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How to Prepare a Business Plan
in Easy Steps
Success in business comes as a result of planning.
You have to have a detailed, written plan that shows you what the ultimate goal
is, the reason for the goal, and each milestone that must be passed in order to
reach your goal.
 A business plan is a written definition
of, and an operational plan for achieving your goal. You need a complete
business tool in order to define your basic product, income objectives and
specific operating procedures. YOU HAVE TO HAVE A BUSINESS PLAN to attract
investors, obtaining financing and hold onto the confidence of your creditors,
particularly in times of cash flow shortages - in this instance, the amount of
money you have on hand compared with the expenses that must be met ...
Aside from an overall directional policy for the
production, sales efforts and profit goals of your product - your basic travel
guide to business success - the most important purpose your business plan will
serve, will be the basis or foundation of any financial proposals you submit.
Many entrepreneurs are under the mistaken impression that a business plan is
the same as a financial proposal, or that a financial proposal constitutes a
business plan. This is just a misunderstanding of the uses of these two
separate and different success aids.
The business plan is a long range "map" to guide
your business to the goal you've set for it. This plan details the what, why,
when, where and how of your business - the success planning og your
company.
Your financial proposal is a request for money
based upon your business plan - your business history and objectives.
Understand the differences. They are closely
related, but they are not interchangeable.
Writing and putting together a "winning" business
plan takes study, research and time, so don't try to do it all in just one or
two days.
The easiest way is to start with a loose leaf
notebook, plenty of paper, pencils, and erasers. Once you get your mind "in
gear" and begin thinking about your business plan, hundreds of thoughts and
ideas will begin racing through your mind.
Later, when you're actually working on your
business plan, you can take out this "idea" notepad, and evaluate your ideas,
rework them, refine them, and integrate them into the overall "big picture" of
your business plan.
The best business plans for even the smallest
businesses run 25 to 30 pages or more, so you'll need to "title" each page and
arrange the different aspects of your business plan into "chapters". The format
should pretty much run as follows:
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