If you could start a business plan with “once upon a time”, what would follow? Once upon a time there was a business that offered a value proposition to customers. Or maybe you would write that once upon a time there was a business with a compelling story and investors couldn’t wait to read the details.
A business plan is a business document, but it’s also your chance to tell a story. That story is the tale of your business brand and what you offer in the way of products and services that create marketplace passion and excitement. Unfortunately, many business plans present the minimum amount of detailed information as required, but they lack enthusiasm. When the plan is presented to potential investors, you can bet they will notice this lack of excitement too.
Let’s face it – a business plan has to create a sense of fascination in the products and services. The story you have to tell should echo what customers are saying about the marketplace and their problems and how you will solve those problems. It’s a never ending story about what makes your business idea different and your products or services special. The story characters are the management team and the customers. The plot is all about turning authentic passion for products into a value proposition for consumers. What makes your story unique? Interesting? Fascinating? Remarkable?
A dry business plan that meets minimum requires but doesn’t share the entrepreneur’s motivation for starting or growing the business is doomed to enter the annals of boredom. That’s no way to get investors interested and especially innovative angel investors or venture capitalists looking for exciting new ideas. The story should not be invented or fictional. It must be authentic because it’s your story, your business and your products.
Once upon a time there was a successful business…
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