Not only can it help you attract funding, it can also help you test your business idea.
You may need to tailor your plan to the target audience You may want the plan to 'sell' the business. For example, to your bank manager or investors.
Specific issues such as the directors' personal track records may need to be addressed. Ask the intended recipient first. Content of a business plan Base the plan on detailed information where possible.
But do not include all the detail in the plan. Leave the detail for operational or marketing plans. Keep the plan short Focus on what the reader needs to know. Cut out any waffle.
Make sure there are no spelling mistakes. Detailed business plans are often quickly shelved, because they are difficult to use on an ongoing basis. Include any detailed information you need in an appendix For example, you might want: Base your business plan on reality, or it may be counterproductive Over-optimistic sales forecasts can lead to increased overheads followed by a cash flow crisis and drastic cost cutting, all of which can seriously damage morale.
Be realistic, even if you are selling the business to a third party. Financiers, business partners and employees will see through over-optimistic plans that ignore weaknesses or threats.
Management credibility can be damaged. Make the plan professional Put a cover on it. Include a contents page, with page and section numbering. Start with an executive summary. This summarises the key points, starting with the purpose of the business plan.
Use charts, if helpful. Even if the plan is for internal use only, write it as if it were aimed at an outsider Include company or product literature as an appendix.
Give details about the history and current status of the business. Review the plan Read through the plan from your target reader's point of view. For example, try to imagine the impression the plan will make on your bank manager. What might go wrong e.
Concentrate on the executive summary.New Sample Business Plan. A well-conceived, professional restaurant business plan is your greatest single asset for turning your restaurant dreams into reality. It's the key to convincing anyone to invest money, make a loan, lease space or do business with you prior to opening.
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Not only can it help you attract funding, it can also help you test your business idea. A business plan does not need to be a lengthy document but should provide the key elements. These simple and professional business plan.
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