10 Take-Aways for Writing a Business Plan

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10 Takeaways for Writing a Business Plan

Just as writing a business plan is quintessential, equally tedious and complex is its execution. Even the smallest and minuscule of information has to be taken into view while jotting down a business plan. Some guidance in this regards certainly can be benefiting.

1. For whom it is to be written: It is important to write the business plan by considering for whom it is to be written. For different clients, the perspective might differ and hence deciding your targeted client is important before writing a business plan. Business plan for investors should be of 20 to 25 pages as you need to go into all the details about your product or services and its potential. While if the business plan is being forwarded to banker a 10 to 15 pages document will do comprising of mostly figures and statistics of your company.

2. Outline of Business plan: It is important to outline your business plan before actually starting for gathering information and doing research for it. This will save hassles and only relevant information will be collected.

3. Collecting information and making research: Once the goal is set its then time to start collecting information and doing some research. Several key points are important while doing these functions like past experience, internet and published information, paid articles, feedback of customers, experts and fellow business persons etc.

4. Making files: So as to make the work simpler and less complex, different files can be created. Like, for customer feedback and expert opinion one file and for information gathered from library or internet another file. This way all the information will be arranged in proper manner without making a mix.

5. Do an overview first: Before going for interviews with experts always go prepared. Get full information of the industry and understand its market viability, latest updates and successes as well as failures. This will help you in performing well at the interview session.

6. Financial projections: Once you are done with all the analysis and collections, its time to undertake the job of financial projections. Work in tandem with you accountant and account advisors to get a promising projection.

7. Summarize: When the entire business plan is done with, write down a good summary of the entire plan where only strong and utility points should be highlighted. A summary should be positively written with more emphasis on the growth potential of the business and heights it can achieve. Summary can be important as many people go through it first to understand the depth of your business plan.

8. Analysis: After gathering all the data and information, the process of analysis starts. In this various factors like contingency plan, risk assessment, competitive profile etc. is analyzed.

9. Read it and review: Review the business plan 2 or 3 times and edit it wherever necessary. Make it more concise, to the point and realistic.

10. Presentation: When its time to present to your prospecting fund raisers, the presentation should be elegant and formal without any elaborate overtures.

Things you should do if you have a small business or a startup:

• Certify your business with Crederity Trusted Seal.• Promote your business with a Trust Card.• Verify your new and existing hires.• Verify your partners, suppliers, vendors and customers/clients.• Read case studies for assessing Crederity Trusted Program• Educate people by sharing this post in your network.•Give your feedback by writing a comment or contacting us.

Thank You!