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Creating your ideal business plan Requires Critical steps on writing an ideal proposal.
Are you dragging your feet on writing your business plan"Are you worried about how you can write a comprehensive one and present it your investors"It differs according to your company's requirements, for example writing for investors is 15-30 pages with exhaustive breakdowns and full details of facts and figures to support sales theories of the market. But if you are making one for the bank then it has to be at least 10-15 long with a detailed focus on the banks investment and risks associated with it.
Writing a business plan begins with the first basic step,
- Find out who will be reading it. A brilliantly crafted plan, that's efficiently put together, will send a strong message to readers about your professionalism, and it should provide all the' pertinent information about your company. Your initial executive summary must convince readers that your entire business plan is worth looking at and definitely worth investing in.
- Do adequate research about the business you plan to enter. You should have sufficient information about your company's customers, supplies, manufacturers, competitors and industry experts.
- Collate all research material into a large organized file. As you start the research and compilation stage of planning, fill your files with notes, interviews, graphs, and printouts.
- Explain in detail the strengths and weaknesses of your competitors, so that your investors can realistically determine your position compared to them.
- Introduce your management team and relate their previous successes and achievements.
- Estimate your yearly cash flow output and figure out ways to reduce costs and increase profits.
Consider your audience as ignorant and provide a general, as well as, detailed overview of your industry. For example,
- Service business plans ' in this type of business-plan detail the service you plan to provide and the advantage over you competitor, demand, location, staffing, and expenditure.
- Caf' business plans– detail your product specialty like a gourmet brand of imported coffee, advantages over the competitors like ready parking, frozen entrees, a take away counter, and drive-thru's.
- Mortgage business plans-should list the cost of mortgage, base case income statements, loan volumes and revenue assumptions
- School business plans-if you are planning to set up a school, discuss various factors like private vs. public education, quality of private education, possible expansion plans, nearby public schools and their disadvantages
- Bank business plans– should provide an explanation of the banks investment and risks associated with it. In the world of banking and venture capital, business plans play an enormous role in securing start-up backing from banks or investors. The better the business plan, the better the chances of landing the initial investment.
- Mobile business plans-should detail customer requirements, current trends in handsets, pricing, and location.
Writing a business plan does seem easy. But you have to remember that your company needs the cash or capital which banks and investors will provide only if the plan is highly detailed and professionally written. It's better to use MasterPapers specialized help from an accountant or a professional consultant who will provide a complete 15-20 page business plan according to your requirements at a reasonable rate rather than messing up your only chance for a good impression.