When we were discussing how to write a business plan in just a few hours we touched upon the importance of having good business writing skills. Let’s dig deeper into details and find out what are the 5 basic business writing tips that will help you to increase your productivity.
Follow the business plan template
If angel investors are the primary audience of your business plan, than maintaining business plan structure should be your top priority task. Private investors receive literally hundreds of business plans and executive summaries daily. So don’t expect them to read your document from A to Z. Remember, if you do not bother putting appropriate information into appropriate part of a business plan, an investor will be the last person to bother searching for it. In most cases they are just quickly looking for specific buzz words and/or key figures. So if they cannot find these bits because you put them into some another section, consider your business plan a waste of time and efforts.
Write business plan in a simple language
You should avoid complex sentences especially in your executive summary (which doesn’t mean at all writing in a primitive style!)
Technical terms and acronyms are your enemies, too. Of course you should sound professional and prove your knowledge. But in most cases people don’t like feeling ignorant. Thus if you really have to use any industry specific terms and acronyms, make sure you provide brief explanations at the bottom of the page.
Remember, that in majority of cases it is more rewarding to pay attention to your business strategy and competitive analysis – those universal building blocks of business that most business people understand and appreciate, than dive deep into technological aspects.
Keep things cool
If you intend starting your business plan with anything like “the most revolutionary project since invention of a wheel”, stop immediately. This is nothing new. This is boastful. This is not professional. Full stop.
First of all you should respect your reader and recognise his/her intelligence. He/she is able to conclude if your business idea is “great”, “outstanding”, “the most promising” “revolutionary”, “market changing” etc. Presenting things in a neutral style doesn’t mean being boring: the market opportunity you managed to discover should be indeed breathtaking. And then no additional adjectives are needed.
At first describing your product in 1000 symbols might be challenging. But then you start learning to omit unnecessary words and phrases and focus on your subject. And eventually you can be really proud of your writing abilities.
Being brief and straight-to-the-point is highly appreciated among the people whose time is indeed money. So strive to being laconic and yet providing all the key details to your readers.
Do the business reading
Mastering business writing skills is hardly possible without doing enough reading. So make your list of business books and start reading it right through. You’ll not only expand your active business vocabulary (which is absolutely important for writing good business texts) – your horizons as an entrepreneur will expand even more.
So all the best luck with writing your business plans!
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