Budgets give business owners a road map to guide them from current operations toward the ultimate growth and expansion they envision for the business, and allow achievement of these goals through showing exactly how much money a business should keep on hand at any given time and how much is available for reinvestment into company growth. Break costs into groups. Consider operating expenses, such as manufacturing contracts, printing, packaging, shipping and postage.
Writing a business plan will be much easier if you use a step-by-step plan that starts with organizing your contents, which will help you gather and present your information in an effective manner.
Organization is key to creating a business plan from which you can operate a company, and helps potential investors or lenders get the compelling message you want to send.
Include the following sections: Create a cover page with the title of your plan, your name, contact information and date. Follow this with your contents page, including the following: Briefly describe your business, competition, need in the marketplace for what you have, your unique selling differential, projected profit, capital needs and timeline for investment and profit generation.
Write each section of your document, using as much objective data as possible. Each time you make a claim, add a fact, figure or other data that supports your assumption, if possible.
Include footnotes that direct the reader to the bottom of the page or end of the document for more information if you wish to avoid presenting technical information that can make the document too detailed for someone who wants a good feel for your plan after a first read.
Write a conclusion that re-states your executive summary.
Refer to one or two pieces of support information that comes from your main sections to validate your conclusion, but which you did not include in your executive summary. Re-state the amount of start-up capital you need, your projected revenues and profits and the timeline for paying back the original investment and making a profit.
Review your contents page and executive summary to see if you need to modify them based on the final result of your writing. Supply the reader with your detailed product or service specifications, budget, marketing information and other technical data in an appendix. Include charts, graphs, photos or other visuals that support your content.
Tip Choose your binding or presentation folder before you start writing to help you set your document margins correctly. He has worked in the corporate and nonprofit arenas as a C-Suite executive, serving on several nonprofit boards. He is an internationally traveled sport science writer and lecturer.
Edmunds has a bachelor's degree in journalism.A business plan can make or break a small business.
A strong, detailed plan provides a clear road map for the future, forces you to think through the validity of a business idea, and can give you. Writing a business plan will be much easier if you use a step-by-step plan that starts with organizing your contents, which will help you gather and present your information in an effective manner.
Nov 15, · David J. Lynch David J. Lynch is a staff writer on the financial desk who joined The Washington Post in November after working for the Financial Times, Bloomberg News and . Now that you understand why you need a business plan and you've spent some time doing your homework gathering the information you need to create one, it's time to roll up your sleeves and get.
Anyone can have a great idea. But turning an idea into a viable business is a different ballgame. You may think you’re ready to launch a startup r-bridal.com’s great .
Think you have a great idea for a business? That best way to find out whether you do or not is to do your research and write a business plan to see if your idea is feasible.