A good business plan is something you need if you have started a new business or you want to grow your business. Business plans perform different functions, for example a good plan will give you the opportunity to receive funding form an investor. To be able to attract the investors you need to create a clear and comprehensive business plan that will convince the investors that the business is going to succeed without doubt.
Individuals who start a new business usually hire specialists to write good business plans for them. However, if you cannot afford hiring such a specialist, you may write your own plan by yourself. Business plans have their main sections that should be completed carefully. Following is a brief description of the main sections on a business plan.
Most investors prefer a two-page summary of your business idea over a detailed list of what you are planning to complete. Thus, it is crucial to have one or two pages of a summary that will briefly introduce what you are going to accomplish with your business. This piece of writing must be concrete, convincing, clear and understandable. Here you should avoid using business terms and jargon.
This is the section where you must introduce your statement of purpose and business history. You should answer the question why it is important for the investor to provide funds for the sake of your business’s growth.
In this section you must speak about who your customers are, what are their expectations form the service or the product you are selling. Also, you should mention here what kind of PR strategies you will be using to advertise your brand/service/product. It is important to compare your business with similar other businesses and see what are your privileges or drawbacks.
Here you should provide all the financial calculations you have made. This is the section where you inform the investor how much money they are going to provide you and for what particular purposes.
Plan of Actions
This is the detailed list of actions that you will be taking to implement your business idea. You must describe how you are going to spend the funds provided by the investor during each step you will be taking.
Thus, writing a business plan may seem a huge problem; however, if you follow the basic structure given above, you may have quite a nice plan to show to your investor.