Business Plan Flexibility

Unlike so many so called business plan experts and Web sites that put business plan writing and development into a neat little box or template, my team understands the need for flexibility in preparing business plans, both in length and the type of detail needed based on a myriad of factors. There are always exceptions to the rule, like a couple of business plans with a celebrity principal with deep pockets that received seven-figure equity commitments from a PowerPoint presentation; but flexibility aside, nearly all companies seeking capital need a concise Executive Summary, a detailed Business Plan to support the Executive Summary, including Financial Forecasts, Financial Analysis, Marketing Plans, Competitive Analysis, Market Share and Penetration, and other key components.

Since investors usually prefer to see an Executive Summary first, and less is often more in a Business Plan until serious interest is evoked, another aspect of flexibility comes into play for many companies such as developing the business plan in phases to save time and money as investors’ interest is gauged and secured। So many factors come into play, so do not fall into the traps of a template or writer's “cookie-cutter” business plan, missing key information, providing too little content in key areas or excess unneeded details in areas that are not important to your business focus.

Yes, flexibility is important, so that you avoid mistakes like completing your plan in a virtual vacuum or hiring a low-cost writer that does not understand the investment community, and make the right decision by hiring a professional expert team that may cost a bit more.