What is the Purpose of a Business Plan Introduction?
When writing a business plan introduction, you want to make sure your business idea is not only unique and will attract lenders or private investors, but you want your ideas to be concise and well-researched. When lenders read your business plan, they should be able to see your idea from the first two pages of the plan.
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Present Key Concepts
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When you write your business plan introduction, start with a concise and well-researched concept of the idea. When discussing your business concept, you should mention why this concept is unique and why it's needed. For example, if you want to start a specialty gourmet business, be specific and state how your business stands out from the others.
Business Outlook
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Another purpose of the business plan introduction is to mention how you plan to increase profits and grow your business in the future. Describe how you plan to market the business and mention other strategies you will use to attract new customers.
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Financial Needs
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When writing a business plan introduction, you should discuss how much financing you will need for the new business. Prior to writing this section, you should research the average startup costs for your particular industry and allow room for extra equipment or emergencies that may affect your business.
Information on Others Involved
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Also in the introduction, you should include the names and duties of those who will be involved with your company. For example, if you and a few friends will start a magazine, you would name the editor-in-chief, assistant editor, advertising manager and department editors.
Considerations
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Business plans shouldn't be written casually. Your goal is to attract lenders and private investors to your new business and to secure as much outside funding as possible so you will have less to take out of your pocket.
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