WRITING A BUSINESS PLAN

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RECOMENDATION -If you are going to use your business plan for raising money, presentation and formality are very important

WRITING A BUSINESS PLAN

Ten Ways to Ruin Your Business Plan

Especially important if the business plan is prepared for a lender:

Too much focus on collateral.

Starting the plan with unrealistic loan amounts or terms.

Unwillingness to personally guarantee any loans.

No indication that the owner has anything at stake.

These errors in business plan preparation and presentation will undermine the credibility of the plan

Lack of specific, detailed strategies.

A lack of understanding of financial information.

Too much “blue sky”

Unsubstantiated assumptions

Outdated historical financial information

Submitting a “rough copy”

Business Plan Outline

Section Three: Supporting Documents

Supporting Documents

Section Two: Financial Data

C. Sources and Uaes of Funds

B. Break Even Analysis

A. Projected Financial Statements

Section One: The Business

I. Application and Effect of Loan or Investment

Is important wether you are seeking a loan

H. Personnel

The success depends on their ability to recruit

G. Management and Operations

It is important to discuss management qualifications and structure

F. Competition

Business by nature is competitive, and few businesses are completely new. If there

E. Location

Locations with greater customer traffic usually cost more to buy or rent, but they require less spending for advertising to attract customers.

D. Marketing Plan

In this section, you include the highlights or your detailed marketing plan.

C. Market Analysis

For start-ups or existing businesses, market analysis is important as the basis for the marketing plan and to help justify the sales forecast.

B. Products/Services

In this section, describe your product offering.

A. Description of the Business

describe in detail each part (A through I) of the previous Business Plan Outline.

Basic Business Plan Guidelines

SECTION THREE

contains supporting information to reinforce the first two sections.

SECTION TWO

describes in numbers the outcome of your business strategies and plans.

SECTION ONE

It should be thorough, but concise and to-the-point.

Why Write a Business Plan?

It communicates your idea to others

Forecast cash flow, show liquidity and ability to repay debt

Forecast profitability and investor return on investment

Determine the amount and type of financing needed

It provides an operating plan to assist you in running the business and improves your probability of success.

Show financial outcomes

Develop production, administrative, and marketing plans

Opportunities and mistakes

A Business Plan helps you evaluate the feasibility of a new business idea

Financial

Management

Marketing