How to Write a Formal Business Report
Your manager has asked you to write a business report to evidence proof-of-concept for a new business idea.
You are eager to demonstrate that your concept is strong. There is a need and market for it, and the financials stack up.
So, how do you write an effective business report?
Before you start putting pen to paper, consider the basics.
Are you clear on what a business report is?
Do you know the differences between an informal and formal style and where to pitch yours?
Fundamentally, a business report communicates information that can be acted upon, knowing how to write one is a fantastic skill to have.
Its purpose is to help leaders within an organization make informed decisions.
As an informative document, it can have a variety of objectives.
For example, if you want to present a new product to investors or the Board, your business report template will likely include:
– Executive summary of the new product and business benefits
– Market analysis (competitor research)
– Known opportunities and risks (including risk of inaction)
– In depth overview of the product and how it solves specific customer problems
– Marketing strategy (including break-down of costs)
– Financial plan (including profit and loss projections)
– Conclusion
