Figure out whether your business idea is likely to work, how to identify your strategic advantage, and what you can do to gain an edge on the competition.
Get a professional business plan template at no cost. You can subscribe to Kim's business growth tips by email, or connect on LinkedInTwitter and Facebook. It's definitely not the most exciting part of starting a business.
In fact, if you're like a lot of entrepreneurs, you're probably going to find yourself pulling a few all-nighters to get one done before heading into your first pitch for funding.
Because that's the thing--your business plan is a pretty important. Any funder worth his or her salt wants to see it right off the bat.
Moreover though, a solid business plan is a living document that will continue to guide your efforts as your business grows. A lot of those mistakes most of them, in fact are the result of poor planning. Bad location, a marginal niche, having no specific user in mind, raising too much or too little money--all of these issues can be prevented or at least mitigated with good planning.
Creating your business plan is more than just getting your ideas down on paper for potential funders to see. It's an exploratory process in which you can evaluate your options, test your assumptions about your idea, and even discover new opportunities.
It might even lead you to kill off aspects of your business before investing too much time or money in them. That doesn't mean you have to bust out Word and start the plan from scratch. A template is great--you probably aren't doing anything that hasn't been done before, so it provides a proven structure for your plan.
Pretty much everything on it can be customized.
Check out these comprehensive business plan templates you can download for free to get you started: Score's Business Plan Template for Startups Score is an American nonprofit dedicated to helping entrepreneurs get their companies off the ground.
Its template, available as a PDF or Word download, asks a whopping questions and is generic enough to customize for most types of businesses.
The Refining the Plan resource that comes with it is helpful, especially if this is your first crack at writing a business plan. You can go back in and edit it as needed, so don't worry about having everything ready the first time you sit down to tackle it.
Even broken into sections, it's a long document and a bit of a slog to get through, but it produces a professional-looking and useful business plan. This is particularly helpful if your idea isn't fully fleshed out and you know you have homework to do--it prompts you for information.
Some funders are going to want to see a lot of detail, but you can provide that in appendices. A business plan should take time and a lot of homework, but if you've already done that, LawDepot's template is a decent choice. It walks you through getting started, marketing, product, competitive analysis, SWOT, and more, with a window below the input fields to show you the plan as you work away at it.
You can download it free with a trial subscription, but you'll have to remember to cancel it within the week if you don't plan to continue using it. It contains 10 broad sections, including market analysis, management and organization, etc.
A second download on the same page is an Excel file to help with your financial projections. Office Online Templates Galore Of course, Microsoft offers a ton of business plan templates for Office users you can get birthday invitations while you're at it.
If you'd rather do a business plan presentation than a Word doc, you can download one of Microsoft Office's half a dozen or so PowerPoint templates for just that purpose.
You'll want to customize it with your company branding you have your branding down, right? Business Plan Template and Guide Global financial services firm vFinance offers a basic, page business plan template to download from its website--one the company says has been downloaded more than a quarter of a million times.
No, it won't be completely unique, but vFinance knows what it's doing and the template is pretty comprehensive. VFinance is the creator of the massive Venture Capital Directory and has tailored the plan to appeal to funders.
If that's your goal, definitely check this one out. Each one also contains a marketing plan and executive summary template.GUIDE: BUSINESS PLAN DESIGN. HOW TO WRITE A BUSINESS PLAN FOR DUMMIES. The structural guidelines are; The Executive Summary The importance of the executive summary in a business plan can never be over stressed as it is the most important aspect of the business plan.
If your business plan should be taken seriously, then this is where the real work lies. of results for "business plan dummies" Business Plans For Dummies Dec 31, by Paul Tiffany and Steven D QuickStart Guide - The Simplified Beginner's Guide to Writing a Business Plan (Business Plan, Business Plan Writing, Business Plan Template) Nov 4, by ClydeBank Business.
Kindle Edition. $ Read this and over 1. The business plan generally projects years ahead and outlines the route a company intends to take to reach its yearly milestones, including revenue projections.
A well thought out plan also helps you to step-back and think objectively about the key elements of your business venture and informs your decision-making on a regular basis.
From Business Plans For Dummies, 2nd Edition. By Paul Tiffany, Steven D. Peterson. A well-developed business plan is critical for any start-up business. To develop a thorough business plan, research your customers and competition; avoid mistakes that lead to business failure; and know how to implement a business plan and make it work.
How To Write a Business Plan Business Plan Writing for Dummies | How to Write a Business Plan Even if a business is small, it still needs a written business plans that focuses on the essentials regarding organization structure, products and services offered, marketing strategy, sales strategy and a clear description of the enterprise financial strategy.
Writing a Business Plan Georgia State SBDC 2 Why Write a Business Plan? A Business Plan helps you evaluate the feasibility of a new business idea in an objective, critical, and unemotional way.