What are the best ways to make your business plan stand out?

1 Know your audience

Before you start writing your business plan, you need to identify who you are writing it for and what they are looking for. Different audiences may have different expectations, preferences, and criteria for evaluating your business plan. For example, a bank may focus more on your financial projections and risk analysis, while an angel investor may look for your market opportunity and growth potential. Therefore, you need to tailor your business plan to suit your audience's needs and interests, and highlight the aspects that are most relevant and appealing to them.

2 Be clear and concise

A business plan should not be a lengthy or complicated document that confuses or bores your audience. Instead, it should be clear and concise, and communicate your key messages and arguments in a logical and coherent way. You should avoid using jargon, acronyms, or technical terms that your audience may not understand, and explain any concepts or assumptions that may require clarification. You should also use simple and direct language, and avoid vague or ambiguous statements that may raise doubts or questions. A good rule of thumb is to keep your business plan between 10 and 20 pages, and use charts, graphs, or images to illustrate your points and data.

3 Show your passion and personality

A business plan is not only a factual and analytical document, but also a persuasive and personal one. You need to show your audience that you are passionate and enthusiastic about your practice, and that you have the skills, experience, and personality to make it a success. You can do this by telling your story, sharing your vision and mission, and expressing your values and beliefs. You can also use anecdotes, testimonials, or case studies to demonstrate your achievements, challenges, or learnings. By showing your passion and personality, you can connect with your audience on an emotional level, and make them care about your practice and its goals.

4 Highlight your competitive advantage

A business plan should not only describe what your practice does, but also how it does it differently and better than your competitors. You need to highlight your competitive advantage, or the unique value proposition that sets your practice apart from the rest. You can do this by conducting a SWOT analysis (strengths, weaknesses, opportunities, and threats), and identifying your core competencies, niche markets, or innovative solutions. You should also provide evidence or data to support your claims, and show how you can sustain or improve your competitive advantage over time.

5 Validate your assumptions

A business plan should not be based on assumptions, but on facts and research. You need to validate your assumptions, or the hypotheses or predictions that underpin your business plan, by testing them against the market reality and customer feedback. You can do this by conducting market research, customer interviews, surveys, or experiments, and collecting and analyzing data that proves or disproves your assumptions. You should also update your business plan accordingly, and show how you can adapt or pivot your strategies or goals based on the validation results.

6 Seek feedback and review

A business plan is not a static or final document, but a dynamic and evolving one. You need to seek feedback and review your business plan regularly, and make sure it reflects your current situation, goals, and strategies. You can seek feedback from your mentors, peers, advisors, or potential investors or stakeholders, and ask them for their honest and constructive opinions on your business plan. You should also review your business plan yourself, and check for any errors, gaps, or inconsistencies that may affect its quality or credibility. By seeking feedback and review, you can improve your business plan and make it more effective and convincing.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?