This easy-to-use ONLINE Business Planning guide will take you through the steps needed to create a business plan. It can help you prepare a business plan for your company, no matter what size. If you have an established business, business plan charts will be able to test possible scenarios or prepare comprehensive business plans to support your banking needs.
Business Planner can help you and your Account Manager, Small Business consider all important variables. Please forward this error screen to host. Crown Copyright All content is available under the Open Government Licence, except where otherwise stated. Enter the characters you see below Sorry, we just need to make sure you’re not a robot. There are no Videos in your queue. There are no Articles in your queue. There are no Podcasts in your queue.
Opinions expressed by Entrepreneur contributors are their own. For a startup business, creating a business plan is like creating a game plan in sports. You need to scout out all the information to create a winning strategy for the game. Even though creating a business plan takes time, thought and effort, and may seem like an impediment to getting on with opening or growing your new business, it is imperative in today’s competitive business climate for you to have all relative information available and evaluated before opening your doors. With a thoughtfully prepared business plan you will enter the business world prepared, ready to run your business and ready to compete. Although researching and writing your business plan may seem like a monumental task, with preparation it can be quite painless. As you go through the process, you will develop your knowledge and understanding of your business, improve your chances of success, and diminish your risks of failure as a startup owner.
Prior to writing your business plan, there are several issues you must resolve. Are you prepared to operate a business? Have you investigated other types of businesses? Have you explored the broad economic business sectors: manufacturing, wholesale, retail, service ?
Have you considered other industries within the sector of your choice? Have you thought about what types of businesses are strongest now and for the future? To check out the possibilities and benefits of becoming a franchise outlet owner or franchisor, read Erwin Keup’s Franchise Bible and my books, No Money Down: Financing for Franchising and The Franchise Redbook. Do you have a location in mind? Are you familiar with the advantages and disadvantages of types of sites, such as freestanding buildings, storefronts, regional malls, and many others? Have you located the necessary business consultants–accountant, attorney, banker, and others?
One resource is The Small Business Insider’s Guide to Bankers by Suzanne Caplan and Thomas M. Do you know your financial position, your credit rating, your investment costs? The author’s No Money Down: Financing for Franchising covers these topics in detail for any business, not only franchising. Don’t be concerned if you aren’t familiar with all of these concepts. Writing a business plan for your new business is a straightforward process that you can move through step by step to completion. The whole process can be accomplished in two to four weeks, depending on your business. A Professional Presentation In surveying many successful business plans, you will find that no one format fits them all.
Depending upon the nature of the business, certain topics take precedence over others. Often the owners write their business plans, since they know the most about their business operation and management and they have learned what elements to include to make the best impression. A complete business plan for a startup company is best organized according to the logical development of the business and is comprised of at least 12 basic components. Market and Competition: To evaluate what you are getting into. While some business plan proponents separate market and competition, it takes an examination of both, together, to come to one very important final conclusion: your market share. Consequently, it is best to examine and present them together. Management and Organization: To present the management and personnel who will run the show.