Business Transparency: Walk the Walk, Don't Just Talk the Talk

We receive many business plans each week, some considered drafts and many final by prospective clients. Rarely do these plans have the needed transparency to be considered by an investor or bank. What is transparency? Simply put, stating you can accomplish certain goals or referencing important background without sources from research let alone from credible third parties just doesn't cut it. Going a step further, if you have invested either time or money in your business, why don't you provide an itemization showing your “skin in the game” as investors will expect?

Bankers and investors will conduct detailed due diligence on any venture they feel is worthwhile. Plus, they receive many opportunities for their consideration. Do you think they would have an interest in a venture where they feel they have to prod and pull teeth to get information or one with precise details that offers additional information upon request in an open book approach?
Business plans are not the only documents that need transparency. In short, to expect success, present your strengths and weaknesses and all pertinent information with as many third party sources and research references as possible. Walk the business plan walk, don't just talk the business plan talk as do many of the principals plans we receive, particularly those using templates.

उसिंग टेम्पलेट्स.