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Business Plan Examples

Articles for "Business Plans"

Learning How to Write a Professional Business Plan

A business plan will serve two vital purposes and has to be written with both in mind to ensure that it is a success. You want to create a model that you and any business partners and investors can follow as you progress. You want to lay the foundations for the road map of success, and ensure that everyone involved knows where you are heading.

Keeping your eyes focused on the future is essential, and ensuring that you have a concept and a plan is vital. However, some people are unsure of where to begin with their business plan, and find the concept daunting. You need to ensure that the business plan is professional and contains all of the relevant information that you need.

==> Click here to learn how to write great business plan!

If you are seeking investment for your business, you will need to produce a business plan that is appealing and outlines every area of the business. There should be relevant information contained relating to the financial elements of the business and how the investor would recover their investment. You want to ensure that you make the investor feel confident to place their money in your concept and dreams.

There are four main elements to every business plan, and with these you can elaborate and develop the content further. You will need a description of business, management elements, marketing strategies and financial information. There should be a summary at the beginning, which is vital to ensure that you capture the attention of the investor.

The summary must provide a strong overview of the business, and outline the concept and the products. You should also describe the investment which is needed, and how quickly the business will make a return on this money. Many investors do not read any further if they feel that the summary is weak, or does not interest them.

You want to portray your energy and passion within this section and provide the investor with a core reason to give you money for your business. The description of the business should be a detailed assessment of what you have achieved, past profits and brief financial information. You want to ensure that you end the description detailing your plans to move forward and where you see the business in the future.

Discussing the product or service is essential; however, you need to ensure that the people reading your business plan understand. Investors are typically intelligent, knowledgeable people; however, your business may not be something they have come across before. The marketing part of the business plan needs to impress, and display that you have unique ideas.

==> Click here to learn how to write great business plan!

The financial part of the business plan can be quite intense, with a huge amount of numbers to provide. Therefore, if you are not comfortable with data and numbers, you need to seek professional help. All investors will be interested in this part of your business plan, which needs to be 100% correct. You need to display the start up costs, alongside the projected revenue for the coming years and show that you understand this side of the business.

Peter

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

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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

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