Published on January 27th, 2015 | by Jose Vasquez2
Write Your Business Plan like a Story for Startup Tech Companies
Finishing that business plan can be daunting, but writing it like a story can improve the ease of writing it and even make investors more interested.
Writing a business plan is one of the most important steps you’ll go through as an entrepreneur starting out. It’s going to help direct the initial momentum and long-term direction of your business, fundamentally driving your ultimate success or failure. It’s also going to be the primary document you’ll use when seeking funding, mentorship, or any other outside assistance.
The pressure in writing this document comes from its sheer importance. It’s going to be the lifeblood of your company, at least for the first several years, and it’s going to be responsible for whether your investment prospects ultimately choose to invest in your venture.
There are many different approaches you can take to writing your business plan. Some entrepreneurs favor a bulleted structure, hitting the highlights, while others focus on technical documents like spreadsheets and data analyses, and still others attempt the bulk of their plan in a narrative structure.
Given the options, I tend to favor the narrative structure of a business plan. You’ll be able to concisely explain the high points and low points of your entire business model, using external technical documents and research as appendices to back up your points.
To give more body to your narrative structure, imagine you’re writing your business plan as if it is a story. The main characters are going to be you, your team, and your stakeholders, and the plot is going to have a beginning, a middle, and an end. Like with any story, you want to make sure you have addressed adequate challenges along the way. How are you going to respond to these challenges? What directions are you going to take?
If you write your business plan like a story, you’ll be able to explain the purpose and feasibility of your business far easier. That means you’ll be able to convince investors and customers easier, and your business plan will practically write itself.
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