Successful business plans share the following characteristics:
They are the core of the operational plan
They formulate the vision of the company and function as the roadmap to be followed.
Your executive summary is extremely clear
It does not exceed 2 pages in length and helps the reader quickly understand what the business is about. It excites the reader to want to continue reading. Presents a summary chart outlining expected revenue, margins, and profits over a 5-year period. It is developed under the premise of the "elevator pitch", in which there is only 30 seconds of exposure to "hook" the potential investor.
They are realistic in their market perspective
They answer exactly the questions who will buy the product? and why will you buy it? They explain what is the imperative need that the product or service fills.
Integrate Sales and Marketing
Many business plans say, basically, "We are going to sell through all known channels." That is not convincing. Successful business plans demonstrate that they understand why a particular channel strategy makes sense given their market analysis.
They project key financial figures
Although these plans are made on projections that are difficult to meet, their financial figures are tied to the marketing and sales plan and are key measures that allow the reader to understand the financial implications of the strategy.
They present first class equipment
The team is essential and a first class team will give the investor the confidence that they will always find a way to make the business work. If the entrepreneur is new to the game, he should surround himself with experienced and reputable advisers.
They are matched with a curriculum (resume)
The business plan is essential to obtain financing. Like a resume, you don't get the job on your own (the money in the case of plans), but it helps you get an interview.
They are not offers
The plan focuses on the business and the opportunity, it does not offer specific negotiation alternatives. Again making the analogy with the resume, the applicant does not say "I am willing to work for you for $ X and Y weeks of vacation."
They are consistent
They have been reviewed and criticized by different people who have not been involved in their making. They are well thought out and well written documents.
They perfectly blend the background and the form
They do not exceed 30 pages; they have enough tables, figures and other visual aids to quickly inform the reader; they are perfectly worded and have no spelling errors.
José Luis Casero, an expert in entrepreneurship, presents the distinctive elements or characteristics of a successful business plan in the following video-lesson:
Source: Joseph G. Hadzima Jr., The Business Plan. At:
