There’s nothing quite like a plan, and every business has one. Whether it’s in the mind of the entrepreneur, a hastily, handwritten ‘to do’ list or a more traditional document, it’s the plan that dictates what happens in a business on a day-to-day basis.

Businesses don’t go bust because of a lack of profitability. They go bust because they run out of cash.

A well-drafted business plan is crucial when raising finance or trying to attract investment, but it is also, of course, an essential tool for the successful management of a business. A carefully researched ‘roadmap’ which includes the right information provides focus, prevents business drift and reduces risk. It will help you and your team to prioritise, set and achieve your goals.

Attracting external equity, whether from a business angel, an institutional investor or even a corporate investor, requires an organised and dedicated approach. Here are ten key steps to funding success.