SILPSESS13V3BPLANCOMPONENTSENGLISHACADS

so now we have understood the importance of a business plan and why an entrepreneur should put in the efforts to make an effective business plan while starting a business having said that we have not yet spoken about the external audience that will be using the business plan what most people do is that they put their business plan into a Word document or an Excel or a presentation and once it becomes very detailed it becomes complicated for people to consume it is important to put down a crisp and simple business plan so that external stakeholders like investors Prudential employees can follow the plan easily your business plan must portray a great vision professionalism and something more meaningful for the person who is reading it but how can this be achieved exactly now let's look at the next segment to understand the various things you must keep in mind while creating a crisp and effective business plan keep the language simple keep it straightforward and also have short sentences I remember once I have read a business plan which contained words like di and K and D is C what did that mean well he was going to say it was double income no kids and double income single child don't assume that everybody knows these acronyms so write the full form of these sentences as if the person does not know what you have written the second one is use adequate tables and charts can you imagine just writing word document pages after pages break this monotony with some kind of tables have some summary tables and also when you are using these tables you could also use some graphs or maybe bar bar diagrams or maybe pie charts I can give you some examples maybe if you are talking about sales over a period of time or maybe the cost structure bar charts are good maybe you are talking about the target customer segment then maybe it could be pie charts if you're talking about your mind and what is it that you want to achieve in the future in a period of time maybe a horizontal bar chart would be good now the next is about the font size and the spacing there is no rule actually about the font size and the spacing but can you imagine reading a story book where the font size is too small or the spacing is nothing similarly even for an external person reading your business plan he needs to you need to make it more readable don't cramp all your material into less number of pages because sometimes you want to have less number of pages because we said you don't need to have more than 20 pages of your business plan so that doesn't mean you have a small font size to fix everything into that 20 pages the font size of 12 is reasonable with adequate spacing maybe one and a half or maybe two and avoid using too many font sizes maybe about two font sizes are okay one for the heading and the rest for and the other for the text now the another part since you're telling a story and your story has to be clear and convincing please put your story in different sections so that you are concentrating about something in that section maybe you are talking about only marketing in one section maybe another section you are talking only about your operational plan but arrange these sections in such a way that gives a clear convincing and an evocative story use page breaks to separate the sections and also have tables on fresh page don't cramp everything together that is the mantra for having a clean look about your business plan and finally proofread and give some kind of finish to the look of your business plan check for items that are going to be repeated sometimes in the business plan when you're telling the story you may have to often keep repeating few things it is alright to repeat it in one or two places but remember at least in one of the sections where it is going to appear where it is important it has to be elaborated there and in all other places you'll have to you may just mention about it it is good to have bullet points because it's an easy read but remember these bullet points must be fleshed out with little more information because just bullet points without any meaning to it is frustrating to read use a spell checker to make sure that you are no spelling errors in your business plan and finally read it again and again to make sure you have made no mistakes

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