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Business Plan Examples

Articles for "Entrepreneurs"

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

Business Plan Tips for Entrepreneurs

Before you begin to write a business plan, keep in mind that the purpose of a business plan is to make a compelling argument to a potential investor that your business is a solid investment. It should tell the reader what your business is about and how it will benefit investors in the long run.

Learn how to write great business plan in 8 hours or less!

As you start writing your business plan, keep the following in mind:

What can your company do?

Suppose you have a plan for a new business which you envision growing into a profitable multimillion dollar company. You understand how it will work, what you’re going to need to get started, how you’ll deliver your products or services to your target market and an exit strategy via a buyout or initial public offering (IPO).
Knowing what needs to be done is half the battle; the next step is to figure out exactly what you can do towards this goal. Do you have the resources and capabilities to produce your products and services – and if you don’t, do you know how to get the resources you need? Who’s on your management team? Do they have a history of success that would make a venture capitalist interested? How about your product or service – is there a market for it? If so, is this market growing and can you pass the barriers to entry in this industry? Can you set up your own barriers to entry to keep the competition at bay? Continue Reading…

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