Nothing kills a new business idea faster than wishy-washy numbers.
The primary function of any business plan is to test if your idea is viable and sustainable. It’s an exercise in “proving” your idea to yourself and others. But it also has another key dimension. It can provide you with a way to acquire funding.
Most business plans written today are based on templates, typically downloaded from the Internet. Lenders are familiar with these all too predictable packages – too wordy, badly structured, generic and inexact in their treatment of financial forecasting – and reject them as amateurish, which most of them are.
The result? An often-promising new business idea self-destructs because it lacks credibility when presented to those who can potentially provide the very financing the entrepreneur needs for his or her business to take off. That’s called shooting yourself in the foot.
There are several reasons why Plan2Profit has raised multi hundreds of millions of dollars in funding for its clients over the past 15 years.
Seasoned professionals with business experience write your plan. Our plans are clear, concise, relevant, and modern. They appeal directly to lenders, who are people we know and therefore know what they’re looking for. We’ll also coach you about how to present your plan to them.
Let me tell you what lenders are looking for today in a business plan.
A compelling and defensible financial forecast. Nothing kills a new business idea faster than wishy-washy numbers. Business plan financials have to be realistic and robust. Have you ever heard of the 2 by 1 rule? Most new businesses are twice as costly to launch and half as profitable as even the best financial forecasting predicts. If your idea can meet that test, you might have a winner on your hands.
Of course, we’re only scratching the surface with this issue. There’s a lot more to it than that. This is how and why Plan2Profit can help. With thousands of plans written and at a 95%+ funding success rate, we’re completely confident that we can help you. One final point. We tell the truth. So if your idea just isn’t going to fly, you’ll be the first to know about it. We’re not in the business of helping entrepreneurs throw their money down the drain. And you can take that promise to the bank.
Paul Morgan, Plan2Profit, 1-844-752-6776
