Stating the Objective of Submitting Your Business Plan

Tell Them Why! 

Stating your objective for sending a business plan helps to establish clear expectations and context for the recipient. It informs them of why you are sending the business plan and what you hope to achieve from the communication. This can help to focus their attention and ensure that they read the plan with a clear understanding of its purpose and significance.

Additionally, stating your objective can also help to frame the conversation or meeting that you will have with the recipient after they have reviewed the plan. For example, if your objective is to secure funding for your business, this can help to guide the discussion towards that goal and ensure that you are both on the same page.

Stating your objective for sending a business plan is an important component of effective communication and can help to ensure that your message is received and understood in the way that you intend.

What’s in This Article?

The business plan objectives section is included in your executive summary or introduction.  If you’re starting a business or writing a business plan, this information will help you get started in a productive manner.  The following information will help you create the business plan objectives section of your plan.

  • An explanation of how to create a business plan objective statement
  • A business plan objectives outline
  • A business plan objectives template
  • Business plan objectives sample statements you can use

Start by telling the reader why you asked them to review your business plan.

You’ve just presented an excellent elevator pitch and the essential facts about your business idea. Now that you have their attention tell the reader why you have asked them to review your business plan.

A solid close for your introduction should answer the question, “Why should I continue reading your business plan?” The general guidelines and overview on this page will serve as a template for this section of your business plan.

Business plans are submitted to different organizations and people for a variety of reasons. The first thing the recipient must determine is whether your business is a match for what they do. If it is not a good fit, they will stop reading right away. Make it easy for them to determine that it is a match. Identify why there is a strong fit.

Start with a concise statement of why you are submitting this business plan. Then hint at why they should fund your business. This requires modification if you are sending your plan to both a lender and a potential equity investor.

The content outline below provides several possible scenarios. Keep this section brief, establish your credibility, and show you’ve done your homework. Note that this subsection of your plan will likely be shorter than the instructions.

Include a sentence or two that addresses each of the bold headings below. Use the examples to start writing an objective statement for your business plan.

Business Plan Objectives Outline

  • State Your Objective
  • Why You Are Sending Your Plan to Their Organization
  • Affirm the Match
  • Provide Credibility Statements about You and Your Team
  • Ask for the Next Steps

State Your Objective.

Having a well-written objective will help you focus on who you should receive your business plan. “Why am I submitting my business plan to these particular people?” is a question you should always be able to answer. After all, you want to submit your plan only if it has the potential to help you achieve your objective. Being focused and purposeful will help you to get your business funded faster and with less effort.

What are you aiming to achieve by submitting your plan? Some examples could include:

  • “This business plan is being submitted to be considered by your organization for an equity investment.”
  • “This business plan is being submitted as part of an application for a business line of credit.”
  • “This business plan is being submitted as part of a loan application for startup costs and working capital.”
  • “This business plan is being submitted as part of an application for a loan to acquire inventory.”
  • “This business plan is being submitted as part of an application for a loan to acquire equipment.”

If you’re seeking a loan or investment, most lenders or investors will expect your business plan to clearly indicate how much you are seeking. For equity investments, they will also expect to know what percent of your company you are prepared to give up in exchange for the investment.

Market share percentage of industry sale, business competitor fight or battle to gain more sale concept, businessman fighting for more market share pie chart.

If it’s an investor you’re pitching, you’ll be setting the high mark of what you can expect, because the negotiating starts with your number. Carefully consider whether and how to include this information in the plan, versus discussing it in person in advance or after the fact. There are no ‘right and wrong’ rules about this.

It’s most important to know the expectations of your audience and provide what they need and expect. If you don’t provide the information in the business plan, be ready to answer that question when asked.

Communicate why you are sending your business plan to their organization specifically.

“This plan is submitted to you specifically because XYZ Ventures is a lead investor in startup companies, particularly in the (type of business presented in this plan).”

“We specifically selected ABC Bank to receive our business plan because you are a leading SBA lender with a history of working with local companies.”

“PDQ Funding has an excellent track record for providing new businesses with equipment and startup funding, which is why we are sending this business plan to your organization.”

Affirm the match and mutual benefit with short, positive statements.

About Your Ability to Payback the Loan or Increase Shareholder Value:

  • “The business plan shows that the company will be profitable after 12 months and can repay the loan on a timely basis. Our company is aligned with the types of customers your financial institution values.
  • “The business plan shows how the company will grow and profit, creating substantial shareholder value. As a company that fits with your investment objectives, we could be an excellent addition to your investment portfolio.”
  • “As the business plan reflects, the company meets all of the qualifications for an SBA micro-loan. Our business plan should pave the way for a quality application addressing all the key considerations for a compliant SBA loan and starting a long-term relationship with your organization.”

About the Quality of Your Business and Business Plan

  • “Our business plan demonstrates a clear understanding of our industry and target market and outlines a solid strategy for achieving our goals.”
  • “We have carefully analyzed our financial projections and included realistic and achievable revenue and expense projections in our business plan.”
  • “We believe that securing funding from your institution will enable us to bring our innovative product/service to market and significantly grow our business.”
  • “We have conducted thorough market research and have identified a gap in the market that our business can fill, and our business plan outlines how we plan to capitalize on this opportunity.”
  • “We have a highly experienced and motivated team in place, and our business plan demonstrates that we have the knowledge, skills, and expertise to execute our strategy and deliver results.”

 About you and your team

People invest in people. Bankers, investors, venture capitalists are all people. Your business is run by people—people like you.

Photo of many different people

You want quality investors, and they want experienced, hard-working people running the business. Remind the reader that you and your people are a good safe place for their money.

  • “As the founder, I bring 10 years of industry experience. Additionally, our experienced leadership team has more than 20 years of collective industry experience and has been instrumental in successfully launching or operating 3 related businesses.”
  • “I have built a solid record of strong leadership and proven results in the (type of) industry after having progressed over the past 10 years from manager to senior manager, to regional manager.”
  • “I have worked in managerial roles for two successful startups and have filled virtually every role in this type of business, including responsibility for day-to-day operations.”
  • “I have a solid credit history based on credibility, integrity and driving business performance. Additionally, this loan will be used to purchase for hard assets, which can be used for collateral.”
  • Ask for the Next Steps.

The ABC rule is “always be closing.” That applies to your business plan as well. So one of the best ways to end the introductory section of your business plan is by saying politely, “you’ll be hearing from me.”

The example paragraph below will fit well for this purpose. Feel free to use the same approach to ending a cover letter or email you send with your business plan.

“Thank you for taking the time to review my business plan. After reading it, you will see the potential for a strong partnership between our organizations. Our shared goals and values make us a great fit, and I look forward to discussing this opportunity further with you. I will follow up with you in a few days to schedule a time to talk and explore the next steps. Thank you again for considering my proposal.”

Be sure to mark your calendar and reconnect as you’ve stated.

Ready to complete your business plan in just 1 day?

Click GET STARTED to learn more about our fill-in-the-blank business plan template.  We’ll step you through all the details you need to develop a professional business plan in just one day! 

Successfully used by thousands of people starting a business and writing a business plan.  It will work for you too!