Five Ways a Business Plan Can Help Sell Your Business

Your business plan serves as a sales tool, not directly to your customers but to your financial

backers and even to yourself. The research and the manner in which your business plan is

organized and written is designed, first, to sell the initial business concept, and then to sell the

success of the business. Below are five ways in which your business plan can serve as a sales

tool:

1. To Investors: A business plan is most often thought of as a means of

generating start-up funding from investors. Each section in the plan is

researched and written in a manner that sells investors on your goals and

specific business strategies.

3. To Outside Talent: A strong, well-written business plan can entice top-

level talent to come aboard. By selling your business ideas and a profitable

long-range plan, you can attract talented people who will be more inclined to

stay for the long haul, rather than join a company not knowing what to expect

and leave at the slightest downturn.

4. To the Bank for Loans: Along with financial documents, you can support

your need for a bank loan by using your updated business plan to sell the

success of the business and need for new equipment or expansion.

5. To Buyers: You can literally sell your business more easily by showing

potential buyers how your business has stuck to the goals and principles set

forth in the original business plan. By updating the business plan periodically,

you can illustrate growth patterns, milestones reached, achievements and

obstacles overcome to support your asking price when you are looking to sell

your business.