You’ve heard of dressing for success, well, now there’s planning for it too. Nothing is more important when starting a new business than your business plan. Struggling to get your ideas down on paper? There are many resources available online which can help you.
It’s easy to find websites offering free templates for business plans, and quite often you’ll also find a basic template in your word processing software. Websites are available which offer not only business plan templates but also advice on what to include in your plan – and if you need further advice there is a wealth of it available online, or why not read a couple of books on creating the perfect business plan!
Young people under the age of 25 can apply to the Princes Trust for support in getting their business off the ground, but did you know that this also includes help writing a business plan? An advisor can take you through the necessary steps to complete a great business plan which can be used when applying for funding – most lenders will insist on seeing your plan before handing over funds.
Plan Writing Companies
There are Business Plan Writers out there who will even do your business planning for you! These companies have a wealth of experience in the world of business plan writing, so they know exactly what makes a good plan. You simply turn up with your ideas for a consultation and set the ball rolling.
What to Include
As a basic rule, your business plan needs to include the following:
Your basic contact details
Executive Summary – this should include the business objectives, staff, market, plans for development, summary of finances and details of any funding received or applied for
Business description – describe the business idea and any history in the sector
Staff and management – this is your chance to describe yourself and anyone else involved in the business
Services and products – you should talk about what makes you unique – include details of your pricing strategy and how you intend to develop products and services in future
Your market and marketing strategies – detail what market research you have carried out as well as how you intend to market your business to customers and your sales methods, such as internet, mail-order and so forth
Finance – the final section of your plan should include a detailed financial analysis as well as forecasts for profit and loss – it helps to include a risk analysis too.
It might sound complicated, but by breaking your business plan down into several easy to manage sections and tackling one at a time, you will soon have a plan that will see your company secure the funding it needs to be successful!