Before you write your business plan you should think first about what you are going to include in your business plan. The length of your business plan is depend ant on the size of your business and the objectives you want to achieve. On average it should be between 10 to 100 pages but this may vary depending on the operations of your business.
A simple concept will be expressed in fewer words than when you are writing about a startup business which is a new concept which you will have to explain and elaborate on your concept. The length will also be determined by the purpose of your business, its intended use and audience.
When you write a business plan to seek funds from investors then you will have to explain more to the financiers what you intend to do with the money unlike when you write for the purpose of using it in the business for growth and development. When you intend to use it for internal purposes, management team experience and behavior may be excluded.
When writing a business plan you are writing for either a startup business or an established firm. For a startup business these is an entrepreneur seeking funds for a new business venture from financiers or investors. Established firms prepare plans to seek funds for growth of the business. It may also be written to communicate the mission and prospects of the business to creditors, customers and investors. It should be detailed enough to set realistic results and be useful.
Wednesday, October 28, 2009
Business Planning
Planning is a process of anticipating future events and conditions and determining the courses of action to take in achieving organizational objectives. The outcome of the process is the creation of a formal document.
Business Plan Format is a systematic assessment of all the factors critical to your business purpose and goals. It gives an outline of what you are going to write about your business concept.
Your Business plan should cover the following topics; Vision Statement: This is an outline of your business purpose and goals. The People: Gives a resume of yourself and one for each member of staff who will work in the business. Provide all the information required to all the people who will need it and those you will be having relationships with who include lenders, investors and the people in authority like the government. Executive Summary: Write it last. It’s just a page or two of highlights of your outline. Company Description: This defines the legal establishment, history and the start-up plans that you have for your business Product or Service: Describe what you’re selling and what your customers will benefit from by using your products
Market Analysis Once you identify your niche market and how will you be able to satisfy their needs, what will be your mode of distribution to reach your customers. Strategy and Implementation Shows how you will execute your plan and be specific in your execution.
Management Team: Describes your organization structure and the key management team members. Financial Analysis: Include all your financial documents which are the Profit and Loss and Cash Flow tables.
Business Plan Format is a systematic assessment of all the factors critical to your business purpose and goals. It gives an outline of what you are going to write about your business concept.
Your Business plan should cover the following topics; Vision Statement: This is an outline of your business purpose and goals. The People: Gives a resume of yourself and one for each member of staff who will work in the business. Provide all the information required to all the people who will need it and those you will be having relationships with who include lenders, investors and the people in authority like the government. Executive Summary: Write it last. It’s just a page or two of highlights of your outline. Company Description: This defines the legal establishment, history and the start-up plans that you have for your business Product or Service: Describe what you’re selling and what your customers will benefit from by using your products
Market Analysis Once you identify your niche market and how will you be able to satisfy their needs, what will be your mode of distribution to reach your customers. Strategy and Implementation Shows how you will execute your plan and be specific in your execution.
Management Team: Describes your organization structure and the key management team members. Financial Analysis: Include all your financial documents which are the Profit and Loss and Cash Flow tables.
Business Plan
A business plan is a marketing tool that shows the activities that you will carry out in future for your business. These plan enables you to present to the regulatory authorities of your purpose, financiers who you want to borrow money from or the tenant who you want to rent or lease a building. You also prepare a business plan for your own use in your business.
The importance of creating a business plan is to explain and illustrate the vision you have for your business, and to persuade others to help you achieve that vision. To achieve this, your plan will show on a document that you have a firm visualization of what your business is going to be. When it is put on paper it provides a document for future reference. The plan should convince others that your business concept can be successful and that you can actualize your vision alone or as a team into a profitable entity. You should include financial statements like profit and loss account, balance sheet and a cash flow statement. In these financial statements you show your sales revenue expenses and expenses. You will need to indicate how much capital you will require to begin.
The two types of business plans are the Concept Presentation Plan, which has no financial projections or financial statements. It is used is to convince landlords and property managers that you have a good business concept and you are interested in negotiating for the lease of an available space. The other type is full financial business plan which contains financial projections or financial statements. It is prepared when you are borrowing money from financial institutions.
The importance of creating a business plan is to explain and illustrate the vision you have for your business, and to persuade others to help you achieve that vision. To achieve this, your plan will show on a document that you have a firm visualization of what your business is going to be. When it is put on paper it provides a document for future reference. The plan should convince others that your business concept can be successful and that you can actualize your vision alone or as a team into a profitable entity. You should include financial statements like profit and loss account, balance sheet and a cash flow statement. In these financial statements you show your sales revenue expenses and expenses. You will need to indicate how much capital you will require to begin.
The two types of business plans are the Concept Presentation Plan, which has no financial projections or financial statements. It is used is to convince landlords and property managers that you have a good business concept and you are interested in negotiating for the lease of an available space. The other type is full financial business plan which contains financial projections or financial statements. It is prepared when you are borrowing money from financial institutions.
Thursday, October 15, 2009
Business plan
A business plan is marketing tool that shows the activities that you will carry out in future for your business. The business plan enables you to present to the regulatory authorities of your purpose, financiers who you want to borrow money from or the tenant who you want to rent or lease a building. You also prepare a business plan for your own use in your business.The importance of creating a business plan is to explain and illustrate the vision you have for your business, and to persuade others to help you achieve that vision. To achieve this, your plan will show on a document that you have a firm visualization of what your business is going to be.
When it is put on paper it provides a document for future reference. The plan should convince others that your business concept can be successful and that you can actualize your vision alone or as a team into a profitable entity.As you prepare your business plan you prepare financial statements like profit and loss account, balance sheet and a cash flow statement. In these financial statements you show your sales revenue expenses and expenses. You will need to indicate how much capital you will require to begin. The two typed of business plans are the Concept Presentation
Plan, which has no financial projections or financial statements.It is used is to convince landlords and property managers that you have a good business concept and you are interested in negotiating for the lease of an available space. The other type is full financial business plan which contains financial projections or financial statements. It is prepared when you are borrowing money from financial institutions.
When it is put on paper it provides a document for future reference. The plan should convince others that your business concept can be successful and that you can actualize your vision alone or as a team into a profitable entity.As you prepare your business plan you prepare financial statements like profit and loss account, balance sheet and a cash flow statement. In these financial statements you show your sales revenue expenses and expenses. You will need to indicate how much capital you will require to begin. The two typed of business plans are the Concept Presentation
Plan, which has no financial projections or financial statements.It is used is to convince landlords and property managers that you have a good business concept and you are interested in negotiating for the lease of an available space. The other type is full financial business plan which contains financial projections or financial statements. It is prepared when you are borrowing money from financial institutions.
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