| Have you recently made the decision to write a | | | | plain print-out is sufficient. It doesn't have to be |
| business plan either to start a business or expand | | | | pleasing to the eye or full of fancy graphics, just |
| your existing business? If so, congratulations; you | | | | as long as it provides the direction you are looking |
| are taking a step in the right direction, and taking | | | | for. |
| a step which many business owners decide not to | | | | A plan which will be used to obtain finance or |
| take! Business plans are a great way not only to | | | | investment has to be given more attention with |
| stay organized and focused on your goals, but | | | | the layout and presentation being more |
| also to attract financial assistance from financial | | | | professional. This means more detailed explanation |
| lenders or investors. | | | | of the business and your plans; supporting |
| Although making a business plan is certainly a step | | | | information or evidence to back up your |
| in the right direction, you will want to make sure | | | | projections; use of graphics if it helps to explain |
| that it achieves everything that you need. To | | | | complicated ideas. |
| ensure it meets your needs, when writing a | | | | Your plan should also be printed and bound so |
| business plan, there are a number of important | | | | that it looks business-like and professional. You |
| factors you should take into consideration. | | | | should include a pdf version on a CD which will |
| Use a Template Only as a Guide | | | | allow the reader to place a copy onto his PC. This |
| A large number of potential business owners write | | | | little touch goes a long way to demonstrate your |
| business plans that are merely derived from a | | | | seriousness. Your aim is to project your business |
| template they have found on the Internet! If you | | | | in the best possible light. |
| are looking to attract investors or to write the | | | | You may also want to create a presentation style |
| best business plan you can, you have to tailor | | | | business plan. This is Power Point version of your |
| your business plan to the type of business you | | | | plan which can be used to present your ideas to a |
| are planning on developing. For instance, if you are | | | | group of people such as potential financiers or |
| planning on developing a clothes store, you will find | | | | investors. This style will not replace your main plan |
| that your business plan headings and content will | | | | but acts as a back up to supplement the details |
| be different than if you were interested in | | | | contained within the business plan itself. The trick |
| developing your own law firm. | | | | in preparing a presentation plan is not to overload |
| By all means use a template to get into the right | | | | it with information or data - the key points are all |
| frame of mind, but don't follow it religiously - | | | | you need. |
| different business operate in different ways, so a | | | | Should You Write It On Your Own? |
| 'one size fits all approach' is not necessarily the | | | | Writing a business plan that effectively captures |
| best way to write a business plan. | | | | your ideas and vision is not easy. Before |
| Who Will Be Reading Your Plan? | | | | committing your time you should assess your |
| Who will be reading your business plan dictates | | | | skills or experience in this area, especially if your |
| what is included in it. For example, a business plan | | | | business plan will be viewed by others. Although |
| written to obtain financing from a bank will have a | | | | there is a good chance that you could create |
| different focus than one intended to raise | | | | your own professional-looking business plan, you |
| additional capital from private investors, or one | | | | may want to enlist assistance from others. That |
| intended just to give you a roadmap for the year. | | | | assistance may come from a professional |
| For example, bankers are looking for evidence | | | | business plan developer or writer. If you do make |
| that you can afford to repay the loan; private | | | | the decision to write the business plan yourself, it |
| investors are looking for the best return on their | | | | may be a good idea to have someone that you |
| investment, whether that be in the form of a | | | | trust review your plan for you and make |
| dividend or capital appreciation. If the plan is for | | | | suggestions. An independent view can bring up |
| your own use you will be focusing on ways of | | | | many areas you thought were clearly explained |
| measuring your performance against goals you | | | | and even highlight glaring spelling mistakes! |
| have set yourself. | | | | The above mentioned points are just a few of |
| Each of these readers will be looking for different | | | | the many that you should keep in mind. If you |
| things from the plan, so do your own research as | | | | have never created a business plan before, it |
| to what these different groups want. | | | | may be a good idea to take the time to research |
| What Format Should You Use? | | | | business plans and how they should be developed. |
| The format your plan takes will again depend on | | | | You will find a complete guide on how to write a |
| who the intended reader is. If the plan is for your | | | | business plan in my e-book 'The Secrets of |
| own internal use, then leaving it on your PC or a | | | | Writing a Killer Business Plan'. |