| Business plans are filled with projections of what a | | | | In the management team section, the business plan |
| venture might be able to achieve in the future. They | | | | should include facts about key personnel and what |
| should also be filled with facts about the venture's | | | | their career accomplishments have been so far. It |
| past and about the market in which it operates. It is | | | | should highlight specific positions they held and ideally |
| these facts that often convince an investor that the | | | | show how this makes them to uniquely qualified to |
| opportunity is right for them. | | | | execute on the current opportunity. |
| Key areas in which facts must be presented include | | | | Finally, while the financial section of the business plan |
| the company, customer, market, competition, | | | | focuses on projections, these projections should be |
| management team and financial projections sections | | | | based on facts. Such facts include much of the facts |
| of the plan. In the company analysis, facts must be | | | | that were presented in the body of the plan |
| presented to highlight the venture's accomplishments | | | | regarding market sizes and trends (should influence |
| to date. These facts could include financial results, | | | | projected sales growth), competition (should influence |
| dates on which products were launched, etc. | | | | pricing), customer needs (should influence customer |
| Facts in the customer, market and competition | | | | adoption rates), etc. |
| sections should bolster the opportunity. These should | | | | Investors want to invest in businesses that they are |
| include facts about market sizes, market trends, | | | | confident will succeed. By providing them with factual |
| customer needs, and competitors' products and | | | | evidence, they are more prone to invest than simply |
| services. Whenever possible, site sources for these | | | | offering your beliefs and opinions. Importantly, most |
| facts. For instance, mention which research firm | | | | investors will conduct significant due diligence before |
| stated that the market size last year was in fact $X | | | | making an investment, so make sure your facts are |
| million and is projected to grow to $Y million within | | | | genuine, or you risk failing to receive the investment |
| the next five years. | | | | you need. |