How do I go about making a Business Plan?

Question

I am doing a project for school and i need to learn how to present a business that i am starting to a band for a loan?

Answer 1

According to the book “The ABC's of Writing Winning Business Plans: How to Prepare a Business Plan That Others Will Want to Read -- and Invest In” http://www.amazon.com/exec/obidos/ASIN/0446694150/powerhomebizguid by Garrett Sutton, below are some tips to make a winning business plan that can get funding:

- Money follows management. Investors look first at the people involved in the company. If you are just starting out and don’t have relevant experience, investors expect to see that you have an experienced team of advisors and employees helping you in the business.

- Make sure you “sell” the one reason your business will become profitable.

- State clearly the strategies you will employ to get the word out about your business. Your business plan must show how you will leverage the Internet, public relations, viral marketing, and other strategies to attract customers.

- Present realistic estimates of the time, energy and costs of building a successful business. Do not underestimate or overestimate revenues. While investors know your numbers are simply guesses, they want to see that your numbers are within the “range of reality.” Be careful of your financial statements: this is one area where you can easily lose credibility if presented poorly.

- Benchmark similar companies to show that you’ve done your homework and researched the market.

- Your Executive Summary is your calling card. If it is not a winner, investors may not even read your entire plan. Emphasize your own as well as your team’s track record in the Executive Summary.

- Before sending your business plan to lenders and investors, send it out first to a few in order to get feedback. You’d want to correct your plan if someone tells you that you’re way off mark, rather than have a potential investor tell it to you and lose the chance to get the funding you need.

Here are some resources that can help you write your business plan:

- SBA Business Plan Basics http://www.sba.gov/starting_business/planning/basic.html
- PowerHomeBiz.com Creating a Business Plan section http://www.powerhomebiz.com/startup/businessplan.htm
- Entrepreneur.com Writing a Business Plan section http://www.entrepreneur.com/bizplan/0,7253,,00.html

You may also want to review some sample business plans to see how it actually looks like:

- Bplans.com http://www.bplans.com/sp/businessplans.cfm
- MOOT Corp Business Plan competition winners
http://www.businessplans.org/businessplans.html
- VFinance - View hundreds of real business plans in pdf format. http://www.vfinance.com/home.asp?bps=1&ToolPage=bps_main.asp
- Business Owners Toolkit Sample business plans and information on how to create a plan. http://www.toolkit.cch.com/tools/buspln_m.asp
- PlanWare Planning software and information. http://www.planware.org/
- Virtual Business Plan Walk through the design of a business plan. http://www.bizplanit.com/vplan.html
-SBA Business Planning Guide http://www.sba.gov/starting_business/planning/basic.html
- Small Business Advancement Center http://www.sbaer.uca.edu/business_plan/businessPlan.pdf
- Sample Business Plan General planning guide created by the Canadian Business Service Center. http://www.cbsc.org/servlet/ContentServer?pagename=CBSC_FE/display&c=GuideFactSheet&cid
- Business Plans Index - A subject guide to sample business plans and profiles for specific business types from Carnegie Library of Pittsburgh. http://216.183.184.20/subject/business/bplansindex.html

Some recommended books are :

- Business Plans Kit for Dummies
- The Complete Book of Business Plans : Simple Steps to Writing a Powerful Business Plan
- Writing Business Plans That Get Results : A Step-By-Step Guide
- Business Plans For Dummies®
- Your First Business Plan : A Simple Question and Answer Format Designed to Help You Write Your Own Plan

Hope that the above resources help

Answer 2

I am in the middle of this myself right now. I am using information provided by the Small Business Administration.

You are so smart to plan everything out rather than "wing it". It is time consuming, but it's worth it so you know what you want from the start.

Good luck.

Answer 3

No disrespect intended, be sure to check your spelling before submission of b/p.

Have your objective clearly stated w/ a time table. Have at least two or three avenues of approach for the same goal. Seek and endure constructive criticism.

Sell yourself on your plan, if you wouldn't buy, do not expect someone else to.

GOOD LUCK!

Answer 4

Go to the Small Business Administration's (SBA) website for good information. They have a link and lots of good information about writing a business plan.

Answer 5

I do not have the full answers, some of the things that you would need to know. What is your competitive advantage, who is your market, what kind of expenses will you have. Who is your competitors, what are your weaknesses.

Look into to Small Business Adminstion in your area for ideals

Answer 6

Here's a good site to get started.

http://www.bplans.com/

When you start, instead of trying to write a whole draft, I would start by making bullet points in each category (like marketing, product, management) just to get your thoughts down on paper. Then come back and try make it sound cohesive.

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Answer 7

no longer rather best you'll do it as best you realize the main points of the plan and proposed trade if you're within the UK seek advice Business Gateway who can present you aid and aid