12. Express your opinion on the following

1. Let us follow our destiny, ebb and flow. Whatever may happen, we master

our fortune by accepting it.

Virgil

2. Ambition is the last refuge of the failure.

Oscar Wilde

3. People think that at the top there isn’t much room. They tend to think of it as

an Everest. My message is that there is tons of room at the top.

Margaret Thatcher

______________________________________________________Lesson 13

1. Read the text what language to use for conveying success

1. The language you use in your plan can give the impression you are thoughtful, knowledgeable, and prudent, or, conversely, it can make you seem naïve and inexperienced. *Your fundamental goal is to convey realistic optimism and businesslike enthusiasm about your prospects¹. Use a straightforward, even understated, tone. Let the information you convey, rather than your language, inescapably lead to the conclusion that your business will succeed. Avoid formal, stilted language. Instead be natural, *as if you were speaking to the reader in person²; however, avoid slang and don’t be “chatty”, always be professional. Listed below are some other pointers to keep in mind when writing your business plan.

2. Mind the use of superlatives. Readers are naturally skeptical of overreaching self-promotion. Avoid using words such as “best”, “terrific”, “wonderful”, or even “unmatched.” They reduce credibility. Rather, use factual descriptions and specific information to make positive impressions

3. Instead of saying “Our widget will be the best on the market, really superior to all others”, say “Our widget will not only handle all the functions of existing widgets, but will also add features x, y, and z, and sell for $(or Є)3 less than our closest competitor’s widget. No competitor of ours offers these features at any price.”

4. When trying to get additional financing for your restaurant, don’t tell the reader that the food and atmosphere are “terrific”. Instead provide specific information that proves you are doing something right: “Due to the restaurant’s popularity, there is an average 45-minute wait for a table on Friday and Saturday nights, and a wait of15 to30 minutes on other evenings.”

5. The only exception to this rule is when you use superlatives as part of your goal in *a statement of Mission³. Then it is appropriate to state, “We intend to make a dog food unmatched in quality by any national brand.” Even then, however, it is important to include the specifics of what you mean by such a goal.

6. Avoid purely subjective comments. Everyone expects you to think your product or service is outstanding. Thus, your own comments are meaningless. Instead, use outside sources to give the reader confidence in your competitiveness. Eliminate comments such as “We believe this will be the best dog food on the market,” or “Adeena’s fashions are equal to those made by top designers.” Such statements use upvaluable space in your business plan, and a reader is likely to tune out when encountering such hyperbole.

7. However, the same comment, when made by an authority, becomes quite powerful: “Women’s Wear Daily states that Adeena’s fashions equal those of the top designers,” or “The newspaper’s annual survey rated our restaurant among the top 10 in its price category.”

8. You don’t even have to quote a well-known authority. Anyone with credible related experience will do, as this example shows: “The breeder of the winner of last year’s Tricountry Dog Show tested our dog food and concluded, “This will be the best dog food on the market, superior to any national brand.”

9. Business terms. Although it is certainly not necessary to be a business school graduate to develop a business plan, you should know and use appropriate basic business terms. You don’t want to be discredited or misunderstood by using words improperly. If business is new to you, familiarize yourself with the PR and Business Terms Glossary at the back of this book.

10. Also, become familiar with the basic terms of your industry and use those words when appropriate in your plan. If you don’t know these already, you should be able to pick many of them up while doing background work for the Industry Analysis section of your plan. However, do not fill your plan with a lot of technical jargon in the hope of sounding impressive. There is a good chance that someone totally unfamiliar with your industry will be reading it, especially if you are seeking outside funding.