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The Secrets to Writing a Successful Business Plan

The Secrets to Writing a Successful Business Plan

By Hal Shelton

A Pro Shares a Step-by-Step Guide to Creating a Plan That Gets Results. Summit Valley Press, 2014.

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15 mins read

13 Key insights

A brief summary of The Secrets to Writing a Successful Business Plan

A practical, detailed guide for new or growing businesses, describing how to create an effective business plan that draws in potential investors and provides you with the perspective and information you need to successfully move forward.

Key insights in The Secrets to Writing a Successful Business Plan

1
What do you get from this book? A guide to creating an outstanding business plan and avoiding common startup problems
2
A business plan is both a document and a discovery process—it should demonstrate how achievable your idea is
3
Your business plan will look different depending on the specifics of your idea and who’s reading it
4
Make sure to focus on the customer need you’ll be solving and avoid other common business plan mistakes
5
The executive summary is the most meaningful part of your business plan—make sure it grabs the reader’s attention
6
Include a marketing section based on in-depth research and sales goals, and sections on operations and your management team
7
Realistic financial statements provide the numbers to support the rest of your business plan
8
There are many ways to acquire funding for your business; having a solid business plan on hand is essential
9
Don’t be afraid to ask for advice and turn to others for help—a business plan is never finished
10
Stay focused by concentrating on your Critical Success Factors and creating SMART goals and actionable strategies
11
Summary of the key insights
12
Selected critiques in brief
13
Final word

Who should read The Secrets to Writing a Successful Business Plan

Entrepreneurs • aspiring small business owners • people considering starting a non-profit • anyone curious why business plans are so important

About the author of The Secrets to Writing a Successful Business Plan

Following a long career as CFO of an NYSE-listed company, Hal Shelton became an angel investor in early-stage technology companies. This experience, combined with his work as a mentor with the SCORE association, gives him a unique and wide-ranging perspective on all aspects of creating a useful business plan and avoiding the problems that cause many startups to fail.

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Hal Shelton

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