How to Write a Business Plan – And Use It
I’m always happy to pass on great info...and this is great info! I’ve included a few snippets below lifted from the full article.
Whether you’re seeking finance for your start-up or just looking to begin trading, it’s important to put together a strong business plan.
1. Start off with a basic outline that will make sense to funders
“Begin with an executive summary – two pages, maximum three. You need to sell your business to recipients to encourage them to keep reading. Within it, you must:
- Demonstrate your understanding of the market, its trends and dynamics in practical and example-based ways.
- Where possible, show that you have a balanced and experienced team – for example, operations, finance, sales, tech/innovation – or at least access to professionals with these skills.
- What’s your unique selling proposition? Why should people buy from you? If not, how is it differentiated? Is it faster, cheaper or does it offer a better experience?
- Think about sustainability: is your business addressing a continuing need rather than a passing fashion?
- What is the business model? How will you make money?
- Proof of concept: this is hugely important. The more you can prove that this is much more than an idea – that people want your product/service, and (even better) they’re already paying for it – the easier it will be to raise money.”
2. Make it sharp and well structured
“Set out clearly what your business does. Don’t mix it up with a business model, which outlines how your business will work.”
Do you need more detail on this subject? Head on over to the full article HERE for more ideas and perspective. Afterwards, why not drop me an email to share your thoughts [email protected]; or call me on (0421) 359-589.
Talk soon,
Richard