Creating a business plan is an important step for any young business. Since drafting a plan requires putting the goals, growth plans, and marketing strategies of the business down on paper, it forces the business owner to think through many of the elements that can make the business more investor-ready.
But because it is so significant, creating a business plan from scratch can be an intimidating prospect.
Unsure where to start? Check out this insightful infographic from Washington State University. It not only shares why you need a business plan to begin with, but lays out ten essential considerations for outlining and writing a successful one.
On the EarlyShares platform, a company’s business plan is a major key to an investment offering’s performance. Our favorite advice from the WSU piece is to distinguish your business from competitors to enhance your odds of obtaining investment capital. In our experience, that’s critical.
After you read through the infographic, share your advice on building a great business plan with us in the comments. What pointers could you have used when creating your first business plan?