Business Plan for Start ups

The business plan consists of a narrative and several financial worksheets. The narrative

template is the body of the business plan. It contains more than 150 questions divided

into several sections. Work through the sections in any order that you like, except for

the Executive Summary, which should be done last. Skip any questions that do not apply

to your type of business. When you are finished writing your first draft, you’ll have a

collection of small essays on the various topics of the business plan. Then you’ll want to

edit them into a smooth-flowing narrative.

The real value of creating a business plan is not in having the finished product in hand;

rather, the value lies in the process of researching and thinking about your business in a

systematic way. The act of planning helps you to think things through thoroughly,

study and research if you are not sure of the facts, and look at your ideas critically. It

takes time now, but avoids costly, perhaps disastrous, mistakes later.

This business plan is a generic model suitable for all types of businesses. However, you

should modify it to suit your particular circumstances. Before you begin, review the

section titled Refining the Plan, found at the end. It suggests emphasizing certain areas

depending upon your type of business (manufacturing, retail, service, etc.). It also has

tips for fine-tuning your plan to make an effective presentation to investors or bankers.

If this is why you’re creating your plan, pay particular attention to your writing style.

You will be judged by the quality and appearance of your work as well as by your

ideas.

It typically takes several weeks to complete a good plan. Most of that time is spent in

research and re-thinking your ideas and assumptions. But then, that’s the value of the

process. So make time to do the job properly. Those who do never regret the effort. And

finally, be sure to keep detailed notes on your sources of information and on the

assumptions underlying your financial data.

If you need one on one assistance with your business plan, you should go to one of the entrepreneurship centres in your comminunity. You should also attend a lot of business plan competitions to test out how your business plan would be compared to others. The more you pitch about your business, the more you will learn how the markets would respond and obtain feedback to improve from professionals.