A great business plan is the best way to show bankers, venture capitalists, and other investors that you are worthy of financial support. Make sure that your plan is clear, focused and realistic. Then show them that you have the tools, talent and team to make it happen. Want to leave it to the professionals?
Your operations - your premises, production facilities, your management information systems and IT - see business plan: your operations. Financial forecasts - this section provides details of cash flow forecasts, profit and loss accounts and balance sheets - see financial forecasts for your business plan.
A business plan is a critical tool - not just during the start-up phase, but for established businesses also. Reviewing your business plan and updating it regularly gives you a chance to monitor your progress and take corrective action if things aren't going to plan. Importance of reviewing your business plan.
The Executive Summary is perhaps the most critical element of your business plan since it if doesn’t capture the reader’s attention, they won’t read any further. In one-to-two pages, you need to convey what makes your business unique, what you provide to customers and how you’ll perform financially in the short-term, that’s three to.
Because this is a snap decision you need to make sure that: your business plan looks professional: the reader most likely has a huge pile of plans he needs to go through and he cannot afford to waste time on something that doesn't look serious enough. So make sure that your plan is nicely formatted and doesn't make a bad first impression.
Your business plan is the foundation of your business. Learn how to write a business plan quickly and efficiently with a business plan template.
The purpose of a Business Plan is to show what your goals are and how you’re going to achieve them so remember to put your objectives at the heart of your plan. For example, if one of your goals is to generate 10 new sales per month, then in your marketing section you’ll need to think about how many sales each promotional channel needs to deliver in order to support this objective.
If you are expecting to expand geographically or think there is a chance your growth might spike at any minute, your customer service plan needs to be able to accommodate this expansion. Anyone who has worked at a fast-growing business knows that if revenue starts flowing in without the proper structure, the results can be catastrophic for the long-term prospects of the business.