If you are interested to know how to write a business plan and what concepts to include, you can check that out on http://www.italkcash.com.
It is a tough task to sit down and write a business plan that is able to impress the government bodies or banks. Do you need a start up loan? Do you need a specific business account? The bank always asks you for a business plan. Or maybe you need to apply for government funding and agencies are asking you for thousands to do it ‘right’ for you? Learn for yourself with some very simple steps how to draft your own business plan, download templates and ‘WOW’ those officials without spending a dime on it.
First of all you need to have the right format for a business plan, however simple Microsoft Office Word templates are good enough. The idea is just to show that you have spent time and made an effort to create the business plan.
Table of Contents : always needed. In order to simplify its creation just use words’ templates for headings and titles, then the table of contents automatically inserts them in the beginning of the document. If you do not use this method you need to create it manually.
Executive summary: this section contains the main ideas of your business 9not longer than a page)
Business Objectives: this section must explain what do you aim to achieve through your business? Profit? Recognition?
Legal Entity of the business: here you need to insert all of the company information (registration numbers, VAT, Address, websites, phone numbers, lawyers)
Core business activities: here you need to outline your core activities, what will the business be doing mainly? It is advisable to concentrate on one thing rather than diluting into too many things (as further down you will have a section of supporting business activities where you can insert all the rest). The more concise you are in this section the better. All good ideas are simple to explain, no need for 20 pages explanations of what the business does.
Unique selling points: in this section explain how your business stands out compared to competitors?
Business development strategy: in this section you need to outline the future goals of your business. It will be good if you split this section into short vs. long term goals. Do not emphasize entirely on profit, banks want to see you are giving something back in the long turn, so just throw in some ideas about CSR, environment and some help for graduates (this concept is always a winner)
SWOT: Strengths, Weaknesses, Opportunities, Threats,,, do your analysis here. Show the bank that you know what you are talking about, show them that you are aware of the realistic situation of the market you are/will be competing in. Show them that you are aware that each coin has two sides and you are not flying in the clouds.
Market objectives/ Market analysis: these can be two separate or one section. Evaluate the market you are competing in, how are you going to get your desired market share? Analyze your competitors’
Promotional activities: if it is a new business outline what is your long term marketing strategy, what channels are you going to use, how etc…
Directors and employees: include a brief outline of all the key persons involved in the decision making process within the company. It is good to know that the company is in stable hands and is ruled by people who know what they are doing.
Policies: include any policies such as gender equality, harassment policies, discrimination policies, environmental policies etc…
Financial section: in the financial section you need your balance sheet, and a cash budget. If you are applying for a loan you need to indicate for how much and why, is it a loan for operations or for investment? This section needs to be as detailed as possible.
A business plan can take between 30 – 150 pages depending on the size and scope of the company. If you are a start up business or a sole trader it is obvious that you do not need a 150 pages business plan to explain what do you want to do. However if you are a big corporation or an SME the length of the business. Check out http://www.italkcash.com for more useful tips and ideas about your business.
