How to Write a Business Plan that can get you a Loan or a Grant
There are many articles and free templates on “How to Write a Free Business Plan” but let’s face it, the real reason that you write a business plan is to get investors to buy into your idea.
However, in order for them to do so, your idea must stand out from others, serve the needs of a specific niche, and provide specific benefits to a particular community.
If these three things are included in your business plan, you will be much more likely to get funding for your business.
When you are looking for funding, remember that your business plan will be tossed in with hundreds or thousands of other people who are looking for funding and who also meet the same criteria that you do.
This is why your business plan has to be singularly different from other business plans.
Lenders like to get publicity for their program initiatives when they lend or give out money, so they want to give money to new and innovative ideas that will get them in the papers.
This means that you need to sit down and come up with an idea that makes your ordinary product an extraordinary product and that will make the headlines once it is funded.
This doesn’t mean inventing anything new; it just means getting creative with how you sell it and why.
This is the next part of your successful business plan. Aiming your business at a specific market, whether it is determined by age, sex, city, or state will help you get funding if you need it.
For example, a city or group within a city may have specific needs that your product addresses. By showing that your product serves these needs, you may qualify for funding by the way of low-interest loans or grants.
Funding for a business can come from anywhere including local, state, and federal grants as well as private funding if you serve a need or a community which is not currently being met.
Included in your business plan, there should be a section that includes exactly how you are going to provide benefits to your customers. This is more of the nuts and bolts of how to write a business plan.
For example, if you decided to sell computer software, you could offer low-cost seminars to show people how to start their own businesses with this software and become financially independent by working at home.
This is not only a great way to sell and distribute your software, but you can also get government grants to conduct the seminar and pay yourself while you teach people how to use the software you are selling.
A business plan that includes community outreach like this can get funding from multiple sources and help you raise enough start-up capital to make your own business substantial.
As you can see, “How to Write a Business Plan” that will get you noticed and get you funded is very important if you want to be successful and get the money you need to get started.