People often ask “What makes a good business plan? Or, “How do I make my plan attractive to lenders and investors?”.

The simple answer is that lenders and investors (I’ll call them “readers” from here on out) are looking for “good deals”. A “good deal” is one that offers the reader a reasonable rate of return for the risk assumed. The complete answer is that you should write a plan that a reader will want to read and then get it to reader(s) who are looking for your type of project and levels of risk and return. This article deals with the first part of the equation – how to write a business plan that readers will want to read.

Readers want plans that clearly, accurately and completely allow them to make an initial determination about the project. Here are the steps needed to write that plan:

To paraphrase a real estate expression, the three most important things about a business plan are research, research and research. While other things are important (even critical), ultimately your plan will live or die on the quality and » Read more: How to Write a Business Plan in Five Steps