A business plan may seem sharp and impressive with buzzwords and jargon. But it can be quite confusing and off-putting for a layperson. Therefore, simple and clear language is always more effective.
There are many tips and strategies out there for entrepreneurs on how to write a business plan. They are guided on the importance of staying focused, outlining an executive summary, backing up the data with adequate research, providing financials and more.
But how about the words and phrases that you use when framing your business plan? It commonly happens that business plans are peppered with business or industry terminology - especially for engineering and technology startups.
They may sound impressive or even self-explanatory to you. However, the audience may or may not be familiar with the industry-specific jargon. Especially banks and investors have no clue about the specialized or technical terms that you use regularly. Similarly, abbreviations also disrupt the flow of a business plan and make things quite perplexing.
Therefore, it is imperative that a business plan should speak in the language that the readers can relate to – it should stay simple and clear at all times. Avoid industry buzzwords or jargon at all costs. If you have to use acronyms, ensure that they are spelled out at least once, that too early on.
This way people who are unfamiliar with the business will not feel excluded and can actually connect with the potential of your idea or proposal.
It follows that who writes a business plan matters a plot. Professional business plan consultants like Plan Writers (www.planwriters.net) always keep the audience in mind when crafting a business plan. They pay special attention to the vocabulary and terms used for describing the opportunity and its latent potential. This ensures that the plan is simple to read and understand for laypersons who are not involved in the said industry. And the response is always better!