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| | Some Tips Preparing a business plan will generate a lot of thought and a lot of paper! Keep in mind, however, that the final document is a summary of your planning process. You can always refer to your working papers later on to substantiate a particular point. Have your key employees and two or three impartial outsiders review the finished plan in detail. There may be something you overlooked or underemphasized. Also a critical review will be good preparation for your presentation to potential investors and lenders. Consider the Following: limit the plan to 20-25 pages avoid using jargon or technical terminology keep it professional, not extravagant or fancy maintain the focus of presenting the proposal and the need for this business avoid "making the sales pitch’ to your reader be realistic in your goals and objectives, results, growth potential, etc. address the issue of competition and their hold on the market be flexible in your strategies and marketing...not everyone will think you have the idea of the century do not bombard the plan with financial statements...other aspects are equally important assumptions do not equate projections, if you make an assumption, back it up and be realistic do not hide the risks, negatives, pitfalls of the venture, present them professionally and find solutions and ways of dealing with these problems should they arise, before they arise plan in advance for the funding you need and reflect that in your business plan forecast
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