Many public and private sector funding sources require preparation of a Business Plan as a part of their loan or grant application requirements – and I gather doing one is a good idea even if you aren’t required to.
However, there are no “help the intelligent newbie write one” sources I know of on what a well-thought-out and well-written Business Plan should entail. So I turn to the wisdom of Dopers to discuss what-all one ought to present in one.
It’s a question I’ve had several times over the past eight or nine years – what provokes me to post this today is not my own or a IRL need, but rather the related question in this thread. I’m starting this as a separate thread in order that the question “business plan” can be addressed separately from the funding-sources-for-business-startup issue that was the topic for that thread.
Comments, suggestions, analyses? The collective business acumen of this board always amazes me – can we put it to work towards help for the more commercially-challenged among us?
I had to write a business plan as an assignment for college a few years back. It was for a wine store, and it was 40+ pages or so (with all the financial reports). I found that Bplans.com helped a lot- and I was a newbie. They have smaple plans, as well as software that will help you write a plan. I did not use the software, but the info on that site helped tremendously. Good luck!
Have you tried your local Small Business Administration? They provide cheap courses in writing business plans, and also have some good online resources: link.
A business plan is pretty important if you’re starting a business. It can help you sort out exactly how you plan to implement ideas regarding your business, and can also help you figure out how realistic starting your business is, and what sort of funding you’ll need. It’s also a good idea to revise it each year or so, especially if you experience a lot of growth - you’ll need to redefine your business goals and budget.
You also might want to throw in such consulting clasics as a S.W.O.T. analysis (Strengths/Weaknesses/Opportunities/Threats) or a Porter’s 5 Forces analysis (http://www.quickmba.com/strategy/porter.shtml)
Here’s a subject guide to creating business plans, including books and web sites. You might check your local library and see if they have the Business Plans Handbook - I recommend it to students who have to create one for class. There are examples in there for a variety of companies, but you can read through and see which elements you like.
Here was one bit of esoteric advice that I was given that I have seen no where else. Dunno how useful it is, but it was free.
Use a larger than usual font. According to the man who gave me this advice (he sat on the board of an angel-invester grouop) most invester-types are older genltemen who may be losing their eyesight. If you make it easier for them to read, they will instinctively feel it is well written.
I’m not saying that this is the only criteria, but hey, it kinda made sense when he told me.
