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Business Plan Examples

Articles for "business plan writing"

Building your Business Plan from the Ground Up

When you are planning and preparing to start a business there are a few things you need to do in order to truly commence. The first and most important thing you can do is get your funding, and establishing a business plan is paramount. What is a business plan exactly? How do you go about writing on? Below are a few important parts of a business plan:

  • Executive summary
  • Company overview
  • Business environment
  • Company description
  • Company strategy
  • Financial review
  • Action plan

==> Download your business plan template now!

These are the main parts of a business plan, but depending on your company, you might find a need for additional sections, or even sub sections. The primary purpose of a business plan is to ensure that you know where you are headed and what you need to do in order to get there. The secondary objective of course is to obtain the funding you need.

What Will you be Spending and Why?

Starting a business requires very precise planning. You need to know how much money you are going to spend, and precisely where that money is going. More than one business has gone down simply because of a financial leak, and it is not always intentional. Curbing these bad habits in the beginning will serve you well and help you get off to a better start.

Your Strategy

How do you plan to proceed? What investments do you plan to make? If you are jumping into an established niche, you will need to set yourself apart from the competition. If the niche is not at all established however, you will need to work hard to ensure customers want it. It is a difficult concept, and starting a business is nowhere near as easy as some people like to think.

A Plan of Action

Putting all of this together into an action plan will become your most important step. The action plan should contain a number of steps, and perhaps a month by month outline. When you are presenting your business plan/action plan to a potential investor, they will want a detailed analysis, and a description of how you plan to move forward.

==> Download your business plan template now!

Conclusion

A business plan is extremely important, and while a few businesses might thrive without one, you should never assume that yours is one of them. Everything must be tied together, and in the end, you will need to create a plan that not only guides your business, but stands up to high levels of scrutiny whether you are presenting your plan to an angel investor or a venture capitalist. The time to learn about business plans is right now, while you are still in the planning stages. It will encompass quite a bit of work, but it will be well worth it.

Peter

How to Write the Company Profile Section of Your Business Plan

Writing a business plan to raise funds from investors doesn’t need to be a daunting task. There are a few standard ingredients that a good plan needs to have, and as long as you know your business and can research the information, putting it together can be fairly simple. Develop each section independently, then put them together afterwards in a logical sequence. Add an executive summary and a table of contents, and you’ll have a professional plan that’s ready to present.

Company Background
The company profile section of the business plan needs to provide a detailed account of the background, such as the history of establishing the company, the reasons for its creation and the progress to date. Provide information on mergers and acquisitions, subsidiaries, business divisions or departments within the company.

==> Download your business plan template now!

Management Team
Show an organizational chart of the management structure, and give the number of employees. Give detailed descriptions of key personnel in critical roles, and include brief bios of senior management. This will help your future investors understand the capabilities of the company, and give them confidence that the management knows what it is doing. List the names of shareholders, members or owners, as well as the board of directors if that applies.

Legal Structure
Present the legal structure of your business and explain why you chose it, and the benefits of the structure in terms of taxation, licenses and permitting to do business. Establish the date when the business was registered and what is its domicilium or legal physical address. Provide details of your state requirements for companies doing business of this type.

Mission and Vision
Talk about the company’s vision and mission statements. If you don’t have these, now is a good time to develop them. They will provide potential investors with an understanding of your ambitions for the business, and the potential it has to grow. Write a mission statement that reflects your business philosophy, the market in which you operate and your competitive advantage or unique selling proposition, which is the reason for customers to choose your company or product in favor of others available.

Products and Services
Identify your products and services, and give details of the importance of each product to the company’s bottom line. Describe the position of your product in the marketplace, and how it stacks up against the competition. List your competitors and explain what percentage of the market share each holds, compared with your company. Include information on demand, market cycles and other factors that affect your sales figures.

==> Download your business plan template now!

This section makes up the first part of the business plan that comes after the table of contents, and serves to give your reader a comprehensive introduction to your business, management philosophy and corporate structure.

Peter

Top 4 Business Plan Tips for Beginners

If you are just starting out as an independent business owner, writing a business plan and presenting it to investors can be incredibly intimidating. In fact, fear of failure and rejection is one of the main reasons why new entrepreneurs tend to put off writing a business plan for months, and sometimes years. There are no rewards without risks, and that’s something every entrepreneur needs to keep in mind. Writing a business plan is one of the key elements of creating a well-funded business model that has great potential for growth and success. While it’s certainly challenging and a little stressful at times, there are a few things you can do to get motivated and write a business plan that will impress investors enough to join your team.

==> Download your business plan template now!

1. Think of a business plan as a collection of smaller plans rather than one large document.
Looking at a business plan as a whole can make you feel stressed out and overwhelmed. Breaking it up into smaller parts that you can work on over time is more manageable. If you have a busy schedule, you can easily write a great business plan by committing to finishing one section each week. You can have a complete document in just a few weeks’ time.

2. Use a business template as a starting point.
When you are a complete beginner, writing a business plan from scratch can be extremely challenging. Fortunately, you can find a variety of high-quality business plan templates online to make the process smoother and less time-consuming. Business plan templates provide a framework for creating a professional-looking plan that investors expect to see from all serious entrepreneurs. You’ll have to edit the template based on your needs and objectives, but it’s a useful guide for getting the first draft of your business plan done quickly and efficiently.

3. Don’t underestimate the power of accurate market research and numbers.
While your business plan is technically a prototype document that will need revisions before it’s put into practice, it should be as realistic as possible. Write it as if you were opening your business tomorrow and not in the far off future. It’s very important to present a realistic plan that is representative of the current market and projected economic conditions because investors need to know that you understand how the market works.

4. Know how your business will be operated before you finish your business plan.
Some entrepreneurs know that they’ll need to split up the responsibilities of running a business between a few different people, but they aren’t sure what role each team member will have down the road. The problem is that investors look for ready-to-go business plans that portray all aspects of running a business including day-to-day operations.

==> Download your business plan template now!

Even if you don’t yet have a team together, you should know how your business will operate on a daily, weekly and monthly basis. Explain what role you will play in running it and how you plan to divide work among others in order to achieve maximum success every single day.

Peter

How to Create a Plan for Your Business

Writing a business plan is an important step when starting or operating a business. For the success of your business, you can create a business plan and use it as a roadmap. A business plan is also an important tool for getting the attention of investors and lenders. Once you have decided to start your own business, it is important that you prepare a solid business plan.

You can write a business plan once you have the right information. The essential elements of writing a good business plan include:

==> Download your business plan template HERE!

Write an executive summary. The first part of a business plan is the executive summary, and it is the section that most people will read first. An executive summary is a brief overview that contains only high-level information, but presented in a way that arouses the interest of the target audience. It is used to lure potential investors into reading the entire plan. If it fails to get the investors interested, they will not read the rest of the plan. Describe your business’s mission and vision, goals, functions, marketing and sales strategies, and a financial overview. Make your mission statement a centerpiece and in a clear, one or two sentences state tell who you are, and why you started your business. The executive summary of a business plan is critical.

Write your business description. Include your company overview and that is, information about your company, why and when it was formed, its mission, business model, and strategy. You should also include information about your company’s location and contact details.

Describe what you are offering. The product and service section of your plan is where you talk about the products or service you are offering. In this section, you should explain what benefits your product or service offers to potential customers. If you are selling products, include information on how and where the product is manufactured. If you offer a service, describe what type of service you provide.

Prepare a market analysis. This segment should be impressive. Include an analysis of the market and any marketing data available. Provide detailed information on your marketing ideas and goals. Define your target market and include details on how you plan to reach out to your potential customers. Identify your competition and include information on what makes your business unique.

Create a financial section. This section of the business plan should show the numbers and should be done by a professional. This is where you should include projected financial statements, expected startup expenses and potential sources of funding. Flow charts and graphs can be used if appropriate.

==> Download your business plan template HERE!

Showcase your management team. The management section of the business plan is where you introduce your management team and highlight their experiences and their responsibilities. Lenders and investors will be impressed to know that those who run your business have thorough knowledge of the market and product, and can successfully operate your business. Also include any impressive credentials and accomplishments of your management team. This will help pump up your business plan and get investors interested in working with you.

Peter

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