Debbie Dragon A formal business plan is an important document for any business.
How to write a successful Business Plan In order to write a successful business plan, you first need to understand what a business plan is, and what its purpose is.
A business plan is an official, conventional written testimonial of a business goal, or of an array of business objectives. A business plan clearly states the reasons why the business targets contained in it are assumed to be realistic and achievable, and also point out particulars of the strategy and logistics to be implemented in order to attain those goals.
A solid business plan should focus strongly on financial goals since this document will normally be used to obtain funding for the venture from investors. A business plan should consider the consumer orientation to products or services, and pay close attention to the consumption habits and perception of the targeted customer.
The business plan should be noticeably directed to a step-by-step process with a defined critical path that identifies the necessary critical success strides to reach the financial goals contained in it in a sheltered and timely manner. In sum, a well thought-out and rational business plan is your best tool to obtain funding, to implement your business, to develop your business, and to nurture it to a triumphant and lucrative end.
There are many ways to write a solid business plan, and many ways to directed to impact your goals, but here I give you some important elements that should be considered in the creation of your best Business Plan Ever!
Front Page - Start with a great looking first page that states the name of the business, the date created, the contact information, and a Confidentiality Notice to protect you business plan in some measure from falling in dishonest hands.
Have a Table of Contents Executive Summary - This section should contain an abstract of your company's present status and future direction.
Keep it to pages. Give details on what kind of company do you intend to become, and what is your perception of your company's image. Background of your product or service - Describe the concept, opportunity, or niche that your product or service has in the marketplace you intent to exploit.
Explain how people manage today to do without your product, or service. Objectives - Near term and long term projections of revenue expected in terms of Annual growth. Management Team - Persuasive and compelling company backgrounds pertinent to your management team's functions and experience, are advantageous references to make evident a solid background, and give surety of a higher probability of future success.
Product or Service Strategy - Furnish your exact concept of the portrayal and desirability of your product or service. Show that you understand this concept and you have it in mind. Production and Delivery - Describe how your products or services will be manufactured and delivered in an acceptable and satisfactory manner to your client.
Customers Profile - Your customers are crucial to you and the business. Depict who are your potential customers, and how will you reach them.
Explain how you will educate the customer to buy from you.
Competition - Show that you know your competition.Understand why you need a strong business plan. Learn how to develop each critical piece of your plan. Workshop includes a comprehensive outline and additional resources. Put simply, a business plan is an outline of goals and the steps needed to achieve them, and while not all businesses require a formal business plan, composing a business plan, in general, is an essential step to starting your own business as it lays out what you plan to do to get your business .
Successful Business Plan: Secrets and Strategies / Edition 5. 5 5 1. by Rhonda Abrams | Read Reviews. Overview. A major revision of the bestselling guide, this edition adds advice on using new technology to present business plans, plus information on financing trends and strategic position development.
Successful Business Plan 4 out 4/5(5). 1 BUSINESS PLAN OUTLINE Use the following outline to summarize your business planning decisions.
Title each section of your written plan as indicated in the outline. Write, in your own words. Mar 27, · A company overview (also known as company information or a company summary) is an essential part of a business plan.
It’s an overview of the most important points about your company—your history, management team, location, mission statement and legal structure.4/5(57). One Page Business Plan – A short, 1-page business plan is a more concise version of a complete business plan. It’s used primarily when you don’t want to divulge the full plan but are starting a conversation with an investor, lender, or other party.