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Myths of Funding – Best Business plan format
Having a business plan is pre requisite for a startup company but trying to find out which is the best business plan format is something which lot of startups try to do.
Any format, which gives clarity of way forward not just theoretically but also in financial clarity, is good enough, there isn’t anything call best business plan format.
Many prefer to call project report, some call it business plan some call it financial plan. Which is written in majorly in excel as its bit easier to make changes than comparing other formats in word or presentation.
Every business has to generate revenue and should prove that it is sustainable, yes but in initial stage till it reaches sustainability yes it needs funding, the basic component here is to know is this business worth investing is the question.
Also the major aspect is all business plans look good on presentation and paper the founders should walk a mile before asking for funding, rather than finding out which is best business plan format which will get funds for them immediately.
Every investor earns money hard earned way so showing him business plan in best format will not get funds.
So there isn’t any best business plan format, its just putting in together all the essential ingredients, which are required to validate the business on financial parameters