Your business plan is complete and ready to go to the reader. It’s time to write your cover letter.
If you have not already done so, research the organization(s) to whom you will provide your business plan and get the accurate names, titles and addresses of the person(s) to whom you will send copies.
The purpose of your cover letter is simply to provide an introduction for the reader to your business plan and to yourself. A healthy cover letter should be no more than four paragraphs, including an introduction to the business plan, an introduction to you, a brief confidentiality and directive paragraph, and a polite conclusion. It should be less than one page; almost no circumstances call for more than one page. Your goal is to have the reader quickly set the cover letter aside and be mentally ready and eager to read your business plan.
Paragraph One: Introduction to Your Business Plan
- Introduce business plan and name of business.
- Write one or two sentences describing the business.
- Explain why the reader is receiving the plan (i.e., to consider for a loan or grant).
Paragraph Two: Introduction of Yourself
- Introduce yourself.
- Write one or two sentences about yourself.
- Tell how your expertise or background qualifies you to own or operate the business.
Paragraph Three: Confidentiality and Direction
- Explain the purpose of providing the business plan to the reader.
- Ask that the reader respect confidentiality; authorize appropriate sharing of the plan.
- If appropriate, ask that the business plan be returned, using a self-addressed, stamped envelope.
Paragraph Four: Conclusion
- If you have deadlines, time restrictions, or expectations, briefly state what they are.
- Thank your reader and close the letter optimistically.
Cover-Letter Pitfalls
- Too wordy.
- Too sketchy.
- Cold or impersonal tone.
- Too much hype.
- Too many fonts or graphics.
- Typos, misspelled words, poor grammar.
- Cleverness.
Cover-Letter Must-Do’s
- Be professional and business-like; keep it brief.
- Include a self-addressed, stamped envelope if you would like your business plan returned to you.
- Be neat, clean and no-nonsense.
- Proof for typos, spelling, and grammar.
- Sell your strengths.