January 10, 2014 By Contributor
Many human beings ask how many graphs or charts they must have of their business plans. As with most other business making plans questions, the solution is it relies upon . This article discusses the key factors influencing the wide variety of graphs and charts to include to your marketing strategy.
To begin, the key point to consider in growing your business plan is the time restraints of your target market. If your target market is a retired angel investor, he may also have few duties and can spend an hour reviewing your marketing strategy. However, the more likely situation is that a project capitalist, corporate investor or loan officer will assessment your plan even as sitting at a table crowned with fifty other business plans. As such, it is important that your plan conveys its key points quickly and without problems that is wherein graphs or charts are available.
In figuring out whether or not to apply a graph or chart, take into account the vintage adage, a picture is worth 1000 words. The point right here is that the photograph need to keep a thousand phrases. That is, the graph or chart ought to supplement the textual content; it have to now not be explained ad nauseam in the text, or that defeats its reason. Likewise, the graph or chart should be applicable and guide the text, in preference to detract from it.
In addition to respecting the time constraints of the target market, the business plan need to respect the audience s energy degree. That is, after analyzing seven enterprise plans, an investor is likely to bypass a web page with four hundred words of hetero textual content. Even if no charts are relevant to help the web page, Growthink indicates the usage of suitable spacing and/or callout containers (e.g., key text terms highlighted in boxes) to make the page more readable.
>> RELATED: Free Sample Business Plans
Clearly, technical drawings and operational designs need to be visually offered inside the business plan. Without them, large volumes of textual content are often had to explain especially simple tactics. Importantly, while the textual content references these charts, the charts ought to be without difficulty on hand. That is, the chart must be at the same page because the text, as opposed to forcing the audience to constantly flip to an appendix. If the chart is referenced on severa pages, each web page should show the piece of the chart that displays the textual content, with the total chart acting handiest once in the plan.
Finally, if the business plan is being presented to one or few buyers, the quantity of graphs and charts should mirror the desires, needs and class of those few readers. For instance, if the plan is being supplied handiest to strategic buyers who recognize the market, greater graphs can be appropriate to bring records for which these investors have already got background expertise.
Conversely, continually maintain in mind that the plan isn’t always a slide presentation, and too many graphs and charts may additionally function the corporation as one that is too lazy to complete the technique of developing a proper business plan.
To summarize, the amount of charts and graphs used inside the marketing strategy have to replicate the audience for the plan; an audience that is normally time and strength confined. The charts and graphs should complement the textual content, permit the target market to quickly and without problems digest the statistics, and as usually, hobby the target market in taking the subsequent step (e.g., scheduling an in-individual meeting) within the funding procedure.
Original publication date: April 21, 2005
Recommended Books and Products on Business Plans:Similar Posts: