How to Write a Business Plan
Writing a business plan is never easy. For you to achieve a perfect business plan, you have to consider a lot of things. But how do you really write a business plan? Well then, let me help you make in writing your business plan by giving you some ideas that you might want to consider for you to achieve your goals.
Rules in Writing Your Business Plan
1. Make it short
Always remember that you have to make your business plan in a concise but short manner. You would not want to write a business plan that contains 20 or 30 pages, right? We are sure that no one would want to read that. And also, always remember that your business plan is your key to get your goal and to grow your business. Having a long business plan can only be so much of a hassle and will never be read by anyone.
2. Know your target
You should always consider your target people for your business. Always explain briefly your product and use words that everyone can understand. Always make adjustments for you to get your goal because if you know your target, then getting them will be easy for you.
3. Don’t get scared
Never get scared of other business owners and entrepreneurs because believe me, they are not even expert when it comes to business. If you know your business very well, then writing a business plan will not be as tough as you might be thinking.
Things that Your Business Plan Should Contain
1. Executive Summary
This part is very important because it contains the overall description of your business. A summary of your business in other words. You should be able to tell your reader what you want on this part.
2. Opportunity and Market Analysis
This part should contain details about your product that you are trying to sell. It should also contain your target market. You should also know here information about your competitors and your market.
Contains how you are going to take those opportunities in action. Telling your readers what you can do for you to take advantage of that opportunity.
4. People behind you
Always remember that those investors you are trying to win are looking for someone that has a great team. That’s why, on this part of your business plan, you should tell them about the people behind you. It should also contain your legal structure, location, and history if you have.
5. Financial Plan
Of course, every business should have a financial plan, so must also indicate it there. Tell your target investors what are your target money you will be needing for the coming years and provide them with a sheet balance as well.
This part here is actually optional but you might as well want to do include it. This part commonly contains permits, resume, and other information.