How to write a business plan? 10 useful tips
You do not know how to write a business plan? Do not panic! We will teach you how to do it by examples! It’s simple!
How to write a business plan? This question is very often asked, most people who have dared to open or have already opened their job! Everyone knows that a properly written business plan – is the key to the successful development of any company.
Completed business plan should describe your expectations from the new (or existing at the moment) business and talk about your great ideas prospective lender.
A business plan is an original document, after the preparation of which all the issues related to business should be resolved without further explanation. Business plan – it is a working document that can be reviewed and edited along with the change of the current plans and strategies.
I suggest to your attention the 10 helpful tips on the correct preparation of a business plan!
1) How to write a business plan? Initially, make a description (abstract) of the project
It is one aspect of your business plan, even though it should be a last resort.
It is necessary to explain your strategy and vision of the project (what you want to do), to describe the market and the capital that you need (which you intend to do with it), and your competitive advantage. Shorten – a mini business plan, which allows after reading them to explain to anyone that is a your business.
2) In order to write a business plan – Specify the name of the company
You must specify the name of the company, the relevant licenses, what is the ownership, legal structure, a brief description of the product or service and what you plan to do (provide services to engage in retail trade, wholesale trade and manufacturing).
Specify the address of the company, the required area, lessors.
Indicate whether your business is new or an extension or purchase of ready business.
It should describe the goals and objectives of the company and any planned changes.
3) How to write a business plan? Analyze your market
Outline its implementation market and consumer segments for each of the segments.
Specify the scope of the market, moving it into profit for three years, and analyze the increase or decrease in your income with the growth of the market.
What value do you want to receive the service and products to achieve profit and be competitive? Explain why the buyers agree to pay you a specified price.
4) For the preparation of a business plan – tell us about products and services
Tell us about your proposals for goods and services, that on which the consumers they are calculated, what benefit will be the buyer.
Justify than your products or what you have to offer, the best products of your competitors.
Also, tell us how you made product search, and if you intend to produce something that is raw.
5) How to write a business plan? Outline your business strategy and its implementation
Show how you intend to take on the existing market niche.
Will you use advertising or visit trade shows?
6) How to write a business plan? Do not forget about the competitors
What about five of your major competitors explain why the products / services provided by you is better than the other.
Stable if they market? Develops or falls? For what reason? Highlight their strengths and weaknesses, how you intend to act? How will you monitor the activities of competitors in the future.
7) How to write a business plan? Feature your production
Specify how it will be carried out the production and delivery of goods and services, what is your financial policies, and how are you going to get the debts from their debtors.
Also specify how many employees you need, what skills they should possess, if you will teach them.
It is necessary to clarify what kind of equipment and related technology you need.
Remember, if you take into account the legal and licensing aspects related to the future of business.
8) How to write a business plan? Describe the organization of the working process
Who will manage the company?
Include a summary of key managers.
Label job descriptions of key personnel, and a list of relevant consultants.
Calculate the estimated cost of financing.
9) How to write a business plan? Do the financial calculation
Calculate the costs associated with the creation and rental companies.
If it is ready to tell the business financial history or prospective financial performance during the 3 years after the start of business.
Enter monthly income and losses for the first year and quarterly payments for two years ahead.
Also, count the cash flow and current financial statements.
10) How to write a business plan? Keep the accompanying documents in hands
The business plan must include, job descriptions, letters, records, credit history, written commitments, lease and other documents, market statistics and so forth.