How to Write a Business Plan

For any new business to be successful you need a business plan, the big question that most new business owners have is how to write a business plan, and why is it important. The importance of a business plan is simple. It sets a plan or focus of what you expect out of your company, preferably in the first year. It can show the weaknesses and the strong points of your plan. It will be a tool that you can share with vendors, lenders, and investors.  It is important because it will be the tool that helps lead you down the road of making your new business profitable for the long term.

So the big question, how to write a business plan? The body of the business plan is going to be the most important; this is the meat of your plan. You are going to need a clear description of your business. Making sure to spell out your goal for the business and how you plan to make this goal a reality. The plan should also include any marketing strategy you might have, marketing is very important in any new business and understanding the best type for your particular interest is vital. You also are going to need to spell out your financial needs and plans. This will help investors feel secure should they decide to invest in your company that you have a clear and concise financial plan.

Now that you know how to write a business plan, what else do you need to include? When presenting your business plan to potential investors or lenders you want it to look as appealing and professional as you can. Make sure you have a cover sheet on the plan as well as a statement of purpose; a personal statement about your goals and vision for your company. You also need to make sure you include supporting documents; this includes copies of licenses, legal documents, tax returns, as well as copy of your franchise contract if applicable.

If you put all the steps above together; a clear statement of purpose, a solid focus, and the necessary supporting documents it will let your investors know you are serious and capable. But if you are still unsure about how to write a successful business plan, you can search the Internet for other helpful information or talk to local businesses in your area that have a plan similar to yours.