Whether you’re a startup looking for funding or an established business seeking to grow crafting a successful business plan will maximize your chances of success in any new venture.

However, not all business plans are created equal. An exceptional business plan stands out from the rest in several ways, and our goal is to provide you with some key elements and insights to help you create a final product that sets you apart from the competition. If you want to take your business plan from good to great, consider incorporating these key elements.


Clear and Concise Writing: An exceptional business plan is written in clear and concise language, avoiding jargon and technical terms that may be confusing to the reader. It uses a writing style that is easy to understand, engaging, and compelling. This key element helps to present a professional image of the business. It shows that the author has taken the time to carefully consider the information presented in the plan and has distilled it down to the most important points. Additionally, a clear and concise business plan is a surefire way to build credibility and trust with potential investors and other stakeholders.

 

Unique Value Proposition: An exceptional business plan has a clear and unique value proposition that differentiates it from its competitors. It identifies the specific benefits the business offers to its customers and how it solves their problems or meets their needs. By clearly articulating the unique benefit that the business offers, the UVP can help to build customer loyalty and increase customer retention, leading to long-term success for the business. Want to learn how to craft your own UVP? Click here to learn more!

 

Market Analysis: An exceptional business plan conducts a thorough market analysis, including research on the target market, competition, industry trends, and customer behavior. It uses this information to develop a clear and realistic understanding of the business’s potential market and how to effectively compete in it.  

 

Realistic Financial Projections: An exceptional business plan includes realistic and accurate financial projections that are based on sound assumptions and a deep understanding of the business’s revenue streams, costs, and cash flow. It also includes contingency plans for potential risks and challenges. Don’t know where to start? Consider this video from Quickbooks!

 

Strong Management Team: An exceptional business plan demonstrates that the business has a strong and experienced management team with the necessary skills and expertise to successfully execute the plan. It includes detailed bios of key team members and explains how their skills and experience will contribute to the success of the business.

 

Feasible Operations Plan: An exceptional business plan includes a feasible and well thought-out operations plan that explains how the business will execute its day-to-day operations, including production, staffing, and facilities. It identifies potential challenges and risks and includes contingency plans to address them.

 

Attention to Detail: Last but certainly not least, an exceptional business plan pays attention to the details, including formatting, graphics, and visual aids. It is well-organized and easy to navigate, with clear headings, subheadings, and tables of contents. It also includes references and citations to sources of information used in the plan.


Overall, a business plan is not just a document you create and file away. It is a living, breathing tool that will guide you and  your business through your entrepreneurial journey. It is a roadmap that will help you make more informed decisions and stay on course, even when things get tough.

What is more, a great business plan will successfully communicate your vision outside of your personal sphere, and spread your idea to investors, partners, and employees. It can inspire and motivate others to join you on your journey. Remember, creating an exceptional business plan takes time, effort, and dedication. But with the right approach and mindset, you can create a plan that sets your business up for success and helps you achieve your goals.