Posted on 04-12-2009 at 06:00
Business Plan Writing Services
A business plan is essential when you're starting up or running an existing business.
Unfortunately, too many people think of business plans just for starting a business or applying for funding or business loans. However they are also vital for the day to day running of a business. Businesses need plans to optimize their performance and development according to the priorities they set themselves.
A normal business plan includes a standard set of elements/functions, as shown below. Format, outline and content vary from business to business, but generally a plan will include elements like introduction and description of your business, products and services, the markets you are targeting, sales forecasts, financial analysis, marketing plan and cash flow.
Every plan will depend on your specific situation.
I use software to write all my clients plans but you don’t have to. The advantage that bespoke software has is that it integrates everything for you into an attractive looking document with all the graphs charts and cash flow automatically.
You can do it yourself though all you need to do is to make sure you include a few basic elements:
• Executive Summary: Write this last. It’s just a page or two of highlights.
• Company Description: Legal establishment, history, start-up plans,
• Product or Service: Describe what you’re selling. Focus on customer benefits.
• Market Analysis: You need to know your market, customer needs, where they are, how to reach them, etc.
• Strategy and Implementation
• Financial Plan: Include profit and loss, cash flow, balance sheet, break-even analysis, assumptions, business ratios, etc.
If you are not sure what to put in follow include the elements above and you will not go far wrong. Don’t forget the executive summary comes last.
Make sure you review your business plan regularly and if you are not achieving the targets you set yourself GOYA and do something about it. You only have yourself to blame if you do not hit your targets. You thought they were achievable when you set them so don’t blame the economy or whatever else for not hitting them. It’s your business, your responsibility and as long as your business has a pulse you can do something about it.
It’s also great when you review a business plan and you are doing better than expected. The best thing to do then is to re-write it and set yourself some more challenging targets!
Remember just having a business plan will not make it happen; only you can do that. Use the plan as a framework for your activities and make sure you do what you say you are going to do and more!!
