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How To Write A Business Plan Step By Step

A business plan is a document that describes the purpose and objectives of a company, its products and services, target market, financial forecast, and its strategies. Many beginning entrepreneurs wonder why they should write a business plan. Well, it’s not a good idea to rush into new venture without having a blueprint – a guide to follow. It also serves to attract investors when you seek financial backing.

When writing a business plan you need to follow a certain format. …

Three key elements form the underpinning of any persuasive business plan.

Market Research

The first thing any investor will want to know about your company is its potential for growth within its market. That means you must find data that reveal the presence of a large, expanding market for your company’s service or product. Furthermore, the data must prove that your product or service is something customers need, not just want.

Depending on the nature of your company, your market research can come from various resources: reports from trade, educational and …

Critical Sections of Your Business Plan

Don’t look at the ten sections of your business plan as something to endure; look at it as your chance to win over potential investors. Every section has a specific purpose.

Executive Summary: This is the “hook” of your business plan. In it, you should discuss your product, your market’s size and needs, and your company’s qualifications to meet those needs. Outstanding executive summaries entice investors to keep reading the rest of the plan.

Company Analysis: This is where you …

The Process Of Writing A Business Plan

The key to coming up with a solid, professional business plan in record time is to do your research ahead of time. You need to know if there is a market for the product or service that you plan to provide and who your prospective customers are as well as what kind of competition you’re up against. Once you’ve done your research, you need to come up with a strategy for success, determine what your projected costs and revenues will …

Creating Your Venture Capital Elevator Pitch

You might think elevator pitches are cliche ⌐ and without real substance, but successful entrepreneurs and venture capitalists frequently talk about the importance of these short “presentations”. As an entrepreneur, you need to have the ability to quickly and concisely describe your business and why it will succeed. Learn your elevator pitch, practice it repeatedly, and keep it shorter than two minutes. The opportunity to deliver it could arise on a moment’s notice. A tremendous number of business deals are …

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