The goal of your business plan should be to generate enough interest to make someone want to set up a follow-up meeting.
Venture capitalists routinely have stacks of business plans to review. Yours needs to stand out by delivering a strong message in the executive summary.
Components of your plan
Your executive summary should:
- Be no more than three to five pages.
- Answer succinctly the basic "who, what, why and how" questions.
- Who is on the team?
- What do you sell and to whom?
- Why do your customers buy your products or services?
- How much money is required?
Your business plan should include:
- Executive summary
- Brief history of the company
- Description of products or services (including detailed value proposition)
- Market overview (including trends and competitive analysis)
- Business model (including evidence to support critical assumptions)
- Operations overview and strategy
- Product development and delivery
- Distribution channels
- Organizational charts and management resumes
- Historical and projected financial statements (including cash flows)
- Description of short and long-term financing requirements
Ironically, our experience has shown that the shorter the plan, the higher the likelihood of success. The concise articulation of a simple but powerful concept is the hallmark of a good business plan.