How to write a killer business plan (2/2)

SELL YOURSELF

Not all business plans are written to attract investors, but those that are really need to reel in the money men and make you sound like the next Richard Branson. "You need to excite the reader," says Jones. "Give them something real and viable to believe and invest in. Think maximum impact and minimum fluff." McCausland concurs. "They want to know about your track record," he says, "Even if you've worked in corporate and you've done this project and that project, it all helps give you credibility, because, ultimately, your backers are investing in you:'

KEEP IT BRIEF

"I personally believe a good business plan can be written in three pages," says Jones. "Reveal your passion, drive and determination, plus a clear snapshot of the business." Kaday agrees: "When people hear the term 'business plan' they think of a huge, thumping document, but it doesn't have to be." Kaday believes a key highlight should be your 'elevator speech', your one-line sell about what it is that you do. "Mine is that I help people make their first million," he adds. "That's pretty clear:'

"GIVE YOUR POTENTIAL INVESTORS SOMETHING REAL AND VIABLE TO BELIEVE AND INVEST IN"

KEEP IT PRACTICAL

If your business plan is intended for your own use only, it will work best if it clearly sets out your goals for the next 12 months. "Include things like how you plan on marketing your product," says Kaday, who sold his own marketing company to a US firm in 2001. "That's extremely important; you need to know how much time and money you're going to spend on making people aware of what it is you're selling:' You also need an action plan, a month-by-month breakdown of what it is you're going to do. "It should be possible to write a plan that actually looks like your business is up and running before you've even started," he says.