Your introduction letter is the piece of
paper that sits on top of your business plan when it is delivered.
The very best advice I can give is: Keep the focus on the business
plan.
You've got 10 seconds to give it your
best shot, or the investor is lost forever.
You have spent a lot of time, effort and
money to make the business plan say what you want it to say, so don't try
to condense the business plan into a paragraph or two in a letter.
Rather, use the letter to invite the reader to open the business plan.
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A strong business introduction letter
follows a simple, powerful format:
Sentence
#1 - Why are you sending the business plan to him?
Establish a commonality between you and the
lender/investor. Why have you chosen this particular person or
company to write to? Is he a referral from a colleague? Did
you hear him speak? did you have a few second of pleasantries at a
conference? "Per your request" is a great way to start
out, if indeed that is so.
For example:
When John Howardson, President of QRP,
suggested that I contact you, I knew our business was on the right track.
or
We spoke briefly at the Community
Development Expo yesterday, and you requested that I forward my business
plan to your attention.
Sentence
#2 -- What's the payoff?
What's in it for him? Why should this
lender/investor care diddly about your business? Does your business
fit comfortably into his existing portfolio? Is there a strong
return on investment? Does your company benefit a company that is
already in his portfolio? Make your business introduction letter
demonstrate clearly just what is in it for him.
For example,
When your firm backed QRP, you knew
that John would locate the enhanced energy co-generation system that QRP
needs to succeed. We have that product now.
or
Galloping Galoshes is looking for an
international banking presence that will work hand-in-hand with us to open
new doors throughout Europe.
Sentence
#3 -- So what makes yours a credible company?
A simple statement in the business
introduction letter to establish your credibility is essential. What has your company accomplished? Are sales
strong? Is the client list impressive? Is the Board of
Directors outstanding?
For example,
This company has already exceeded
first year projections by more than 30%, due in part to the invaluable
connections on our Advisory Board.
or
Our ten year track record speaks
volumes.
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| Your
7-Step Business Plan provides the punch your business needs to get
the funding that it deserves.
Click on book covers for more
information. |
Sentence
#4 -- What action will you take?
What happens next? "I will be in
town in two weeks." "I will call you." Don't
leave it hanging, or there won't be any further action. And,
whatever you say you will do, do.
For example,
I know that you will feel the same
sense of connection that our team does, and I will call you next week so
that we can discuss it further.
or
Our key people will be at the
Southeast Conference in two weeks, and I would like to plan to meet you
then. I will call you next week to set the time for that meeting.
That's it. One paragraph.
Maybe two. Don't try to sell your concept with the business
introduction letter -- that isn't its purpose. The whole purpose of
the business introduction letter is
just to get the lender/investor to pick up the business plan and start to
read. Then let the business plan do its job.
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Business Introduction Letter
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