Business Plan
Writing a business plan is vital for the success of your company as it attracts investors, business partners and should be a blueprint for business success. To create a business plan, you must go through the core eight sections and provide a comprehensive analysis of your company. Let’s dig into our article to witness the actual process to create a …
Think you have a great idea for starting a new business? Need to check if your idea is feasible? Then the best way to find out whether your idea is viable or not is to research and write up a proper business plan to attract potential investors. And the only way to do so is to follow the right, simple, …
The Executuve Summary is by far the most important section in a business plan. If you are writing your business plan, then you need to understand this. 90% of what you are writing will not be read. I am not saying you are wasting your time writing a detailed business plan. I am saying you are not focussing enough of …
The cash flow forecast (or a cash flow statement) is one section of a business plan that people experience the most difficulty with. Businesses fail for a variety of reasons; however, ultimately, they close because they run out of cash. This means, the better you manage your money, the more chance you have of keeping your business operating.Preparing a cash …
Writing a business plan is a challenging experience for many entrepreneurs. Even if they have a great idea, they fail to start the business or get funding – mainly because, to put it nicely, their business plan just plain sucked. Writing a business plan shouldn’t be a daunting experience, it should be an exciting document where you put together all …
Explaining how much money your business will make is a crucial part of writing your business plan. Let’s be honest, unless you are a charity the main reason you are in business is to make money. If you are preparing a business plan for investment or funding, you will have to explain when you will start making money and …
Effective business planning is all about looking into the future. In your business plan you must be able to predict the future and ensure your business is best placed to survive, and if possible, thrive. As difficult as this sounds there are a few tools and techniques that will help you plan for the future. The most widely used business analysis tools …
Along with your mission and vision statement, when writing your business plan you need to convey your company’s core values and principles. A company’s values and philosophy act as a “guiding beacon” that underpin your mission and vision and provide your business with a purpose beyond making a profit. The importance of stating what your company stands for should not …
The next step in developing your strategy in your business plan is developing your Mission Statement. Whether you are starting up a new business or running an existing business you must identify the fundamental reason for your business to exist. Making money is an obvious choice but this is not a good enough reason alone for the business to exist. …
The first section of your business plan after the executive summary is your business strategy. In this section, you will have to explain what our business is about, where you want to go and how you will get there. The first stage in developing your business strategy is defining what your business is and what it will be in the …
