Tim berry is the founder/president of Palo Alto Software and a renowned planning expert who has authored books and software on business planning (2009).
Berry feels a key component investors are looking for is, is it realistic and can the plan be implemented? Berry states that you do not get points for brilliant ideas that can not be implemented. Investors want to know, before going into a business deal, that the deal is feasible and able to become a reality. Berry also states that the business plan should be specific where you can track results and clearly identify assumptions. Again, investors want specifics on where their money is going and how it will be spent. This is where assumptions come in because they tell us projections at different points of the business plan.
Susan Ward runs Cypress Technologies which is an IT Consulting business providing services such as software and database development. Susan has been writing about business since the late 1990's (2011). One key to writing a business plan Ward gives is to really use your resources such as accountants, banks, IT consultants and business coaches. Berry states that these professionals provide invaluable advice in putting together a business plan. Investors want to have confidence that the people spending their money are utilizing their resources to make the best decisions possible
Berry, T. (2009). 8 Factors that make a good business plan. Retrieved on 8/7/2011 from timberry.bplans.com
Ward, S. (2011). Writing the business plan: section 6. Retrieved on 8/7/2011 from sbinocanada.about.com
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