How to Prepare a Business Plan

If you are about to start a business (or get as close to a financial institution for funding to expand your existing business), then you need a business plan. Your program allows you to set your goals, assess your strengths and addressing your weaknesses.

Would not have embarked on a journey without knowing where you were going, yet many people create a business with the real concept of what they want to achieve or how they will achieve it.

The following diagram shows what is necessary to include in your business plan, use it to gather the appropriate information in order to get your business off to the best start.

SUMMARY

Shares (about your vision for the company)

What already exists

The niche - as you see it and helps your business will bring

Type of business proposed - benefits that will result in the niche market

General financial goals - sales and profits expected

Funds required for the initiation of

COMPANY PROFILE

Company Name

Principals

Description of business:

Or what will you do

Or its target market

Vision - ultimate goals

Mission - the value, the service offers

The competitive advantage of having - such as flexibility, able to tap a large base of talent, the connections in the industry, etc.

The SWOT analysis [strengths Opportunities Threats] (Be honest with them, but just to make threats, weaknesses that you know you can meet and overcome with success)

Objectives:

o At the end of the first 12 months of operation

Or after 12 months

PRODUCT AND MARKET ANALYSIS

Product / Service - description of what you're offering

Features

Benefits

Price structure

Industry description and outlook

Market demand - the market share you think you can capture, share competition you think you can take, etc.

OPERATIONAL PLAN

Resource requirements:

Or what you need to operate

Or that this will cost

List items and specify prices (tables, etc.)

MANAGEMENT PLAN

Manning levels:

details or personnel necessary to

necessary training or

The experience of managers and their skills

Marketing Plan

Divide this in:
Interior - how can you win repeat customers and referrals

Exterior - new customers as you

Impact - how did you target specific groups

Detail how you go about targeting and the sale of each such group

Levels of service

Coupons

Hand-out

Music

Furniture

Fun

Special add-ons

Etc.

Approaches to direct and do (specify targets eg music schools etc)

Promotion (eg freebies, discounts, buy one get one every time something 6 free, benefit performances, openings etc)

Actual product / service you are selling

FINANCIAL PLAN

Details:

or sales

or cost projections

Designed or profits

Provide specific details as to fall into gross profit, overheads, net income etc.

ACTION PLAN

Use the table to show:

Activities or tasks

or when these will be done

or make any

Give a chronological sequence of action to show how you plan to launch and develop the business.

Provide plenty of graphs (use different styles), tables, figures and facts.

Get information from the Bureau of Statistics on demography, socio-economic groups, age, etc. etc.

Have an appendix and include all the extra information (for example: newspaper clippings about the band complaining that they can not be cut CDs, etc..)

Following this scheme, you will have a realistic goal for your business ... and your bank manager!