Are you constantly being denied funding for your business? Do you feel like your brilliant ideas are getting overlooked? You may be making these three mistakes in your business plan:
Some items in your financial projections are missing.
It’s easy to just focus on revenue and costs, but you could never have too much detail when it comes to finances. Including critical items, such as taxes, capacity, accrual accounting, and best/worst scenarios, will help determine how your business will run.
You’re not receiving feedback.
Have several people read through your business plan Also, be sure to have people review your business plan before you give a pitch. It is very easy for you to glaze over grammatical errors that won’t look professional when you’re presenting your pitch to investors.
You don’t include your business’ unique factors.
One of the purposes of your business plans is to tell your company’s story. You have to ask yourself, “what makes my business special?” Investors, lenders, and CEOs are extremely busy people who read through many business plans, so talk about the assets that make you stand out from the crowd.
Of course, it takes many revisions and patience before getting your business plan just right. The desired funding, attention, and assistance will be so worth the work. Schedule a consultation with Angela Crane-Jones today to help create the business plan you deserve.
Meet Reggie and Tanora Polk, NBIC graduates and the power couple behind Polk & Associates Construction in Nashville, Tennessee. Established in 2011, the firm gained momentum quickly in new construction, tenant improvements, real estate development, facilities maintenance, and civil development.