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Wednesday, July 13, 2016

16 Business Plan Writing tips for Nigerian Entrepreneurs to know about

Here are the 16 business plan writing tips to know

1.      Write the marketing summary first and the executive summary last. This is because the ideas of what your business is and should look like always starts from the market opportunity and potential sales it can record within a given period

2.      Don’t rush your market research because the bulk of your business plan will be assessed by the quality and reliability of your market research

3.      Write a summary of the main points of your business plan in no more than 100 words at the cover page just below the author name, this is akin to a newspaper rider which piques the interest of the reader

4.      Do not write the executive summary beyond 2 pages. The executive summary ought to be a summary of the entire business plan section by section represented by paragraphs, stick to this and you’ll make your business plan easier to understand and save the intended reader valuable time in perusing your business plan

5.      Specify how long the projections in the business plan is intended to cover right from the executive summary and even in the financial plan itself

6.      Use graphics, tables, pictures and other forms of labelling to not only improve the appearance of your business plan but to also demonstrate knowledge of your facts and figures. This can also save the intended reader time because graphical representation of data is brief but detailed

7.      Use references in your business plan. This will tell whoever is reading it that you are not quoting a random source or guessing but actually using proven knowledge to make your projections and analysis

8.      Write in a business friendly tone and not in an academic or informal way. When you do this, the investor or bank can readily see through your tone and appreciate your professional touch and presentation

9.      Compare data from various sources. Your information sources should be as diverse and reliable as possible to make for improved inference

10.  Calculate your figures slowly, it’s better to take 3 or more days to compute very reliable figures than to do a 1 day job shoddily, the financials are very important

11.  Don’t copy and paste other people’s write-ups into your business plans because you might make some illogical and unconnected statements afterwards which would expose you as a copycat and ignorant business person besides not also making your work tidy

12.  Include summary reports in the financial plan to explain the main figures in your projections

13.  Your business profile segment under the company summary and description should be very detailed

14.  Avoid use of highly technical language except where unavoidable but even so providing explanation for terms used

15.  Write confidently, your projections should sound like they’ve already been achieved even if they are 3 or more years away, your language should also show that you have done this

16.  State what you’ll do with the money you want to raise and why you need to raise it


Thank you for visiting my blog and you may also want to read: A guide on how to write a Nigerian Business Plan


Do you need a professionally written business plan? Give me a call right away: 0803 206 4106 or email me: paulonwueme@gmail.com to get one written for you within 10 days