subject: Introduction To A Business Plan [print this page] Writing a good business plan is highly essential for your businesss future. A business plan is nothing but a document which describes what you are planning to do with your business and how you are planning to make further steps. Many people dont know but a business plan can actually help you perform many different tasks for those who actually put the effort to read or write them.
A business plan is also used by those entrepreneurs who are seeking for investment from other potential investors for their business funding. They can also be used to attract key employees, deal with suppliers, etc. Basically a business plan is just a simple document which makes your whole business.
Now after reading all the above description you may be wondering about how to write a business plan and what all is included in the business plan. As mentioned above a business plan is a piece of documents which states your business goals, the strategies which you are going to use in order to achieve your goals, the problems which you may face while you are in the business industry aiming for success, the structure of your business and the total amount of initial capital required to run your business successfully.
A business plan when put together properly can be really impressive and helpful in the later stages as well. A good business plan follows generally accepted guidelines fro both from and content.
Usually there are three primary parts to a business plan.
The Whole Concept of Your Business This is the first primary part of a business plan. In this section you discuss the business structure, the industry and any other particular product or service that your business provides and how you are planning to make your business successful.
The Market Place of Your Business In this section your post an analysis of your market place and describe the potential of your business in the industry. Also in this section you describe the potential customers who and where they are and what makes them buy the product or services which your business provides. In this section you can also provide the details of your competition in the market and the strategies which you will use to overcome them.
The Financial section This is the final section of your business plan which contains your income and cash flow statement, balance sheet and other financial ratios such as break even analyses. It would be good if you can get a bit of help from your accountant so that it can be as detailed as possible with no errors.
Its possible to break down these components even more.
1.Executive Summary
2.Description of your business
3.Marketing Strategies to be implemented
4.Analysis of your competition and industry
5.Structure and design plan
6.Management plan for your business
7.Financial Factors of the business
While writing a business plan you have to make sure that even if your business plan is really detailed, the pages should not be more than 100. Normally a typically business plan is from 10-20 pages.
