Business Plan - Step-by-Step Planning Templates

 

how to draw up a business plan

section of the business plan. Then expand on that statement by telling more about each item in the text that follows. There is no set length to a business plan. The average length seems to be 30 to 40 pages, including the supporting documents section. Break the plan down into sections. Set up blocks of time for work with target dates for. Mar 08,  · Ah, the infamous business plan. Naturally, every new business needs to follow a specific [plan] so that management can set goals and measure performance over time. Yet Author: Ryan Himmel. Bplans offers more than free sample business plans in a wide variety of industries. If you're looking for a tool to walk you through writing your own business plan step by step, we recommend LivePlan, especially if you're seeking a bank loan or outside investment and need to use an SBA-approved.


How To Write A Business Plan | ExpertHub


Show less A business plan refers to a written document that comprehensively outlines what your business is, where it is going, and how it will get there. The business plan outlines in specific terms the financial objectives of your business, and how it will position itself to achieve those goals in the context of the current market environment.

In addition, the business plan is an indispensable tool to attract business capital. This article will outline how to create one step-by-step.

To write a business plan for a small business, start by writing an executive summary that briefly outlines your business. Follow that with a company description that explains your business in more detail. You'll also want to include sections on your target customers, how your business will be structured, and what products or services you will offer. Finally, how to draw up a business plan, conclude your business plan with a section on your marketing strategy and also a funding request for potential investors.

For help writing each section of your business plan, read the article! This article was co-authored by Michael R. Michael R. Lewis is a retired corporate executive, entrepreneur, and investment advisor in Texas.

SG SG Courtney Ann Cash. Lewis Updated: May 22, There are 15 references cited in this article, which can be found at the bottom of the page. Determine the type of business plan you will use.

While how to draw up a business plan business plans share the common objective of describing a businesses purpose and structure, analyzing the marketplace, and creating cash flow projections, the types of plans differ. There are three major kinds. The mini plan. This is a shorter plan likely 10 pages or lessand is useful for determining potential interest in your business, further exploring a concept, or starting point to a full plan.

This is a great starting point. This can be considered the full version of the miniplan, and its main purpose is to outline, without emphasis on appearance, precisely how to build and operate the business. This is the plan that the business owner would refer to regularly as the business moves towards its objectives. The presentation plan is meant for individuals other than those owning and operating the business.

This could include potential investors or bankers. It is essentially the working plan, but with an emphasis on sleek, marketable presentation, and proper business language and terminology. Whereas the working plan is made for reference by the owner, the presentation needs to be written with investors, bankers, and the public in mind. Understand the basic structure of the business plan. Whether you opt for a miniplan, or a comprehensive working plan to start, it is essential to understand the basic elements of a business plan.

The business concept is the first broad element of a business plan. The focus here is on the description of your business, its market, its products, and its organizational structure and management. The market analysis is the second major element of a business plan. Your business will operate within a particular marketplace, and it is important to understand customer demographics, preferences, needs, buying behavior, as well as the competition.

The financial analysis is the third component of the business plan. If your business is new, this will include projected cash flows, capital expenditures, and the balance sheet. It will also include forecasts as to when the business will break-even. Obtain appropriate help. If you lack business or financial education, it is never a bad idea to enlist the help of an accountant to assist with the financial analysis portion of the plan. The above sections are the broad components of the business plan.

These how to draw up a business plan in turn break down into the following seven sections, which we will, in order, how to draw up a business plan, focus on writing next: Company description, market analysis, organization structure and management, products and services, marketing and sales, and request for funding.

Format your document correctly. Format section titles in Roman Numeral order. Write how to draw up a business plan company description as the first section.

To do this, describe your business and identify the marketplace needs for your product or service, how to draw up a business plan. Briefly describe your key customers and how you intend to succeed. Joe's coffee is located one block from the local University, and aims to provide a comfortable environment for students, professors, and downtown employees to study, socialize, or simply relax between classes or meetings. By focusing on excellent ambiance, how to draw up a business plan, close location, premium products, and superb customer service, Joe's coffee will differentiate itself from its peers.

Write your market analysis. The purpose of this section is explore and demonstrate knowledge of the market your business is operating within, how to draw up a business plan. You should be able to answer questions like, who is your target market? What are their needs and preferences? How old are they, and where are they located? Make sure to include a competitive analysis that provides research and information on immediate competitors.

List your main competitors strengths and weaknesses and the potential impact on your business. This section is extremely important, as it outlines how your business will gain market share by capitalizing on competitor's weaknesses. Describe your company's organizational structure and management. This section of the business plan focuses on key personnel, how to draw up a business plan.

Include details about the business owners and its management team. If the owners and managers and have extensive backgrounds in the industry or a track record of success, highlight it.

If you have an organizational chart, include it. Describe your product or service. What are you selling? What's so great about your product or service?

How will customers benefit? How is it better than your competitors products or services? Do you currently have or anticipate developing a prototype, or filing for a patent or copyright? Note all planned activities. For example, if you are writing a plan for a coffee shop, you would include a detailed menu that would outline all your products.

Before writing the menu, how to draw up a business plan would include a short summary indicating why your particular menu sets your business apart from others. You may state, for example, "Our coffee shop will provide five different types of beverages, including coffee, teas, smoothies, soda's, and hot chocolates. Our wide variety will be a key competitive advantage as we can provide a diversity of product offerings that our main competitors are currently not offering".

Write your marketing and sales strategy. In this section, explain how you intend to penetrate the market, manage growth, communicate with customers, and distribute your products or services. Will you use sales representatives, billboard advertising, pamphlet distribution, social media marketing, or all of the above?

Make a funding request. If you will use your business plan to secure funding, include a funding request. Explain how much money you need to start and maintain your small business. Provide an itemized summary of how start-up capital will be used. Give a timeline for your funding request.

To accurately complete this step, in some cases it might be necessary to hire an accountant, lawyer, or other professional. For one full year, provide monthly and quarterly statements. Each year after that, yearly statements. These documents will be placed in the Appendix Section of your business plan.

Include projected cash flows for at least 6 years or until stable growth rates are achieved and if possible, a valuation calculation based on discounted cash flows. Write the executive summary. Your executive summary will serve as an introduction to your business plan.

It will include your company's mission statement and provide readers with an overview of your products or services, target market, and goals and objectives, how to draw up a business plan. Remember to place this section at the beginning of your document. When was the business first conceptualized? What are some notable growth benchmarks? Start-ups will focus more on industry analysis and their funding goal.

Mention the company's corporate structure, its funding requirement, and if you will provide equity to investors. Existing businesses and start-ups should highlight any major achievements, contracts, current or potential clients and summarize future plans. Include an Appendix. This is the very last section and it's meant to provide additional information.

Potential investors might want to see this information before making a decision. The documents you include here should support claims made in other sections of the business plan.

 

Write your business plan

 

how to draw up a business plan

 

section of the business plan. Then expand on that statement by telling more about each item in the text that follows. There is no set length to a business plan. The average length seems to be 30 to 40 pages, including the supporting documents section. Break the plan down into sections. Set up blocks of time for work with target dates for. Your business plan is the foundation of your business. Learn how to write a business plan quickly and efficiently with a business plan template. Your business plan is the foundation of your business. Learn how to write a business plan quickly and efficiently with a business plan template. A business plan is a written description of your business's future, a document that tells what you plan to do and how you plan to do it. If you jot down a paragraph on the back of an envelope.