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How to Write a Business Plan
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Keep the information in graphs and spreadsheets as
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Hi, I'm Matt Gavenda with About.com and today I'll tell you how to write a business plan.A business plan is an ever-changing document that outlines where a business has been, where it is now and where it's going. Business plans are used to solidify the details of a company for private review and to show investors. This can be broken down into 4 main sections. Cover pages, business details, financial details and supporting documentation.The first few pages of your business plan should include a cover page, an executive summary and a table of contents. A business plan's executive summary is very important. This is often a document that will determine whether potential investors keep reading or not. So it is vital to highlight the brightest parts of their strategy in this section. This section summarizes the nature of your company. An outline of your goals and how you plan to get to your goals. It's a good idea to write this section last so you can review all the completed documents to gather information.If this is a new business, focus on the strengths and experience of the owner. And why this business is well planned and needed. Convince the reader that this business is a good idea. If you're an established business, include a mission statement. Information about the business, growth highlights, your products and goals for your company.The next section will be specific details about your business. This section is an overview of the nature of your business including a description of your business, operating procedures, organizational structure, marketing and sales management. Review your current service or product line. How does it benefit the customer? The financial data section of your plan details the inner workings of your business. Content includes past, present and projected figures. Keep the information in your graphs and spreadsheets as simple as possible. They should be easy to understand for someone that does not have previous knowledge of your particular business market.For the supporting documentation section. Include copies of all legal documents, licenses and any other forms that pertain to your company. An effective business plan should be straightforward. Just describe your goals, how are you on your way to getting there and back it up with documentation. For detailed information on writing a business plan, visit the federal business administration online.Thanks for watching for more information visit us online at About.com.
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