Steps To Creating A Business Plan

Steps To Creating A Business Plan-79
You know the market, you have the necessary skills. This must be brief, to catch and hold people’s attention.Try to describe the goal and mission of your business in just a couple of sentences. Treat this section as an ‘elevator pitch’ document – it should be succinct and easy to remember.Provide a ballpark estimate of the funding you need and make it clear whether you're open to a negotiation.

In this section, you'll need to lay out your financial projections for your company. Close your business plan with a pitch for funding, and list any supporting data, graphs and charts that bolster your pitch.

If your company is already up and running, list any income statements and cash flow numbers for the past several years, if possible. Make it clear what you're looking for financially from financiers - equity, a partnership or a loan.

Try to cover all departments too, including sales and customer service. You'll need people you can trust, to guide and mentor you at times when you need it. Complex and long documents won’t be read – either by you or by potential investors.

A business plan should be brief, relevant and focused (you can use our free business plan template). The core of a good business plan should be just a few pages long.

If you claim sales figures twice as large as the competition, for example, they may well think you're not being realistic.

A good business plan shouldn't have more than 25 or 30 pages, and many good one's clock in at 15 pages.You might be starting small, but you don’t have to stay that way.So write down the possible opportunities for your business as it grows.Include a brief history of your company and mention any top-level talent you have aboard to get your company off the ground. What will your company produce and how will it benefit customers?In this section, you'll detail the marketplace you'll be competing in. What kind of research and development have you already put into your company and what results are you getting - and expecting?Once you've attracted their attention, then follow up with the more detailed, traditional business plan.This opening section kick starts your business plan and briefly outlines the key points of your plan.What other opportunities will you have if your business grows as planned? You need to explain how your business will differentiate itself from all the others. What are the daily tasks that need to be done when running the business?That might be based on price, service, quality, range or value. Include all business processes such as manufacture and packaging. How will you find people whose skills complement yours? Also think about who you want as your business advisors.You may be wondering why you need a plan in the first place.After all, you have a clear idea in your mind about what you want to achieve. Here are just a few of them: This is where you describe your company and the product or service that it will sell.


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