Ten Important Things to Think About When Writing a Business Plan

1. Whether you are raising money, borrowing it, or financing a new business yourself, you should force yourself to put into writing a detailed business plan for what you have in mind. Without one, you most likely will be unsuccessful at obtaining money. With one you can guide yourself and your management team through the entire start-up process in an organized and successful manner. That being said, having a written business plan is a must.

2. If you are raising money for your business, you should first carefully think about who potentially will be providing the funds to start the business. For example, if you are hoping to borrow from a bank, your plan should clearly address the risks involved in the business with emphasis on the new business’s ability to pay back any loans obtained. If you are soliciting funds from investors or venture capitalists, your plan should emphasize the business’s growth potential and it’s subsequent return on invested capital. At every step of the way, you should be conscious of writing FOR and TO the targeted reader of your business plan.

3. Making a detailed outline of what you have in mind is probably the most important thing you can do before you actually start writing your plan. Take your time and give your outline a lot of thought. Organize your thoughts in simple phrases or sentences and number and letter each phrase or sentence. Break down big topics into smaller, detailed lists of specific things that must be researched or said. Composing a detailed outline can be tedious, but don’t slack off on this crucial part of the process. Writing from a carefully written outline will give your business plan a definite beginning, middle, and end.

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Business Plan Services – Why They Are Better at Writing Than You

When you first start up a business and you are looking to get funding of any kind, you will need to have a well written business plan in order to get anywhere and if you are not confident in writing one yourself a great alternative is a professional business plan service. Even if you are a talented and well versed writer, unless your occupation is as a current or former plan writer, than you are probably better served seeking help.

Perhaps you doubt this sentiment and feel as though you can tackle a plan all by yourself. Here are some reasons why a professional business writing service will write a better plan than you:

• Experience: Many business plan services employ business plan writers who have been writing plans for years. This is simply a skill that can’t be learned overnight. Just as you may be the best at what you do, a plan writer is the best at what they do. A professional plan writer will not only be able to write well, but they will also know what potential investors are looking for in regards to the plan itself.

» Read more: Business Plan Services – Why They Are Better at Writing Than You

Getting Started Guide to Self-Employment: Your Business Plan

Why you need a business plan

You’ve heard it before, you should write a plan before you start your business. You might be wondering why that’s so important. Here are three good reasons. Writing a plan

  • clarifies what your business goals are so you know how to measure success,
  • helps you spot potential problems so you can plan for them instead of getting caught by surprise, and
  • shows potential investors or lenders how you will make the business profitable so they will be more likely to invest their money or approve your loan.

» Read more: Getting Started Guide to Self-Employment: Your Business Plan