Here’s what we will cover today:

• Prove your case like a lawyer to win over investors

• Test your knowledge on a game-changing business strategy

• The 30 business truths you need to know before it’s too late

Quote of the Day

"Work like hell. I mean, you just have to put in 80- to 100-hour weeks every week. [This] improves the odds of success."
~Elon Musk

Today’s Tip

A common business plan mistake is to not adequately prove your case.

Just like a lawyer has to prove his or her case, your business plan should prove the case as to why an investor or lender should fund you. There are two key ways to do this.

First, show why you are uniquely qualified to succeed in your business. For example, maybe you and/or your management team have unique expertise and experience. Or you have a unique and patented product. Or maybe you are the first to market. Or maybe you have already secured critical strategic partnerships. Identify these key reasons and include them in your plan.

Second, include market research that proves your ability to succeed. For example, show how big your market is. Show how market trends support (or at least don’t hurt) your business’ success prospects. Detail who your customers are and their needs. And show that you understand who your competitors are and what their strengths and weaknesses are.

Do this, and you can develop a successful business plan and a thriving business.

Today’s Resource

Get the Business Plan Investors Love

Most business plans fail to impress. Why? They miss the key elements that investors and lenders need.

With PlanPros.ai, you’ll create a business plan that turns heads. 

Just answer some simple questions, and our AI-powered tool crafts customized financial projections, writes your entire plan in the format investors crave, and includes the best business-building strategies.

And here’s the kicker: You’ll also get access to our database of 80,000 equity and debt investors.

Your plan will get the attention it deserves. Let’s make it happen.

Trivia

Today’s Question: This common manufacturing philosophy is the combination of a number and a Greek letter. Together, they refer to a set of techniques and tools for process improvement. Jack Welch made it central to his business strategy at General Electric in 1995. What is the two-word name of this technique?

Previous Question: What numerical chapter of bankruptcy under the U.S. bankruptcy code allows a company to reorganize?

Previous Answer: Chapter 11

This chapter of the Bankruptcy Code generally provides for reorganization, usually involving a corporation or partnership. A Chapter 11 debtor usually proposes a plan of reorganization to keep its business alive and pay creditors over time.

News

30 Brutal Business Truths I Wish I Knew in My 20s [Video]

What Makes a Great Sales Person in 2025?

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