Business Plan is very important paper in the business sphere. It helps run the business or to begin it with the investments. Business Plan has many details and features that should be determined before its writing. It also has a constant structure as every document. Its structure helps to describe all the business aspects such as: service and production, market, management, terms for investments etc.
This works includes the description of Business Plan. It’s structure and features.
A Business Plan is very important type of paper that is needed at the first stage of business creating and also when the business exists already but needs new ways of development. This type of paper describes what a business is or will be and all aspects of its running. Commonly there are two reasons why the Business Plan is needed:
”¢ it serves like a guide for running that exists already;
”¢ it is asked for in a case of financial backing for a new business.
Before writing a Business Plan your objective should be determined. If you already have a business and you need to prepare Business Plan, your aim is to project where your business is going. This type of plan helps to direct the course of business development. It shows what should be done to improve the system of your business. This type of business paper also gives the possibility to compare real performance with created plan and make necessary improvements. Sometimes planning Business Plan and its fallowing is the only way to overcome the problems that appeared in business. It includes strict planning (commonly for five years period), short term business planning (generally for one year), budgeting (quarterly), and forecasting (yearly, quarterly, or monthly). According to the requirements of the assignment and the size of your business, this type of business paper may only include some of these periods, such as operational and strategic planning.
But if your objective is to find the capital investments for new business, you have to prove that your future business will survive among others. In the Business Plan you have to report the main mission of your company and strategic methods for reaching noticed mission. It contains such aspects of planning as operational and strategic planning.
No matter which objective will be chosen the Business Plan should represent written description and financial items about your business organization. The more effective plan, the more chances it will work not only on the paper but also in real life. Successful Business Plan contain the information about technology, markets, facilities, profitability, products, employees, revenue and all other aspects tightly connected with business sphere.
Business paper it is not usual piece of paper with plan how to act, it is a Business Plan that must persuade the investor to invest money in the project. Good Business Plan must consist the facts about qualified management of the organization; market for the product; reliable financial operations.
Writing the Business Plan. It is very important to know the business structure. It consists of business components such as finance, marketing and production. The main categories of a Business Plan are following:
Mission and Strategy Statement
Marketing and Sales
B. The customer need
C. Who the customers are
D. Product/Service description
F. Competitive analysis
A. Sources of input and costs
A. Backgrounds and qualifications of key players
B. Staffing plan
A. Current financials (if an existing business)
B. Projected financial statements
C. Application of funding requested (if applicable)
D. Capital structure
A. Supporting documents
B. Additional detail as required
Brief Guidelines for Sections
Executive Summary ”“ it is the summary in one page. It shows your goals, short description of the product, market and business, what is being asked (money), what are approximate period of investments.
Mission and Strategy Statement ”“ includes long term goals of the business. Here you must analyze the needs of the business, determine the means and technology that will be used, describe expected customers. In this part you must allege why the business will be successful.
Marketing and Sales ”“ this part contains very detailed information of the market and the interrelation of the company to it.
Operations ”“ includes the information about how the service or product is produced or purchased. This section can differ depending on the type of the business.
Management/Staffing ”“ the information about main members of the management group.
Financial Projections ”“ includes financial information for at least three years. This part contains the Balance Sheet, the Income Statement and the Cash Flow Statement.
Business Plan is very important paper that helps to run the business. There is a certain structure that helps to express all the aspects of the business.
Lasher, William. The Perfect Business Plan Made Simple. New York: Doubleday, 1994.
Mayer, David. The Business Theory. London, 2002.
Stone, Michael. Business papers and their structure. New York: Doubleday, 1998.
Wilson, Andrew. Steps of Business plan writing. Latest University of California Press, 2006. Print.
Jefferson, Michael. Business papers as a part of successful business. Oxford University Press, 2007. Print