FAQs for Step 11: Set Up Your List of Appendices
Q: What’s the point of the appendices? Why not just put the info right into the body of the business plan?
Q: How do I decide which ones I need? Do different audiences require different appendices?
If you take a high level view of your business plan, it is made up of three main parts: narrative, financials and supporting information. The Appendices, or supporting documents, are attachments to your business plan. This is where you will place any detailed or complex information that supports claims made in the narrative part of your plan. The narrative or body of your business plan should tell your story and it must be easy to read. It not helpful to have your “story” broken up by unwieldy components, more practical to attach them as Appendices and refer the reader to each Appendix from the body. Any back-up documents or items that would disrupt the body of your plan should be tucked instead into the Appendices.
Q: How do I decide which ones I need? Do different audiences require different appendices?
For the newbie, this can be a bit daunting. You don’t want to do unnecessary work, and yet you don’t want to miss anything important.
The first thing to consider when starting out is whether you are doing the business plan for yourself or to communicate with someone else. As Appendices are to provide “proof” for claims made in your business plan (see answer to “point of Appendices” question above ) If the plan is purely for yourself, you may not need much in the way of proof or supporting information. If the plan is to communicate with a third party (lender, partner, investor), then the third party will know what they want or need to see and you are best to seek guidance from them as to which Appendices should be included.
Here are a few suggestions. The easiest way we’ve found to deal with this is to open your business plan document (If you haven’t yet started your business plan, see http://www.riskbuster.com/tools/start-a-new-business-plan/ ) go to the Appendices Section in your plan.
- Go through and select and delete the Appendices you are certain you don’t need.
- For the remaining Appendices, go through the Appendices Section at http://www.riskbuster.com/roadmap/business-plan-assemble-your-appendices/ to determine which Appendices you need and delete the rest.
For how to’s and tips on updating your Table of Contents see http://www.riskbuster.com/tools/updating-the-table-of-contents/
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