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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.