How to Write Business Plan Cover Letter with Right Etiquette

The success or failure of a business depends on how strong and full proof the core business plan is. Such plans form the foundation to any start up. It is by and large created before the launch of the new business venture. Such plans are then sent to banks or other financial institutions to seek for loans to implement the plan. Market experts urge the inclusion of a professional cover letter along with the business plan for better positive response.

Hence we have come up with a list of the right etiquettes to help you come up with the most effective business plan cover letter. 

Basic Business Plan Cover Letter Writing Etiquette

Here is the basic writing etiquette to keep in mind while proceeding with plan cover letters:

  • Take special care of the recipient’s needs, questions or interests. Get your background research right. If you feel that the targeted investor has concerns about your marketing plan, do include information like how you plan to market the offering to your target market in your cover letter.
  • If you are not quite familiar with the person you intend to send out your business plan, do write a follow-up cover letter mentioning that it is a continuation to your previous conversation on the matter mentioned in the letter. Give a short description about what was discussed in the meeting and then lay out your proposal. 
  • Also many entrepreneurs include a rough idea about the features and benefits of the product or service will entertain in their cover letter. This marketing strategy comes handy as the preview may grab attention of the recipient and persuade the investor to take interest in your plan.
  • Cover letters are normally written in a personal tone. Use a few lines from the past correspondence for that matter. Thank your recipient for the time and attention in the beginning of the letter and carry on with the same tone of conduct.

Read also: How to Write Business Letters with Right Etiquette

Introductory format of Business Plan Cover Letter

Here are the 8 major steps to help you with Business Plan Cover Letter writing:

  1. Your name, the name of your business and your contact information should go on the top of the cover letter. You may include your business address, contact number and email address as well.
  2. Mention recipient’s name, title, bank name, location and address thereafter. Be specific about whom to send the cover letter and business plan. Least it will end up in garbage.
  3. Mention the date under the recipient’s information.
  4. Use introductory professional greeting salutations like “Dear Mr. Bell”.
  5. In the first paragraph, mention that you are sending the banker your business plan and wish for a positive response. 
  6. In a paragraph or two mention your objective behind your planned business setup. Include details about your financial planning and how will it prove to be a worthwhile investment.
  7. In the last paragraph, thank the recipient for the time and consideration and show your appreciation for the same. Ask for a face-to-face interview to discuss about your business plan in detail.
  8. Use professional closings like ‘Sincerely’ followed by your name. Sign your name in the space between the closing and your typed name after you print out the cover letter.

To sum up, the right etiquette is to keep the letter professional with a slight hint of personal appeal. Make it persuasive and let the letter compliment your business plan.

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