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Provide information on competitor weaknesses and strengths and show how you intend to improve on what they're doing.
Ask yourself: Who your customer is, what business are you in exactly, what do you sell, and what are your plans for growth?
Address how your goods or services will appeal to customers.
If your business is all in your head, it's hard to convince lenders, investors and shareholders that you have a credible company and that you'll use their funding well.
And that's precisely where a business plan comes in.
Be sure to modify your information depending on your target audience.
For example, your bank will be interested in how you intend to repay the loan or overdraft, what you intend to do with the money and how it will help your business grow.
How will your company or product/service make a difference in the lives of your customers?
Make sure you show your lender that you've done your homework.
You can’t predict the future, but you can plan for and anticipate possible outcomes.
And the best place to do that is in your business plan.