Include Letters of Reference
The challenge with letters of reference is that they quickly become outdated. Nonetheless, a glowing letter of reference is a strong marketing tool to help support your business plan.
Unfortunately you will not have a lot of control over the quality of reference letters, which will be mostly determined by the skill level of the writer. It is inappropriate to provide a sample or to suggest what should go into a reference letter, unless specifically requested by the person you approach. In most cases, a savvy ex-boss will ask what the reference letter will be used for. This creates an opening for you to explain the purpose of the letter and mention the important attributes the recipient might be looking for in your application. Here are some things to keep in mind about letters of reference:
- The appearance of the letter is important. The letter will be more credible if it is typewritten and on the writer’s letterhead.
- The letter should include a date and be current.
- The letter should include reference to your relationship with the writer. For example, was he or she your supervisor, accountant, or contract manager? If this information is not included in the reference, ensure that you provide it some other way.
- Your reference letters will be stronger if they come from an individual or organization the reader can relate to. If you are submitting your business plan for the purpose of obtaining a loan, your strongest reference letters might be from current customers and trade accounts where you have a track record for paying your bills on time.
View the business plan example: Letter of Reference
