WHATS INCLUDED IN THIS PACKAGE ?
The short answer to this is, yes. Instead of seeing a business plan as a chore, it’s an opportunity to lay out the way your business will grow over the years and gives insight into how your organisation is performing in the present, and how it can develop in the future. It’s also essential to show potential investors and partners the plans you have for growing and puts forward a much stronger case than words alone
There is no right or wrong answer to this question – a business plan can be anywhere from 10 to 100 pages long (although we recommend keeping it shorter so your audience doesn’t lose interest). It mostly depends on the purpose of the plan, and who the audience is. If it is an internal business plan, you can exclude certain areas and only focus on the essentials such as implementation. If you are presenting to new investors, the plan is likely to be longer as you will be outlining the business as a whole together with your present situation and plans for the future.
The best way to start a business plan is to open with an executive summary about the most important points of your business plan followed by a description of your company. From here, you can identify your target market and customer profile together with how you are currently reaching them. Follow this with an outline of your operations and how your business works on a day to day basis and conclude with a look at the current financial situation. These are just the broad elements of a business plan; for more details about what goes into a business plan, read our ‘what is a business plan’ (link to article) article that goes into more depth.
It’s really up to you, and different types of businesses will have different needs, but meeting with an attorney who is well-versed in legal issues affecting small businesses can be quite valuable. Even if you don’t have specific questions, an attorney can review your business plan to make sure it adequately reflects relevant legal realities, such as the costs associated with certain regulations.
There is no exact science to writing a business plan, though there are guidelines which most successful businesses.First, is to include a statement outlining the objectives and goals of the business. Second is to include financial information such as start-up costs, revenue projections, profit and loss projections, breakeven points, and cash flow analysis. You don’t have to be an accountant to use these figures but you should at least be familiar with the terms and have another person familiar with accounting double check your numbers. Catching financial issues early is critical.
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