If you have an idea and you think you can turn it into a profitable one, you are probably going into business. However, business survival requires having a product or service that stands a good chance of making money in the market. Going into business also requires investors who are confident in your idea as well. Just how does a person with a great idea go about turning it into a steady stream of revenue? And how does this same person secure the investment needed to start?

The first step is making a business plan because it is here where an entrepreneur can determine if the idea will be able to compete in the market. And, your business plan will be what potential investors will want to look at before they decide to financially back you. Just as a resume should stand out when trying to get a job, your business plan should be such that it is a cut above the others so it will grab an investor’s attention.

Organization of your plan is important so that information needed by an investor can be easily found. Although exact plan formats will vary among those proposing them, there are certain key sections that you must not avoid. Your business plan should have an executive summary, description of your product, market analysis, competition analysis, your marketing plan, and a section about your staff and management. These are the common sections in most business plans and potential investors will be looking for them. Without any one of them, your business plan can get thrown in the stack with the others.

A well-written executive summary will stir a reader’s interest to find out more. The executive summary gives a reader an overview of what is in the detailed portion of the business plan. It should always be the first section of a business plan. This summary should be no more than two pages and the words in should have an impact.

There is no reason why you cannot be creative with your business plan. For example, some have put their plans in an electronic presentation format such as Powerpoint. This can be a plus or this can be a minus. Some investors trust traditional presentation formats while others might enjoy the break from the ordinary. Possibly you could have the traditional format as well as a Powerpoint presentation thus giving the investors a choice.

You should always have a quick business plan ready. What is meant by a quick business plan is one that you can deliver to someone else at a moment’s notice. This is not a written one. It is a verbal business plan commonly known as the elevator pitch. It is where you can deliver a plan to someone in the time it takes to ride up an elevator. Others recommend a 60-second presentation. In order to do this, you should learn how to present yourself, your product/service, the market you will target, how you plan to earn money, the people behind the business, your competition, and the reason to choose your business. That’s a lot of information in a short time but, if done correctly, it is another form of a business plan that stands out from the others.

So what we have here is not just a business plan but one in three different forms: traditional (on paper), electronic (Powerpoint), and verbal (elevator pitch). Instead of relying only on the traditional, you should use the advantages of each form to make your business plan stand out in any venue.