Finding Funding, Part 1

Tips for writing a financing-friendly business plan

One of the primary purposes of a business plan is to help youobtain financing for your business. When writing your plan,however, it's important to remember who those financing sourcesare likely to be.

Bankers, investors, venture capitalists and investment advisorsare sophisticated in business and financial matters. How can youensure your plan makes the right impression? These tips arekey:

Avoid hype. While many entrepreneurs tend to be gamblers whobelieve in relying on their gut feelings, financial types arelikely to go "by the book." If your business plan praisesyour idea with superlatives like "one of a kind,""unique" or "unprecedented," your readers arelikely to be turned off. Wild, unsubstantiated promises orunfounded conclusions tell financial sources you are inexperienced,naive and reckless.

Tomorrow: More tips on writing your business plan.

Excerpted from Start Your Own Business: The Only Start-Up GuideYou'll Ever Need

Editor's Pick

Everyone Wants to Get Close to Their Favorite Artist. Here's the Technology Making It a Reality — But Better.
The Highest-Paid, Highest-Profile People in Every Field Know This Communication Strategy
After Early Rejection From Publishers, This Author Self-Published Her Book and Sold More Than 500,000 Copies. Here's How She Did It.
Having Trouble Speaking Up in Meetings? Try This Strategy.
He Names Brands for Amazon, Meta and Forever 21, and Says This Is the Big Blank Space in the Naming Game
Business News

'Wanted by Several Countries.' Crypto Fugitive Is Nabbed in Montenegro.

Do Kwon was wanted in South Korea and the U.S. on fraud charges related to TerraUSD and Luna crash.

Green Entrepreneur

A Massive Hole In the Sun May Cause Dazzling Light Show Here On Earth

NASA says the coronal hole could blast the Earth with solar winds as early as Friday. What does this mean?

Business News

Gen Z Loves the Toyota Camry. Here's What Car Brands Boomers Love Most

S&P Global Mobility provides data on what types of each age group likes the most, based on car registration.


Why Failure is a Choice You Make

Failure is a product of our mind and therefore we determine if it exists or not. Learn more empowering ways to view situations where failure becomes a stepping stone, not a roadblock.

Business News

These Are the Most and Least Affordable Places to Retire in The U.S.

The Northeast and West Coast are the least affordable, while areas in the Mountain State region tend to be ideal for retirees on a budget.