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Writing a Business Plan
If you are an entrepreneur and want to have a good look at your business operations and its future prospect, its time for you to create a business plan. A business plan not only provides you a picture of your company, but it is a must have document in order to attract investors and presenting your business affairs in front of stake holders. A business plan is use to answer following questions:
Ø Who is the owner of business and his/her skills and expertise?
Ø What is the product or service business is selling?
Ø When will you launch your product or expand your operations?
Ø What makes you think you will be successful in this venture?
Ø How are you going to achieve your goals; strategies, planning and resources?
There is no set rule in the industry for writing a business plan, however, there are some elements found in common, such as executive summary; almost every business plan starts with it. See the outline below that is usually found in business plan.
1. Executive Summary: Usually it is takes a page or two, always written in the end to summarize business plan. A concise summary helps reader underst
anding what this business plan is all about, it sets the tone right from the start.
2. Company Description: It provides overview of the business plus its historical achievements, concepts, goals and founders profile.
3. Product/Service: This section describes what business sells to generate revenue. There can be more than one product mentioned in a business plan but usually focus is kept on single brand. Although technological aspect of product is mentioned here but focus remains costumer benefits.
4. Market Analysis: This section covers all the market related research work such as market size, trends, growth, potential, customer needs and etc.
5. Operational Plan: This section covers product operational life cycle, from supply to distribution. This section is critically scrutinized by investors, as it is the backbone of all business activity.
6. Financial Analysis: Financial statements such as balance sheet, income and cash flow statements are presented in this section. In addition depending on requirement historical data and projections are presented in range of one to five years.
For more information, samples and tips on business plans writing, please visistBusiness Plan Writers Startup business plans
Ø Who is the owner of business and his/her skills and expertise?
Ø What is the product or service business is selling?
Ø When will you launch your product or expand your operations?
Ø What makes you think you will be successful in this venture?
Ø How are you going to achieve your goals; strategies, planning and resources?
There is no set rule in the industry for writing a business plan, however, there are some elements found in common, such as executive summary; almost every business plan starts with it. See the outline below that is usually found in business plan.
1. Executive Summary: Usually it is takes a page or two, always written in the end to summarize business plan. A concise summary helps reader underst
2. Company Description: It provides overview of the business plus its historical achievements, concepts, goals and founders profile.
3. Product/Service: This section describes what business sells to generate revenue. There can be more than one product mentioned in a business plan but usually focus is kept on single brand. Although technological aspect of product is mentioned here but focus remains costumer benefits.
4. Market Analysis: This section covers all the market related research work such as market size, trends, growth, potential, customer needs and etc.
5. Operational Plan: This section covers product operational life cycle, from supply to distribution. This section is critically scrutinized by investors, as it is the backbone of all business activity.
6. Financial Analysis: Financial statements such as balance sheet, income and cash flow statements are presented in this section. In addition depending on requirement historical data and projections are presented in range of one to five years.
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