This is an excellent question. And, it is one that many new and potential business entrepreneurs should ask, but often times do not. We have learned from experience that the three most important elements of a business plan are its appearance, the quality of the research, and the Executive Summary. Appearance Most readers of a business plan will be influenced by its appearance.
First impressions count.
It may seem obvious that we should put our best foot forward by assuring that our business plan looks professional, but often the visual aspect is neglected. The look of a business plan must be balanced. Bells and whistles do not usually impress a lender. Often lenders judge such plans as extravagant and may prejudge management as excessive in its spending. The quality of the research is very important, too.