Starting Your Own Business & Creating A Business Plan

A professional business plan is necessary when you want to start your own company

. There are many reasons that not only banks but also investors require such a document and this is to evaluate your objection for success, financial proposals and operation guide for your new venture.

Business plans commonly have three major sections plus the coversheet, table of content and an executive summary. Yours should be in length according to your organisation. If it takes you numerous pages to explain the aspect of your direction then so be it but keep in mind that people do get tired of reading page after page of documents, try to decrease the wording within the document as much as possible.

The following is some helpful suggestions as you construct your professional document :

How many pages should my loan request be? : Your small loan request should be ten pages or less with adding in the attachments. If you are seeking a loan, keep in mind that most formal lenders will accept a summary sheet along with the loan application. You will usually need three years of income as well as tax records for small loans.

The business plan cover page : This page is solely for identifying your company from the others. Include your name, logo, contact information, address, and the names of principals.

The executive summary : This is nothing more than a summary of the rest of the plan. This page is what investors and banks will most definitely read your business plans turns into a sales proposal when presented to other people for investment purposes.

Do not forget your supporting documents : Supporting documents are very important. Ensure that you attach copies of these to the. These will be documents will prove your points on many topics within the plan. Also include any professional licenses you might have, contracts, resume's, leases or even company brochure's you might have created for the company you want to start. Promotional material is always a good addition as well.

Hiring a professional to construct yours : Let us face it; starting a small business can be very demanding as well as stressful. If you do not want to deal with the actual writing of a business plan to present to possible investors then look into hiring a professional strategic consultant to perform this for you. Keep in mind this will cost sometimes large fees and most strategic consultants charge by the hours. Make sure you examine the contract carefully while reading the small print.

by: Bercle George

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