Your business plan is a document that includes everything that you want and hope to achieve in your business as well as the resources that you have to make it happen. Your business plan is your main decision making tool and should be full of all the information which is needed to help you decide whether or not to pursue a business goal. Your business plan is used for a variety of reasons such as financial gain as it is down to your business if you are granted start-up business finance. It is thought by many that this is the only real reason for having a business plan when it is merely just one of the reasons. Your business plan is also used to help you spot potential pitfalls before they happen and to focus your development efforts as well as to work as a measure of success.
It has been said that there is no fixed content of a business plan as what you put in it depends on what is relevant to your business; however there are certain issues that should be placed in all business plans such as background information about your company and all of the following:
An executive summary Your executive summary is a written overview of the business that you want to start. This aspect of your business plan it a vital one. Many lenders and investors make judgments about your business based on this section of the plan alone.
A short description of the business opportunity Who you are/ what you plan to sell/offer and to who and why
Your marketing and sales strategy Why you think people will buy what you want to sell and how you plan to sell to them.
Your management team and personnel Your credentials and the people you plan to recruit to work with you.
Your operations Your premises, production facilities, your management information systems and IT.
Financial forecasts This section translates everything you have said in the previous sections into numbers. It is important to note that even the presentation of your business plan should be well thought out and. There are many tips that should be considered when it comes to how you should present your business plan. These tips are as follows:
• Keep your plan as short as possible; people are more likely to read it if it is short and to the point • Keep presentation professional, even if your plan is only intended for internal use • A well presented plan will reinforce a positive impression that you will want to create of your business.
You should include binding and a contents page as well as page and section numbering throughout your business plan. You should also get at least two people to read and check your plan.
If you are having trouble writing your business plans there are numerous companies available who will provide you with all of the help that you will need to write your plan. So for more help get in touch with an advisor today. Helen is the web master of Angel Start-ups, specialists in all aspects of Writing your Business Plan.
