Page 87 - Business Plans that Work A Guide for Small Business

78 • Business Plans that Work

tone. You need to present quantitative data (footnoting its source) to de-
scribe the industry, customer, and competitors. The more rigorously you
describe and validate the context within which your venture will compete,
the better you will understand how to compete. In other words, this por-
tion of the business planning process is where you often gain your deepest
learning. This deep learning will help you make better decisions. Fur-
thermore, presenting this information well will strengthen your story and
impress investors. Remember, when you build a house, everything rests
upon the foundation. If that foundation is weak, the house will slowly
crumble. This section of the plan is the foundation upon which the other
sections build. Build it thoughtfully and completely.