Every business should have business plan. Investors
and lenders get business plans every day. Most plans get a cursory look before they are either discarded or kept for further review. Business Plan is a road map for the future. Here are the simple steps to write a Business Plan:-
and lenders get business plans every day. Most plans get a cursory look before they are either discarded or kept for further review. Business Plan is a road map for the future. Here are the simple steps to write a Business Plan:-- Be sure to gather all the information for your Business Plan
before you start writing it.
- Organise the information on your Company, Product or Service, Customers, Market, Competitors and Potential Risks.
- Organise your research in outline form, then start writing.
- The first section of your plan should be Executive Summary - a two page description of elements covered in details later.
- Describe your Company, its purpose, skills you and your Management Team
have.
- Explain your Product or Service. How you will provide it to the customers? Costs involved and supply sources.
- Detail about the market you are entering, general trends, market segment, target customers, customers' buying habits and an analysis of Competition
.
- Lay out Marketing Plan. Explain your Marketing Strategies
and costs involved.
- Detail your yearly revenue projections
and your expenses.
- Limit the plan to less than 50 pages.
- A Business Plan is a never ending process. As your business grows, update your business plan projections.