NEED A PERFECT BUSINESS PLAN?

3 tips for the perfect business plan

• By Jack Preston -
• Jul 30, 2013

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Writing a business plan is something that many young entrepreneurs struggle to get to grips with, although if you’ve been having difficulties getting your head round the task then rest assured you’re in good company.

While Richard Branson may opt for the concise approach when it comes to determining acompany’s purpose (“if it can’t fit on the back of an envelope, it’s rubbish”) or writing up contracts (“I was witnessing one of Richard Branson’s infamous 'deals on the back of an envelope', except this time it was on the back of a Concorde dinner menu.”), he certainly doesn’t take shortcuts when it comes to business plans.

The guys over at iod.com have collected three top tips from leading entrepreneurs, which should hopefully ensure that you’re great idea isn’t left wanting when investors and potential partners come calling.

1. Richard Branson: “Small details. You've got a blank canvas and you’re filling in that canvas, trying to get every single detail right. The grand picture is only as good as all those little details.”

2. Peter Jones (Dragon’s Den): “Make it clear and concise and include hard facts. Think maximum impact and minimum fluff… Reveal your passion, drive and determination plus a clear snapshot of your business. Know your market, your figures and forecasts and the risks involved. Be aware of competition and be able to provide evidence to support your claims. Get to know your figures inside out.”

3. Doug Richards (Schools for Start Ups boss): “Writing a business plan isn't that difficult. There are hundreds of templates around, and hundreds of others have been written that you can examine for reference. Once you've written it, you can hire an editor to help you clean it up so it’s easy to read and makes logical sense.”

Have you got a piece of advice that you’d like to share about creating the perfect business proposal? Let us know below…

Image from gettyimages

By Jack Preston. Senior Content Executive. Tweets at @JackPressedOn