Business
Plan Outline
Business planning
involves a wide range of issues - products, markets,
pricing, packaging, promotion, staffing, purchasing
and so on. Before commencing on your business plan in
detail, start by defining an outline (i.e. a table of
contents) of your plan. This will allow you to concentrate
on the essentials of planning the business rather than
becoming too absorbed in the detail at the initial stage.
Ensure the
content is relevant
Having devised the basic outline for your business plan,
the next task is to expand this to include subheadings
and appendix titles (see the sample plan at demo).
This extended structure needs be reviewed to ensure
that all the salient elements of the plan are included
and that it has a logical flow. You also need to be
absolutely clear about the primary purpose of the plan
from the outset and ensure that the plan is correctly
targeted at its audience - investors, directors/shareholders
or management team etc. For example, a structure that
is mainly devoted to internal development would be completely
unsuited to a plan for raising funding.
Prepare a
work programme & timetable
Once the plan's structure has been defined, draw up
a checklist and basis for a work programme and timetable
to complete the plan. This work will often entail considerable
research and thought prior to the commencement of writing.
For example, market research may be needed before sales
volumes and prices can be determined and professional
advice may be required to assess capital expenditures
in relation to the acquisition of premises and so on.
The programme could correspond to the main sections
of the proposed plan – thereby tackling each section
at a time and progressing through.
Set out target dates for completion
of sections and allow enough time to review and produce
revised drafts of the plan – at least five drafts
would not be unusual. But do not extend the dates over
too long a period (ideally limit to two months for a
complex plan, less for smaller plans) otherwise you
may be forever incorporating changes and never get the
plan finished!
Taking advice
and seeking assistance
Seek external assistance sooner rather than later. This
may take the form of software tools to use, consultancy
assistance or a mentor for general guidance. Good advice
on writing a business plan from an experienced professional
can be very beneficial. They can make your task easier
and provide some important objectivity to your plan.
They will see it as an outsider and ask some of the
challenging questions that may have escaped your notice.
You should always have the financial numbers verified
by a qualified accountant.
Outline financial
forecasts
At an early stage, it is wise to prepare an outline
of the sales and financial projections (for at least
the first 12 months years) to explore the general direction,
cost implications and funding requirements. This should
give an indication as to the level of viability of the
plan and confirm that it is worth proceeding with it.
stepbystep micro
business plan software makes preparation of your plan
easy - see demo
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