A cover letter should accompany a business plan sent to an investor or other
stakeholders through the mail. The cover letter should briefly introduce the
entrepreneur and clearly state why the business plan is being sent to the individual receiving it.
As discussed in Chapter 10, if a new venture is looking for
funding, a poor strategy is to obtain a list of investors and blindly send the plan to
everyone on the list. Instead, each person who receives a copy of the plan
should be carefully selected on the basis of being a viable investor candidate.