“I love it when a plan comes together.” John “Hannibal” Smith – A Team
A Business plan is a working document. You will need to refer to it regularly to make you your are on track. You need to go over it at least once a year and update it.
A Business Plan is written with a purpose in mind, you may write it with the intention of getting other to invest in your business, you might be looking for a Bank Loan or you might be writing it as Blueprint for your business.
A Blueprint Business Plan should not be more that 10 or 15 pages long. The areas that need to covered:
1. The Business
Breaking it down further;
- Products & Services
- Area Covered
- Business Sectors
- Possible Business
- Sales and Marketing
- Trading Name
- Out Sourcing
- Source of Finance
- Costs: Fixed & Variable
- Income Statement
- Balance Sheet
- Cash Flow
The last part, Finances is very important. You need to know that your business can make a profit and that you will be able to draw a salary. Do not skip this (or any part) because you do not understand it, ask for help. You can get help online oe you can ask family or friends.
When you prepare a Plan for investment purposes, add an Executive summary that is concise. If this does not capture the attention of the potential investor, they will not read further.
Your Business Plan is your most important business tool – you need to refer to it often to make sure you are on track.