By the time you have finished compiling your business plan you will have invested a great deal of time and energy. You will have ensured that all the information you have presented is both accurate and of a quality second to none. However, unless you present your business plan effectively all this hard work may be wasted.

Composing Your Introductory Letter

When you attend an interview for a job or meet someone for the first time you want to make a good first impression. It is this first impression that people will always remember. The same can be said for a business plan; how a potential investor first becomes aware of your business idea will be how they will remember it and you.

An introductory letter will be the first point of contact your potential investors will have about you and your business idea. This should be sent at least seven days prior to your meeting and will serve as a brief introduction about you and your business. Time taken now to compile a professional letter of introduction will be time well spent. There are many different ways to write a good business letter and although there is not one specific right way there are many ways which look untidy and unprofessional.

All your business letters must be typed or if you are fortunate enough to have access to one, then use a word processor. Never under any circumstance write a business letter by hand. It gives the impression of an unorganised person with little interest in professional presentation. After all if you are unable to present yourself professionally, then how will you convince anyone to back you?

Where To Start

Invest a little time and money in having your business stationery professionally designed and printed. There are a number of companies who specialise in producing business start-up packs in a wide selection of attractive type styles and layouts. This is an inexpensive way of giving yourself a truly professional image. How much stationery you need will obviously depend on the size of your business but a good start would be to order at least 200 of the following:

• letterheads (A4)
• business cards
• compliment slips
• envelopes (DL).

 

Where your letterhead is positioned will determine where you begin your letter. If you have not already had your business stationery printed then always start at the top right hand side of the page with your address and contact telephone number with dialling code. A contact telephone is very important and should always be included. If you do not have one then include the number of a colleague or relative but remember to tell them you have used their number or you may have some explaining to do. A line should be left before the date is inserted on the left hand side of the page, and two more before including the reader’s name, position and company address. Then leave another two lines before starting with the word ‘Dear......’.If you do not know the reader’s name then find it out. Pay particular attention to the spelling of the name as an incorrectly spelt surname can be infuriating.

A letter addressed to a specific person will look more professional and personal than a letter starting with ‘Dear Sir’. Even less professional is ‘Dear Sir or Madam’; this will resemble a circular sent by a desperate business person to each and every financial institution and potential backer.

What To Write

You may wish to give the letter a title now before beginning your main text. This should start with the word ‘Re:’, which is an abbreviation for ‘Reference’ and then the title, for example, your business name or perhaps the nature of your forthcoming meeting.

The main text of your letter should be clear, concise and to the point. Remember, this is only to introduce yourself and your business idea. Further details and information can be provided when you meet your investor face to face. Always ensure your letter is double spaced between paragraphs with generous margins. This will not only make your letter appealing to the eye but also easy to read.

As you have taken the time to discover the receiver’s name then close your letter with the words ‘Yours sincerely’ followed by a large space, then your name and if appropriate your job title. If you intend to send anything with your letter of introduction the words ‘enc’, or ‘enclosures’ will follow next with a description of what you are enclosing. It may be necessary to enclose your actual business plan either with your letter of introduction or at a later date. The reasons for doing this include:

• to give your potential backer a chance to read through your business plan prior to your meeting
• if your potential backer lives too far way to have the meeting face to face.

If you do enclose your business plan, always ensure you have at least one other copy. Never under any circumstance send your last copy.

After you have finished your letter read back over it, then read it again and again. If possible get a friend or colleague to read over it. This will not only help eliminate any spelling and grammatical errors, it will also give you a second opinion about the content. If the letter does not read or appear perfect then continue re-writing it until it does sound right.

Figure 7 shows a sample letter of introduction sent by Jasmine Jade when she approached the bank for a Calendar Creations business loan.