Use a Business Plan Template to Raise Capital
Starting a new business requires start-up capital. Most people have to go to investors and banks to help with the money they need to get started. All lenders will want to review a comprehensive plan before they are even ready to discuss approval of your loan. A good business plan template will assure that your plan is well laid out and answers their questions without confusion. If you do not need investors then that plan needs to be presented to you to actually confirm that you are heading in a positive direction with firm opportunities for profit.
A successful business plan template will be divided into sections allowing the reader an easy interpretation of what your goals are and how you plan to achieve them. It should include the following:
- Cover Sheet. Includes the name of the new business and the principals involved.
- Table of Contents. Easily divides the plan into different sections and allows for easy navigating.
- Executive Summary and Mission Statement. Introduces the business idea, summarizes the ideas and goals and what you intend to accomplish.
- Start-Up Costs and Operations. Lists all the details of the items and costs required to get started as well as the operating costs once the business has opened its doors. This includes all expenses such as rent, supplies, administration, equipment and employees.
- Marketing Plan. Your strategy for advertising and other methods of gaining clients.
- Revenue Projection. Your financial forecast over a period of several years.
Using a business plan template is a great method to get your new business off to a successful start. It gives you a clear picture of what you are starting with, how you plan to achieve it and what your long term projections are. Not only will it save you valuable time but gives you a solid path to follow. Working smart, not hard is definitely a plan for profit.