Business Plan

Business Plan

Business Plan Picture

A business plan is a formal statement of a set of business goals, the reasons why they are believed attainable, and the plan for reaching those goals.
Business plans may also target changes in perception and branding by the customer, client, tax-payer, or larger community. When the existing business is to assume a major change or when planning a new venture - a 3 to 5 year business plan is essential.

Why Prepare A Business Plan?

• First and foremost, it will define and focus your objective using appropriate information and analysis.
• You can use it as a selling tool in dealing with important relationships including your lenders, investors and banks.
• Your business plan can uncover missions and/or weaknesses in your planning process.
• You can use the plan to solicit opinions and advice from people, including those in your intended field of business, who will freely give you invaluable advice. Too often, entrepreneurs forge ahead ("My Way!") without the benefit of input from experts who could save them from potentially disastrous mistakes. 

Eight steps that will produce a business plan;

Start-up entrepreneurs often have difficulty writing out business plans. This discipline is going to help you in many ways;

1. Review the two sample plans furnished in this session.
2. Focus and refine your concept based on the data you have compiled.
3. Gather all the data you can on the feasibility and the specifics of your business concept.
4. Outline the specifics of your business. Using a "what, where, why, how" approach might be useful.
5. Include your experience, education and personal information.
6. Fill in the templates at the end of each session with clear language and realistic projections.
7. Print off the business plan templates from eash session into an MS Word document.
8. You may wish to enhance your presentation with bar charts, pie charts and graphics. 

 executive summary from myownbusiness


for you, for us, for a better life :-DD