The same holds true for business plans. It's not the length that matters, but the quality of the content that keeps reader attention. Straightforward, hyperbole-free prose is the way to go.

Keep in mind that there is no "one size fits all" document. The tone and contents of a business plan written for venture investors should be different than a plan written for a SBA lender or even a corporate executive who evaluates joint venture opportunities.

Business plan writers have to tailor information to the interests of the audience. Documents written for lenders should emphasize indicators of financial stability so lenders gain confidence in the business's ability to repay loans on a timely basis. In contrast, venture funds look for fast growth. Near-term cash flow is less important than revenues, profits and working toward the day the company is sold for a premium sum.

For tech-oriented business builders who prefer to write good code over a good paragraph, today entrepreneurs can get in the door of a venture fund with a well-written 5 page executive summary plus a 10 to 15 slide Power Point presentation. The full plan is often requested after the executive summary attracts funding interest.

What else are VCs looking for? DHR International's Scott Rabinowitz, who specializes in finding talent for venture fund portfolio companies says, "VCs are drawn to patterns of management accomplishment. The wrong management team can be just as costly as any product development error."

Investors know this too. In fact some investors I know just skip to a business plan's management team description. If they see one or more senior management members previously worked at a successful startup, managed a similar development project, or were top revenue producers at larger companies, then they read on. Better business plans also outline what specific management positions will be filled with new investor money.

Now, back to your question about business plan length. The average startup plan is about 20 pages; business plans for more established companies can be 30 pages or more. Still, because most investors stop reading when the first few pages are too vague or full of hype, I'd say the business plan length is less important than the quality of the executive summary. Don't bury your best business attributes on page 15 when time-strapped readers want to see it on page one.

Recently I sat in on a meeting in which a potential investor asked an entrepreneur about his company's competition. With a little too much bravado, the entrepreneur stated that his business had no competition. This seemingly favorable response was enough for the investor to make a decision. The entrepreneur got what is called in venture circles as "a fast no." It's just too risky for investors to back CEO's who don't acknowledge competitive risks and try to guard against them.

Your business plan should present a detailed, candid appraisal of your competition and other factors that may affect the success of your second location. Investors will also want to know how your company's approach is unique, sustainable and better suited to customer tastes than what is available in the marketplace.

Investors write checks to CEO's they trust. If potential investors find you have omitted important information or bent the truth in the business plan, then they will assume you can't be trusted to manage $100,000 with a high level of integrity.

So spend the time to research and write a thorough business plan that reflects your two-fold management objective: how you will maximize investor gains and at the same time, minimize the potential for investor losses. Make it your best work. You can do it!