By on February 23 2018 16:54:34
While it’s not essential to have a business plan, you may find it easier to get funding if you have one that is well thought out and contains all of the necessary detail about your prospective business.
Executive Summary. The executive summary goes near the beginning of the plan but is written last. It should provide a short, concise and optimistic overview of your business that captures the readers attention and gives them an interest in learning more about it. The executive summary should be no more than 2 pages long, with brief summaries of other sections of the plan.
Know your finances. The other essential part of a business plan is the finance section. If your business isn’t going to make any money, it won’t be successful so you need to be very clear on how you will make a profit. Use it to your advantage – your plan will be incredibly useful when it comes to securing loans and investment, but that’s not its only use. It’s also a personal tool to help you understand your objectives.
Your business plan should provide certain details about your idea, including your intended market and the industry in general. Using a business plan template will ensure that you don’t overlook any important information.