Writing a business plan helps conceptualize the
business
Have you thought about working for yourself or starting a new venture? The
thing to remember is that if other people have done it, so can you. Writing a
business plan is a good way for you to conceptualize what you want to do with
your business. Even if you don’t need a business plan to borrow money, your
business plan will be an important artifact of your business venture.
Education is key for business plan writing
If you don’t know the first thing about how to write a business plan,
consider that you don’t have to have a formal education
to write one. Here are some ways to learn more:
• Get a book on business plans
• Take a workshop, clinic, or class on starting a business
• Go back to school and take some business courses
• Take a business distance learning
course
• Ask a friend who has successfully run businesses for help.
• Go online to research business plans
• Pay somebody to help write the business plan for you
The important thing to remember about a business plan is that it is just as
important an artifact of your research as it is an end product. What do I mean
by that? Your business plan is one of the best ways for you to put into concrete
terms what you want to do with your business. If you can’t write it down, then
maybe you need to spend some more time thinking parts of it through.
Business Plans are often required by banks when you go around asking for start
up money. It shows that you’ve thought out what you want to do with the money
and also helps the bank gauge their risk in lending you the money (based on what
you think your return on investment will be).
Your plan will usually have the following sections:
• executive summary
• background
• marketing
• financial
• manufacturing
• human resources
Don’t start out cold. Look at some examples until you get a good feel for what
goes in each section.
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