January 29, 2012
Do not allow the task of creating a business plan for your venture drag you down. This task can be completed relatively fast and with a high level of quality with the proper frame of mind. Just follow the steps below.
1. Create an Outline
Start by writing down the titles of the 10 divisions of a proper business plan in outline form: Executive Summary, Company Analysis, Industry Analysis, Customer Analysis, Competitive Analysis, Marketing Plan, Operations Plan, Management Team, Financial Plan, and Appendix.
Outline the first division of the plan, the Executive Summary, for this is the first thing that potential investors will look at. In that section, demonstrate marketplace need (“Where is the need for your product/service?”); clarify the exclusive products/services offered by your company; show them that your operating industry has potential for growth (“market staying power”); emphasize sturdy value proposals; draw attention to the profound market knowledge of your staff of managing professionals; and communicate sensible economic projections.
Then, in each division, write subdivisions highlighting the fundamentals that you plan to incorporate. If needed, the subdivisions can be written in question form..
Every item should be filled out as completely as possible. Nothing should be left blank or hanging. Answer all potential questions.
2. Hold a Brainstorming Meeting with Your Managing Staff
In the event that you are the sole member of the management staff, this step is still required. Whether by yourself or in conjunction with a team, utilize the outline written in Step 1 to think through every probable item of pertinent data to be included in the business plan.
In that brainstorming meeting, write down additional material; come up with more than you need to. No information is incorrect information. The more info you have, the better off you will be. Get rid of repetitive or unimportant data afterward. Maintain the flow of ideas; record everything. Go along with the outline.
3. Buy Niche Market Research Data
This is a vitally important move if your business plan is to survive the razor-sharp inspection of a potential investor. It is possible to perform your own research, however, hiring a professional service is probably in your best interest. They know how to delve deeply, call the right people, and amass the absolute best and pertinent data as it applies to your niche market. So get your moneyâ€™s worth, spend your money on an expert research service to reference, and highlight in your presentation.
4. Make a Schedule and Stick to It
From here, you are able to finish your business plan in less than a week. Set aside eight hours every day and plan to complete two divisions of the plan each day; one every four hours, with short breaks in between. The Industry Analysis and Customer Analysis divisions can be finished in a single four-hour period. The Appendix may be finished along the way.
The result is a working business plan in mere days, not weeks.
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