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Starting a business? Then you'll need a plan - a road map,
taking you on the straightest, fastest route to where you want to go.
Your business plan will include 6 sections and will help you think through your business idea,
making sure you've covered all the angles and eventualities, before you set off.
The first section is the executive summary.
Presenting an overview of your business, this section is vital as many investors make judgements about your business based on it alone!
A great tip is to leave this section until last to write.
Once you have written the others, you'll find it easier to do,
as it will be a summary of the key points you make in the other sections.
So start with your business details.
provide a short description of who you are, what you plan to sell, why and to whom.
Include the location of your business, identify key employees
and any other qualities that make your business stand out.
Now, enter your marketing and sales strategy.
show that you've done your homework, that you understand your target market.
Outline why you think people will buy what you want to sell
and detail how you plan to sell to them.
Then add in your management team and personnel.
people reading your plan need to believe and have trust in the management of your business,
so outline your credentials and the people you plan to recruit.
Then detail your setup.
explaining what facilities the business will have,
from your premises to your management information systems and IT.
And explain how it will deliver the product or service to the customer.
Lastly, list your financial plan and projections.
this part translates everything you've said in the previous sections into numbers.
It will tell you whether the business will be worthwhile
or whether you're wasting your time and/or money.
Your business plan will change as your business grows.
It'll help keep you focused, so you'll know where you are
and where you're supposed to be, so that you can correct your course as needed.
Here are our 5 top tips:
Keep it brief: If it takes too long to write, it'll take too long to read!
Get rid of the : Cut the waffle and just get to the point!
Be realistic: Be honest and note all the challenges facing your business.
Use visuals: Graphs, charts, and images can help bring your idea to life, and;
Be creative: So that your business stands out and grabs attention.
And for a bit of extra help, download a business plan template from the Business Wales website.
So there you have it, plan your route to make sure you reach your destination!
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How to write a Business Plan

88392 Folder Collection
Jason Tsao published on March 15, 2016    Yvonne ,Lin translated    Sally Hsu reviewed
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