How To Write A Business Plan That Actually Gets Funding

If you’re thinking of starting a business in Nigeria or anywhere in the world, there’s one thing you must get right from the jump — your business plan. Not just any business plan o. I’m talking about a plan that will make investors sit up, nod their heads, and say, “Yes, we want to fund this!”

Let’s face it, writing a business plan can feel like trying to build a house with no foundation. It’s intimidating, confusing, and full of buzzwords like "projections," "competitive advantage," and "go-to-market strategy." But if your goal is to raise money — whether it’s from banks, investors, or even friends and family — then you can’t afford to write a boring or vague plan.

In this blog post, we’ll break it down step by step. No grammar, no long story — just practical advice that works. By the end, you’ll know how to write a solid business plan that actually gets people excited to fund your business.

First, Why Do You Even Need a Business Plan?

Some people will say, “Ah, business plan is just a formality.” That’s a lie. A good business plan does the following:

Shows investors you’ve thought things through.

Proves your business is worth funding.

Helps you avoid costly mistakes.

Keeps you focused and accountable.

Attracts partners, co-founders, or even employees.

It’s not just a document — it’s a roadmap. Think of it as your business GPS. Without it, you’re just vibing and praying. But investors don’t fund vibes; they fund strategy.

Step 1: Understand Your Audience

Before you write a single word, ask yourself this: Who is reading this plan?

A bank loan officer? They want to see repayment potential.

An angel investor? They want to see growth, scalability, and ROI.

A grant program? They want to see impact and sustainability.

Friends or family? They want to know their money is safe.

Understanding your audience helps you choose the right tone, detail level, and focus. For example, a bank wants numbers; a VC wants vision.

Step 2: The Key Elements of a Business Plan

Now let’s get into the structure. A solid business plan usually contains the following sections:

1. Executive Summary

2. Company Description

3. Market Research and Analysis

4. Organization and Management

5. Product or Service Line

6. Marketing and Sales Strategy

7. Funding Request

8. Financial Projections

9. Appendix (optional)

Let’s break each one down like akara.

1. Executive Summary (Keep it Punchy)

This is the first part of your plan, but it’s often the last thing you write. Why? Because it summarizes everything.

Here’s what to include:

Business name, location, and vision.

What problem you're solving.

Brief on your product/service.

Target market and competition.

How much funding you’re looking for.

Example:

> “FarmLink Agro is a tech-powered agricultural distribution company that connects smallholder farmers in Ogun State to urban markets using a logistics app. We are seeking $50,000 in seed funding to expand our cold-chain logistics and onboard 500 new farmers in 2025.”

Be brief. Be bold. Be clear.

2. Company Description

This is where you answer the question: “Who are you and why should we care?”

Talk about:

What your business does.

Your mission and vision.

Legal structure (sole proprietorship, limited liability company, etc.)

What makes you unique (your “unfair advantage”).

Tip: Don’t just say “we are passionate” — show proof. If you’re solving the problem of food waste, show how you’ve already reduced it by 10% in your pilot.

3. Market Research and Analysis

Ah, this is where many Nigerians fall short. Investors want data, not vibes.

You need to:

Show the size of the market.

Identify your ideal customer (age, location, income, behavior).

Analyze your competition (who they are, what they offer, how you’re different).

Highlight market trends (e.g. rise of e-commerce, mobile payments, Gen Z buying habits).

Example:

> “Nigeria’s agricultural market is valued at over ₦30 trillion. However, over 40% of harvested produce goes to waste due to poor logistics. Our solution taps into a $5B logistics segment within this market.”

Use graphs if you can. And please, no guesswork — back it with real sources (NBS, PwC reports, World Bank data, etc.).

4. Organization and Management

Here, investors want to see your dream team.

Include:

Your leadership structure (Founder, COO, CFO, etc.)

Brief bios of key team members (what makes them qualified).

Any advisors, mentors, or strategic partners.

Your hiring plan if applicable.

Tip: If you’re a solo founder, don’t panic. Just show that you understand your strengths and where you’ll need help. Maybe you’ll outsource tech or accounting — say it clearly.

5. Product or Service Line

Now we’re talking product.

What exactly are you selling?

How does it work?

What stage is it in (idea, prototype, live)?

What makes it different?

Any IP, copyright, trademark?

If it’s tech, include a product roadmap. If it’s a service, show testimonials or pilot feedback. Even screenshots help.

Don’t just say:

> “We sell skincare products.”

Say:

> “We sell organic, Nigerian-made skincare products for melanin-rich skin, using ingredients like shea butter, turmeric, and baobab oil. We’ve sold 5,000 units on Instagram with a 30% repeat order rate.”

Boom.

6. Marketing and Sales Strategy

It’s not enough to build a great product. You need to sell it.

Investors want to know:

How will you reach customers?

What platforms will you use (TikTok? WhatsApp? Influencers?)

Pricing strategy (premium, affordable, freemium?)

Customer retention strategy

Sales targets and channels

Example:

> “We will acquire users through targeted Instagram ads, work with micro-influencers, and launch a referral program with ₦500 credit per sign-up.”

Numbers matter here. Show you’ve done the maths.

7. Funding Request (Be Specific)

Now we enter the money zone.

Clearly state:

How much you’re requesting.

What you’ll use it for (break it down).

What type of funding (equity, loan, convertible note?)

What investors get in return.

Example:

> “We’re seeking $50,000 in exchange for 10% equity. Funds will go to product development ($15k), marketing ($10k), logistics setup ($20k), and legal/admin ($5k).”

This section is not the time to be vague. If you don’t know what you need, why should anyone give you money?

8. Financial Projections

Now it’s time to put your accountant hat on (even if it’s a cap).

Include:

Income statement (revenue, expenses, net profit)

Cash flow statement (inflows and outflows)

Balance sheet (assets and liabilities)

Break-even analysis

3–5 year projections

If you're pre-revenue, use industry benchmarks to estimate. Be realistic. Nobody will believe you’ll make $1 million in 3 months with no team or structure.

Pro tip: Use Excel or Google Sheets. Tools like LivePlan can also help.

9. Appendix (Optional but Useful)

You can include:

Charts and graphs

Product screenshots

Legal documents

Team CVs

Letters of intent

Testimonials or reviews

Don’t bloat your plan, but if you have supporting evidence — add it here.

Final Tips for Writing a Business Plan That Attracts Funding

Now that you know what to include, here are some tips that make the difference between a dusty document and a plan that brings in real cash.

Be Honest

If you don’t have all the answers, say so. Investors prefer honesty over hype. Highlight your risks and how you plan to manage them.

Keep It Simple

Avoid big grammar. Write like a smart human being. Investors read dozens of plans daily — don’t make them work extra hard to understand yours.

Use Visuals

Charts, bullet points, images — use them to break up text and keep the reader engaged.

Tailor It

Don’t use the same plan for everyone. Adjust it based on who you’re sending it to — banks, angel investors, grant programs, etc.

Show Traction

If you’ve done anything already (pre-orders, waiting list, app downloads), include it! It shows proof of concept and reduces perceived risk.

Get Feedback

Before sending out your plan, ask mentors or business-savvy friends to review it. Sometimes small errors or unclear sections can cost you big opportunities.

Conclusion: Write the Plan, Secure the Bag

Writing a business plan that actually gets funding is not about being fancy. It’s about clarity, structure, and strategy. Investors don’t expect perfection — they expect preparation.

So whether you're launching a tech startup in Lagos, a fashion brand in Abuja, or a food delivery business in Port Harcourt, take the time to craft a plan that speaks loud and clear: “This business is worth the investment.”

Remember, no one funds dreams. They fund well-executed plans.

Now go write that plan, secure that bag, and build the business of your dreams.