Sign in
Download Opera News App





Business Management analysis

Smart things to do when writing your business plan

Many business plan writers don't bear in mind, the dos and don't of a professional business plan. If your business plan must land you your dream loans or grants, you must follow strictly, this tips.

Business plan writing process

1. Share and bounce ideas off others while working on the business plan. Sorruond yourself with mentors and advisors who can help you think through your business model and approach. Find people with experience who will give you good, objectives feedback and not necessarily yell you what you want to hear. Often, family and friends are unable to fulfil this role.

2. Write the plan over a period of time. Do not try to write the plan in one sitting. Write the plan in sections, put the world aside, think about it, talk with others, do research, come back and rewrite. It takes a while to fully develope a business idea.

3. Use good graphics. Learn to use Word, Excel, PowerPoint, and other similar products, and use good formatting techniques or have someone help you with the graphics. If the plan is just for you, graphics are not necessary.

4. Ensure information consistency. All money references in the executive summary, revenue and cost assumptions, staffing levels, and financial statements need to be sync. Likewise ensure the marketing plan is sync with the sales forecast, and use consistent language and terminology.

5. Develope a powerful message. This is the most important item. Your business plan needs to answer the following questions: How are your products and services unique? How do they solve a customer problem or satisfy their need? And why will your business idea be operationally and financially successful? This messaging should be used consistently in all collateral materials.

Those tips above will help you construct a professional business plan that can never be turned down by any angelic investor.

Content created and supplied by: EdgeWriterNG (via Opera News )


Load app to read more comments