Writing A Business Plan
Is A POWERFUL Way To SELL
Your Company's Plan For The Future!

Our Main Menu

Ideas For Marketing Home

Web Marketing Strategy

Web Site Development

Web Marketing Mini-Courses

Free Web Marketing Courses

Writing a Business Plan

You're in the "Writing
a Business Plan"
section of
our Web site...

Business Plan Guidelines

Business Plan Outline

Executive Summary

Company Summary

Product Summary

Market Analysis Summary

Marketing Strategy

Management Summary

Financial Statements

Business Plan Software

Writing a business plan in the TRADITIONAL sense is the best way to show bankers, venture capitalists, and angel investors that you are worthy of financial support.

So if you decide to write a business plan, make sure it's clear, focused and realistic. Then show them that you have the tools, talent and team to make it happen.

Once you've raised the money to start or expand your company, your business plan should serve as a road map to give you a solid direction.

As you may recall from our marketing strategy sessions, writing a business plan is not some static document that you write once and put away. You will reference it often, making sure you stay FOCUSED and on track, and meet your marketing objectives.

Just like having a Web site on the Internet, every business will change and mature as the marketplace changes and your company grows.

At this point, you've probably got some questions that need REAL answers.

So let's get to them...

You may be asking yourself,
"Do I really NEED a business plan?"

The real answer is that not everyone who starts and runs a business begins with writing a business plan... but it certainly helps to have one.

If you're seeking funding from a venture capitalist, you will certainly need a comprehensive strategy that is well thought out and contains sound reasoning.

On the other hand...

If you are approaching a banker to obtain money for a start-up company, your loan officer may suggest a Small Business Administration (SBA) loan, which will require a business plan.

And also...

If you have an existing business and are approaching a bank for capital to expand, they often will not require a business plan, but they may look more favorably on your application if you do.

So the REAL answer is... if you're IN BUSINESS, you should probably have a BUSINESS PLAN!

What Are Some Other Reasons For Writing A Business Plan?

There're tons of reasons for writing a business plan. Here are some of the most IMPORTANT ones...

Support a loan application
Raise equity funding
Define and fix objectives, and programs to achieve those objectives
Create regular business reviews and course corrections
Define a new business
Define agreements between partners
Set a value on a business for sale or legal purposes
Evaluate a new product line, promotion, or expansion

The list goes on, and on.

So What's IN A Business Plan?

PROOF that your business will generate enough revenue to cover your expenses and make a satisfactory return for bankers or investors.

Our business plan outline covers the key features contained in any good business plan.

Executive Summary--features the highlights of your purpose and sells your plan in two pages or less.
Company Summary--a factual description of your business, ownership, and history.
Products (or Services or both)--describes your products and/or services and how they stand out from the competition.
Market Analysis--provides a summary of your typical customers, competitive landscape, market size, and expected market growth.
Strategy and Implementation--describes how you will sell your product, how you will put your business plan into action, and establishes milestones.
Management Summary--provides background on the management team, their experiences, and key accomplishments.
Financial Plan Summary--contains key business financial indicators including sales, cash flow, and profits.

What Makes Up A Successful Business Plan?

A well thought out idea
Clear and concise writing
A clear and logical structure
Illustrates management's ability to make the business a success
Shows profitability

Why Do Businesses Fail?

Since you may be ask yourself this question, this is an important place to list some of the top reasons.

Lack Of Adequate Business Plan
Management Lacks Essential Business Skills
Management Lacks Leadership Skills
Failure To Use The Business Plan
Lack Of Clear Attainable Goals
Failure To Share, Communicate, And Enforce Your Business Plan
Not Knowing What Customers Want
Underestimating The Competition
Inability To Change
Inefficient And Inadequate Systems And Procedures
Inadequate Financial Plan

Once again, the list goes on.

How Can I Make Writing A Business Plan Easier?

Sitting down in front of a blank computer screen as you prepare to start writing your business plan can be daunting. You may want to consider some ALTERNATIVES that will make the process a bit easier.

Hire a Professional?

A professional consultant will create the business plan for you, but you still have to be prepared to think through your business processes and understand the underlying concepts in your business idea.

Remember, you'll have to work closely with the consultant to ensure that he or she writes a good business plan that accurately represents your business ideas.

Buy a Book?

There are many good books on the market that will help you to understand what needs to go into a good business plan.

A good book on business plan writing will also show you how lay out your plan in an organized professional manner.

For an excellent book on the subject, read Timothy Berry's "Hurdle: the Book on Business Planning" is available new and used at bookstores like Amazon.com.

Use Business Planning Software?

A good business plan software package will also provide you with an outline for writing a business plan that's well-developed, objective-based and professional looking.

Keep in mind...

Business plan software packages will remove the problem of starting from scratch by giving you samples and help structure your business plan for you.

The business plan software should ask you the RIGHT questions to pull out the most important underlying concepts within your business ideas...

... our outline helps you FOCUS on the right content, if you decide to do-it-yourself!

So, whichever way you chose to go, we're here to lend a helping hand by providing a pretty detailed outline that will help you write a POWERFUL business plan. One that SELLS! your company's plan for the future.

Let's start with some basic business plan
writing guidelines. Click here to continue!

Articles related to
writing a business plan.

Gathering Information For
Your Business Plan

Business Plan Mistakes

Design Your Plan
To Fit YOUR Business

Business Plan Maintenance

Articles courtesy of Palo Alto Software, Inc.