how to write a business plan?

Question

how to write a business plan?

Answer 1

According to the book “The ABC's of Writing Winning Business Plans: How to Prepare a Business Plan That Others Will Want to Read -- and Invest In” http://www.amazon.com/exec/obidos/ASIN/0446694150/powerhomebizguid by Garrett Sutton, below are some tips to make a winning business plan that can get funding:



- Money follows management. Investors look first at the people involved in the company. If you are just starting out and don’t have relevant experience, investors expect to see that you have an experienced team of advisors and employees helping you in the business.



- Make sure you “sell” the one reason your business will become profitable.



- State clearly the strategies you will employ to get the word out about your business. Your business plan must show how you will leverage the Internet, public relations, viral marketing, and other strategies to attract customers.



- Present realistic estimates of the time, energy and costs of building a successful business. Do not underestimate or overestimate revenues. While investors know your numbers are simply guesses, they want to see that your numbers are within the “range of reality.” Be careful of your financial statements: this is one area where you can easily lose credibility if presented poorly.



- Benchmark similar companies to show that you’ve done your homework and researched the market.



- Your Executive Summary is your calling card. If it is not a winner, investors may not even read your entire plan. Emphasize your own as well as your team’s track record in the Executive Summary.



- Before sending your business plan to lenders and investors, send it out first to a few in order to get feedback. You’d want to correct your plan if someone tells you that you’re way off mark, rather than have a potential investor tell it to you and lose the chance to get the funding you need.



Here are some resources that can help you write your business plan:



- SBA Business Plan Basics http://www.sba.gov/starting_business/planning/basic.html

- PowerHomeBiz.com Creating a Business Plan section http://www.powerhomebiz.com/startup/businessplan.htm

- Entrepreneur.com Writing a Business Plan section http://www.entrepreneur.com/bizplan/0,7253,,00.html



You may also want to review some sample business plans to see how it actually looks like:



- Bplans.com http://www.bplans.com/sp/businessplans.cfm

- MOOT Corp Business Plan competition winners

http://www.businessplans.org/businessplans.html

- VFinance - View hundreds of real business plans in pdf format. http://www.vfinance.com/home.asp?bps=1&ToolPage=bps_main.asp

- Business Owners Toolkit Sample business plans and information on how to create a plan. http://www.toolkit.cch.com/tools/buspln_m.asp

- PlanWare Planning software and information. http://www.planware.org/

- Virtual Business Plan Walk through the design of a business plan. http://www.bizplanit.com/vplan.html

-SBA Business Planning Guide http://www.sba.gov/starting_business/planning/basic.html

- Small Business Advancement Center http://www.sbaer.uca.edu/business_plan/businessPlan.pdf

- Sample Business Plan General planning guide created by the Canadian Business Service Center. http://www.cbsc.org/servlet/ContentServer?pagename=CBSC_FE/display&c=GuideFactSheet&cid

- Business Plans Index - A subject guide to sample business plans and profiles for specific business types from Carnegie Library of Pittsburgh. http://216.183.184.20/subject/business/bplansindex.html



Some recommended books are :



- Business Plans Kit for Dummies

- The Complete Book of Business Plans : Simple Steps to Writing a Powerful Business Plan

- Writing Business Plans That Get Results : A Step-By-Step Guide

- Business Plans For Dummies®

- Your First Business Plan : A Simple Question and Answer Format Designed to Help You Write Your Own Plan



Hope that the above resources help

Answer 2

It is not easy to write a good business plan without spending a lot of time and money.



There are millions of different web-sites offering all sorts of solutions from simple MS Excel templates (usually between $50 to $150) to almighty Cognos and Hyperion ($20,000-$100,000).



Having sad that there are some free resources available on the internet that can help with this task.



First of all, if you are looking for some general information regarding the recommended structure and content for your business plan try:



Business Link (UK) http://www.businesslink.gov.uk/bdotg/action/layer?topicId=1073869162



United States Small Business Administration

http://www.sba.gov/starting_business/planning/basic.html



While neither one of these two sites offer any practical tools or templates they contain a lot of useful information that will no doubt help you in constructing a business plan.





Major Banks are usually very good and totally undervalued source of free information regarding business plan as well as some really useful templates and tools. Most of them have some sort of recommended templates or a simple software application offered free to the existing/potential customers.



For example:



Royal Bank of Scotland

http://www.rbs.co.uk/Small_Business/Business_Plan_Software/default.htm



HSBC

http://www.hsbc.co.uk/1/2/business/needs/starting-business/business-plan





All of the above is very useful if you already know all of the parameters for your business plan and just need some assistance in putting this information into a proper format/presentation. But what can you do if you don’t know what the cost of sales, expenditure, depreciation, loan repayment, income before tax, etc. are going to be for your proposed business venture. Well, in this case you will need a software system known as Business Planner to help you in calculating all the parameters for your plan.

There are number of free Business Planning systems on the market that I have used in the past:



Rosetta Business Planner- Free evaluation copy available for download from the web-site

http://www.rosetta-it.com



iPlanner- Free Web based business planning tool

http://www.budget21.com/finsim/biz5/default.asp

Answer 3

if you queried the same question on google or yahoo, you'd have a zillion more answers