By Gary Spirer
You have an idea and want to get started. Now comes the hard part-the business plan. Without a written plan, getting of the ground is not easy and staying on track will be daunting. Here are the essential steps to business plan writing.
Step 1 Start at the beginning
Prepare a title page with a table of contents to put together the format of plan. The title should be able to bring in the reader’s attention and then at the same time give them a specific description of what the business is all about. Likewise, the table of contents should be in a numbered fashion and provide a brief look outline of the contents that are in the business plan. You should include the executive summary area, which will give an overview of the business type, it’s structure and industry.
Step 2 Outline your staffing requirements
A description of essential staff members and the executive team and a profile of the good or service the business will sell is the next section of the plan. This section is also very important and is read heavily by the creditors that you would try to impress. The background of the executive team should include their work history and education.
Step 3 Write a mini market blueprint
When describing the product or service, be sure to also discuss at length what makes your good or service unique in the industry. This piece of information can make the difference between receiving and being rejected. The market demand for your product and your marketing strategy is included at this step. This portion of the business plan is usually reviewed quickly, but in detail as the viability of your good or service depends upon how well you market it. Include information regarding your target audience and consumer base and plans you have to expand in your chosen industry. Competitor information impresses phlegmatic investors and lenders, who need reassurance of recovering their investment in your firm.
Step 4 Talk about the capital
Risk appraisal, financial preparations, and the accepted SWOT analysis are the next part of the business plan. Creditors will not contribute money to someone they think is inept. For the financial part you should be as detailed as possible about the amount of money required and how every penny will be spent.
Remember, this is the time to show how astute and adept you are in business development. For samples of plans, go to www.myownbusiness.org/s2
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MLA Style Citation:
Spirer, Gary "Steps To Compelling Business Plan Writing." Steps To Compelling Business Plan Writing. 22 Jun. 2010. uberarticles.com. 28 Jul 2015 <http://uberarticles.com/business/steps-to-compelling-business-plan-writing/>.
APA Style Citation:
Spirer, G (2010, June 22). Steps To Compelling Business Plan Writing. Retrieved July 28, 2015, from http://uberarticles.com/business/steps-to-compelling-business-plan-writing/
Chicago Style Citation:
Spirer, Gary "Steps To Compelling Business Plan Writing" uberarticles.com. http://uberarticles.com/business/steps-to-compelling-business-plan-writing/
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