How To Write A Business Plan

How To Write A Business Plan

Don't let the task of writing and planning paralyze you if you don't yet know how to write a business plan. The key is to get started and I will tell you how in 3 simple steps.

1) Build A Research List. Research is really the key to any business plan so that is where I like to start. This stage is just preliminary to get you started so don't spend alot of time here just yet.

You simply want to start thinking about what is available so make a list of the trade magazines, or printed books on the trade or business you are writing about. It is always good to have references from printed resources to go along with your internet research you will gather later. Write out your list and keep it handy as you move forward.

2) Create A Plan Outline. Build an outline of the different sections you want to cover in your business plan. Some of the more common sections include: the Executive Summary, the Company Summary, a Product Summary, Market Summary, Product Strategy, Start-up Cost Analysis, and Financial Projections. For a listing of each of these sections and a short summary of each view the article titled Business Plan Layout.

You may find it necessary to include a different section or exclude one of the sections above and that is okay. No two business plans are exactly the same because all businesses are different and business plans are often used for different things. Once you get started you will learn how to write a business plan and refine your plan as needed - don't get hung up on that at this stage.

3) Save Time By Using A Template. Find a template to use to enter your main sections in outline form. There is no need to start from scratch here as there are numerous professional looking templates you can use and modify to fit your needs. Most of these will include the main business plan along with one or more spreadsheets with formulas and necessary calculations for profit loss already setup.

Save the time and just modify these forms to fit your needs rather than building a new one from scratch. Use your time for researching and writing your plan not wasting it building your format and spreadsheets. If you are looking for a professional looking business plan and financial analysis spreadsheet check out my business plan toolkit that I highly recommend to save you time in your business plan writing process.

Once you have your initial outline and your templates you can begin your detailed research and simply fill in each section of information. It is typically better to write out as much detail as you can and go back later to refine and cut out anything that isn't needed. Be sure to keep track of your references and include a Works Cited page for referencing your source materials.

Knowing how to write a business plan is more about doing it than reading about it. Use these simple steps to get started and your plan will begin to take shape sooner than you may think.