Writing a Business Plan: A Template (Part 1)

Having a ready business plan is a vital part of starting a business. If you are really serious about your business, then you should have a ready business plan. But a lot of people are wary of writing their business plans – thinking that it is just too difficult to do. But with armed with proper information, creating a business plan is a breeze. The essential information that is needed in a business plan remains the same regardless of the business. The template below can serve as an informative guide to your first stab business plan writing.

A short tip: Always be concise when writing a business plan. Don’t use too much jargon, and don’t make overzealous projections – keep it as realistic as possible.

Cover page

This page is where you put your business name, contact name, contact details and address. It would be a good idea to put a date on the plan.

Contents page

This is the Table of Contents. List the contents of the business plan here:

Objectives Executive Summary The business idea and the product and/or service The market and the competition Marketing and Sales Management and Workforce Business Operations Financial Forecasts Appendix

Objectives

This section gives you the opportunity to explain the reasons you have decided to create the business plan as well as a brief explanation as to what you intend to do.

The business plan you make can also be created within the boundaries of a specific purpose – not just to present your business. It could be to look for new investors, launch a new product line, a new marketing campaign, or creation of a new business unit. Cite the purpose in this section.

Executive Summary

This is one of the most important sections of the business plan. In fact, this section is the most read part of your plan. This section is a 1- to 2-page summary of each section’s key points.

A good tip about writing the Executive Summary is to make it the last section you write, that way you already have the whole plan as a basis for your summary. Also remember to keep the section as concise as possible without eliminating key facts. You can use graphs or charts if you think it will help you illustrate your points better.

The business idea and the product and/or service

In this section you get the chance to give a background on your business. Included here would be detailing the legal status and the ownership/company structure of the business. You can also put your related business experience here for added reference.

This section is also where you describe the product and/or service you are planning to sell/offer. You can describe what makes your product/service different from other similar products/services in the market as well as its inherent benefits. Try to write this part of the section without resorting to any technical jargon. Always remember that the main audience for your business plan could be laymen, or people who are unfamiliar with the market you are trying to penetrate with your business.

(To be continued in Part II)

Business Issues
Business Plan
Countries
Finance
Marketing
Start up
Strategies
Taxation
Technology


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