The Best Format For a Business Plan
Transcribed article based on the video above.
So, a lot of people ask me what’s the best format for a business plan? You know, 2 or 3 years ago it was probably more common to write out a long 30 page word document with financial and lots of text. But most folks I know today raise money, and a lot of money for their companies really off a 15 slide, power point deck.
You will hear people refer to, “Hey, send me your business plan deck”. It covers the main questions, such as “What is my product?” Show lots of examples of it, also “Who is on my management team?” or “Who is the competition?” Guess what, people like to look at pictures. Don’t put in a lot of text, put in many examples of the product you’re building.
Talk about big things like the size of the market, who is your competition, who’s on your team, how much money you need to raise, how much money you think you’re going to make. With a fifteen slide power point deck you can typically do everything you could with a forty page business plan and save yourself a lot of time in the process.
Jason Nazar is the co-founder and CEO of Docstoc. He’s a frequent author and speaker on small businesses topics. You can read more of his posts here on Docstoc and at his blogJasonnazar.com.