... preparation, one after the other, alternative approaches come to light andare evaluated and pitfalls are identified. With its clear analysis of the situation, the business plan becomes an invaluable ... persuasive assumptions, and facts. HOW TO WRITE A BUSINESS PLAN 20• A far-sighted analysis of the competition. Investors aren't naive—so don't eventry to claim that your product has ... systematically, in a logical order. A detailed outline should be made as soon as the first ideas are laid down. It is smart to do your planning along the lines of a business plan, or according to...