1 Create an Outline
Utilize a regular business plan template. The ten areas of a business plan are in the following sequence: Executive Summary, Company analysis, Industry analysis, Customer Analysis, Competitive Analysis, Marketing Plan, Operational Plan, Management Team, Financial Plan and Appendix. Enter in any information that you already know about in each area. Do not change this template in any way whatsoever. Investors are used to seeing the information presented in this format and need to know where they can find the info that they are seeking.
2 Conduct the Needed Research
Most of the needed research that you will conduct will be for the Industry Analysis, Customer Analysis and the Competitive Analysis areas. Only enter credible niche resources to find out market analysis information such as trends and statistics. When researching information for your Marketing, Operational and Financial Plans, find things such as the start up costs, operating costs, possible physical sites and labor for your industry. Study and inspect your personal business also. This will include current and needed labor for the company analysis.
3 Come Up with a Plan
Once you have conducted the research, figure out if you want to go on with your business plan. You might find out that there is not a market for your business idea and get rid of it. If a market exists, utilize your research to find and pinpoint all income streams from your specified market to business assets. This info will be in your Marketing Plan. Also describe how the company will operate and detail this in the Operations Plan.
4 Figure Out all of the Financials
This advises your Financial Plan. Actions, expenses and income should be indicated in accounting lingo to produce the very important projected financial statements for the business. Utilize a financial template in a computer software package to come up with a reliable financial plan. If you don’t do this, you might have to talk to a professional accountant. Investors really analyze this area the most of all of the other sections of your business plan.
5 Write the Business Plan
Produce the business plan in this sequence: Industry Analysis, Customer analysis, Competitive Analysis, Marketing Plan, Operational Plan, Company Analysis, Executive Team, Financial Plan and last but not least, the Executive Summary. This basically summarizes everything that the business plan has to offer and lures investors into looking at the entire business plan. Push the Executive Summary to the beginning of the business plan, and then add the Appendix. This is where your support documentation like additional info, charts and graphics are kept.
An error that a lot of start up companies make is concentrating too much on their own business and not really being knowledgeable about their market that their business is a part of. Remember all of these things that produce a business plan that will greatly appeal to potential investors.