Write Ideas and Input/Output of the Business.

Writing Business Plan For Your Money-Making Idea

Now that you have at least a business idea, I usher you to the stage of writing business plan. The business plan is not a mere academic exercise required in business, it’s actually the “manual” of the business which contains the objectives and important details about the operation and finance of the business. Writing your business plan presents an opportunity to creatively think ahead and carefully plan for the first few years of the business. You can use the business plan to apply for loans and as a tool for setting, monitoring and meeting business goal.

Although, there’s no set format, a good business plan typically contains:

     • Cover Page - Identifies your business.
     • Table of Contents - Organizes information for the reader.
     • Executive Summary - Provides a “big picture” or view of the plan, highlighting the factors that will lead to success.
     • Business Background - If it is a brand-new business, include your background qualification and skills.
     • Marketing Plan- Relates the business’s marketing strategy(leveraging on the advantage your products/services have over your competitors).
     • Action Plan- Summarizes how you will create and deliver your product or service.
     • Financial Statements and Projections -Illustrates how the business will perform financially based on the plan’s assumptions.
     • Appendix - Includes statistical analyses, marketing materials, resumes.

Technically, business plans can be divided into three sections:

     • A concise narrative section
     • A financial report
     • Appendix

The first section will outline the nature of the business and the marketing plan. This will include a description of products and/or services.