Need investors? Want a loan? Do you want to apply for a grant? Or is it just a matter of time before you evaluate your business? Are you accountable for your business? Looking for new markets? Looking for the next level in your business? Are these all the times when you need a business plan? What are the nuts and bolts of a business plan?
All business plans have the same or other categories with the same content.
However, when they get to the table of investors or lenders some stay where they are and some go to the pile “I’ll read it later” or even worse the trash can be!
Let’s take a look at what’s really in the mind of a business plan. A business plan is a process that defines and integrates the tasks required for a business idea to become a company and provides expectations that prove it will be profitable. In other words, it is a payment to find an investor and tell them that your idea is constructive and will be of great benefit. Note these two important words: innovation and profitability. No investor will be interested in a company that will not have enough profit to return their money and a very healthy profit. Now that would be an interesting name – to compose. For a company to be successful, it must have something different from all the other companies operating in the same market. After all if your company is going to be like all the others, it will definitely not pass and let you take their customers. No, your company needs to have a variation that will attract these customers away from what you are buying all the time. Somehow old, be it products, business model or service.
Let’s add another word where your need for reflection within your business – works. Your investor or lender wants to see if your company will work. If you do a Google search on 1995 Internet Bubble “you will see that thousands of investors have invested and borrowed new internet companies that promised to make millions of dollars at a simple profit. The memories are long and now investors are looking to see if new companies will work for the foreseeable future in order to continue earning income and have a better chance of repaying a loan or investment.
Your business plan should be a communication tool that sells the first idea that works to attract and convince people that you have the ability to run a business by setting up and managing a company.
Initially we highlighted some of the reasons for business planning. In addition to earning money, your business plan is also an excellent tool for you to evaluate the performance of your business.
So that’s NUTS for a business plan, let’s look at BOLTS coming together:
Experts: The interior should be well-organized with indexes, page numbers, headings and sections with letters that describe complex objects. Too many paintings eliminate the boredom of too many words. The exterior should be professionally lined and have a colorful and attractive cover page. It is clear that full company details and contact details should be on the front cover.
To try. It is written in a way that encourages the student to explore business opportunities. Pay attention to the style of writing, short but not too short and certainly not too short words when fatigue identifies you. Keep up to date, zwoding external details that do not support your business plan or your business model. Avoid jargon and if you have to use initials make sure the first example is completely spelled with initials in brackets afterwards.
Powerful. You have to be creative, but with some self-control. It is better if you tell a story but not the one found in the library design section. If the business you are promoting does not invite a large and prosperous, store it. There can be arguments and distractions for the student. Creativity is important as long as you highlight something about the business and there is to keep the attention of the reader. Creativity should only be used to paint a picture of how the business will operate in the future.
That’s right. Clarity is important, but so is accuracy and truth about the current state of your company and its future goals. A small license is granted by the student but they expect you to tell the truth about your statistics, customer numbers and production status of your property.
It has been ordered. Guide your reader through your business plan and place supporting documents within the appendix of the report. Although key details should be in the main sections of the report, in the appendix you may include secondary data, market learning results, expert resumes and any correspondence from the recommendations or positive report.
The ultimate BOLT that will keep your business plan together is CARE. Your business plan is not just something you have to rush to get your support. A description of what your business looks like now and what you want it to look like in the future. Most business plans start with about 20 pages long for a small business set up in the world up to 50 pages for a business that needs a lot of support. No matter what your business plan is, and please get used to writing complex ideas in a nutshell, it should be written with care – after all a good business plan is a successful company!