Business Plans – Do You Know How To Write One?

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Stumbled across this on the BBC News site: How to write a business plan. Would you know how to do that? According to them

A good business plan will contain:

  • an initial executive summary, summarising the detail of the business proposal
  • a written overview of the business’ aims
  • its product or service
  • management team
  • financial forecasts and appendices, such as the CVs of key management members, market research data or technical product information.

The body of your business plan should cover several areas in detail.

Give the reason for the business being established – include business goals, for example, whether ambitious growth is desired or a regular, steady trading level.

Explain what your business will do in simple terms, highlighting any features that set it apart from rivals.

Include market and competitor information, outlining what part of the market you are targeting, key competitors and what differentiates you from them.

Let’s sum it up shall we

Business plan essentials:

Management background

Business aims – what are your future plans?

An assessment of the competition

Research to back claims and forecasts

Business Plan [BBC News]

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