Writing a Business Plan
A business plan essentially covers two main areas which are firstly, a statement of intentions or objectives and secondly, how they will be satisfied and achieved.
Writing a business plan can take considerably time. Changes and revisions might frequently be adopted as new information is obtained as the result of research and discussions with others.
It is worth spending extra time formulating a business plan as efforts employed at this stage can often result in a smoother journey for the enterprise later on as the plan entered its execution stages.
Detailed Appraisal of the Business
Drafting and finalising a plan is a similar exercise to that of carrying out a detailed business appraisal. Again here, the purpose is to convey a well thought-out idea, provide some form of credible analysis and demonstrate awareness of the salient factors which will influence the levels of success the business might achieve.
Business Plan Templates
Whist there are standard business plan templates available from various sources, each enterprise will probably be distinct in one or more ways. Therefore any generic document used will require some level of customisation to make to relevant to the proposal in question.
Business plans which contain irrelevant or incorrect information will not stand up to any form of intense scrutiny which they may have to undergo in order to the idea to move on to the next phase.
Sections of a Business Plan
Business plans may contain several sections each of which covering different aspects of the proposed enterprise and its environment.
These stages might include:
- Statement of objectives
- Financing
- Marketing
- Customers and market
- Main competitors
- History
- Products and services
- Staff and employment
- Location and premises
- Main suppliers
- Management