan is for your own purposes, to guide you as an entrepreneur, review the plan as though you were reading it six months into the life of your business.
Does it present a full quantifiable picture of the business at a given time? If you can see exactly where the business is at a designated time, you will be able to monitor your progress and make changes accordingly.
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The review business plan contents are solely the opinion of the author and should not be considered as a form of advice, direction and/or recommendation of any kind. If expert advice or counseling is needed, services of a competent professional should be sought. The review business plan author and the Publisher assume no responsibility or liability and specifically disclaim any warranty, express or implied for any products or services mentioned, or any techniques or practices described. The purchaser or reader of this publication assumes responsibility for the use of these materials and information. Neither the author nor the Publisher assumes any responsibility or liability whatsoever on the behalf of any purchaser or reader of these review business plan materials.
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