A business plan is a written outline about a whole new project that tends to deliver something new or unique in addition to keeping in mind the economic and practical feasibility of that project.
Having said that these plans about a project should be feasible in all aspects, preparing it would take lot of accurate calculations. So, here are some of the important things to be taken care of while preparing a business plan.
The readers should understand that it is a decision-making tool. So, everything should be accurate, to the point and absolutely possible. For example, the objective of the project should be clearly mentioned and the all aspects in the particular plan should be working towards achieving the object. It should not deviate even one bit. The presentation of the plan should be clearly understandable.
When you prepare a business plan, it is very important that you do not look it from your own perspective. It is the global market that you are going to concentrate when you present a plan. So, try to bring in facts, details and calculations about the competitor in the same field and how your plan is better than the competitor.
The main aim of your plan is to get someone to support your new venture. If you are clear about the competitor and the market, it is invariably true that you will impress the audience.
Another important thing to keep in mind while preparing a business plan is to never make assumptions or to give baseless calculations. The people analyzing your plan are highly qualified and aware of every tiny bit of information you give during your plan presentation.