Your business plan should be written in third person
This simple change in style will persuade your investors.
Picture by Thought Catalog
Traditionally any formal document, including a business plan is written in third person.
Reasons for third person
- Third person appears to distance the author from the context. This gives the impression of objectivity, which can be more convincing to the audience.
- Third person may actually increase objectivity. The author is reminded to be objective by the style and this may actually create a more dispassionate view of the data.
- Third person is often more accepted by formal audiences like investors and banks. it is seen as being more corporate and serious.
- Third person gives the impression that there is more than a single author and agent behind the plan.
Reasons against third person
There is perhaps an argument for first or second person as business settings have become less formal in dress, protocol and communication style. Business people tend to communicate more informally using first names etc than was the case twenty years ago. Against this backdrop a formal third person style may seem incongruous. A less formal style may also give more opportunity for the passion behind the plan to be conveyed.
Conclusion
Even now with the informality in business, the formal third person style and impression of objectivity it provides is probably still preferred for a successful communication. Banks and venture capitalists are formal institutions and still expect formal styles of communication. Third person conveys the right style that matches their expectations and helps your message persuade these key stakeholders.
Lew Perren, Developer of Business Plan Quick Builder and BizzLink
Notes
- This blog was inspired by our response to a Quota question.
- Explanation of third person style: https://www.grammarly.com/blog/first-second-and-third-person/
