I enjoy the occasional blog on business plan elements. I feel good ones show many facets that can be beneficially applied to sales proposals.
From their book, Anyone Can Do It, the founders of the Coffee Republic high street chain chart their journey from the initial idea in 1994, to exiting in 2001.
They list five points as essential to cover in a business plan. Their advice is astute, given they wrote three business plans at different times as entrepreneurs.
The first, in 1995, raised £78,000 to open and run their pilot store. Then £600,000 was attracted from an angel investor for their next six stores in November 1996. And thirdly, during Spring 1997, they successfully sought funding for the next 35 shops of around £4.5m.
A worthy track record indeed. And one demanding we listen.
What you plan to do (that great idea that you are passionate about)
Why you think it’ll work given the market, competition and customer demand (include lots of market research you do & express your conviction to convince others here)
Why you are the right person to execute the business plan and bring the concept into reality (your cv and how you propose to deal with any gaps in your experience)
How will your business make money (are your price and volumes high enough to cover all your costs)
How much money you need to get started (your set up costs and the working capital needed to keep your business running)
There’s plenty of crossover here. Does your Prop feature the idea you and your prospect are passionate about? How does it explicitly state why you think it’ll work? Where do you ram home that you and your prospect are the right people to help make it happen? Are the Returns specifically drawn out? And have all the costings been exposed?