Typical Investor reviews 500 business plans each year, perhaps more. Of those 500 business plans, the majority are filed, lost or disregarded. Reasons for this are numerous, but Investors commonly complain that many of the business plans they receive are thick, overly ponderous documents. Many Investors will reach for the thin business plans first, finding this strategy most appealing when sifting through several hundred candidates. The ideal length for a business plan, according to many Investors, is 25 pages, with appropriate appendices.
No two business plans look alike—nor should they. While many small businesses launch without a plan in sight, if you are bent on seeking funding, whether from a bank, angel or venture capitalist, you’ll need a business plan.
This task can be agonizing to some entrepreneurs—who fancy discussions about the big picture—and liberating for others—who spend too many wakeful nights counting sheep. To grow and survive, strategic thinking is essential.
In just 60-seconds, we’ll show you how to plan for your business’s future without over planning yourself out of existence.