Clarity
A well-written business plan is a vital part of getting your company off the ground. It can attract investors, align teams, and give your business direction.
When writing a business plan, make sure you include the right information and reference authoritative data points. Avoid jargon and keep the document as concise as possible.
Without clarity, strategic planning can be a confusing and time-consuming process. It can also result in miscommunication between different stakeholders, which may lead to conflict and dissent within the organisation.
Conciseness
A good business plan will be concise and to the point. Rather than filling your pages with text you will want to display the information in a format that will stand up to the scrutiny of your investors and stakeholders. A well-crafted executive brief should be accompanied by a series of supporting documents that are easy to understand and follow. For example, a jargon-free financial statement should be accompanied by detailed cash flow statements that can be readily understood by the uninitiated.
Purpose
A good business plan should have a clear and concise goal and objectives. This will act as a guide to help drive the business forward toward success.
A business plan should also outline your market, products or services, and the competition. This will help you determine your competitive advantages and how you plan to differentiate yourself from the rest of your industry.
Cohesiveness
One of the most important elements of a good business plan is its cohesiveness. Whether your business is in the early stages or you’re ready to pitch investors, a cohesive business plan should be easy for everyone on your team to follow.
To promote cohesiveness, you can consider hiring individuals with the right mix of skills and experience to complement each other’s strengths. You can also foster team cohesion through trust and interpersonal relations among your team members.
