Your Business Plan Is A Tool That Can

Your Business Plan Is A Tool That Can-35
A typical business plan runs 15 to 20 pages, but there's room for wide variation from that norm. If you have a simple concept, you may be able to express it in very few words.

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The purpose of your plan also determines its length.

If you want to use your plan to seek millions of dollars in seed capital to start a risky venture, you may have to do a lot of explaining and convincing.

So what's included in a business plan, and how do you put one together? A good business plan follows generally accepted guidelines for both form and content.

Simply stated, a business plan conveys your business goals, the strategies you'll use to meet them, potential problems that may confront your business and ways to solve them, the organizational structure of your business (including titles and responsibilities), and finally, the amount of capital required to finance your venture and keep it going until it breaks even. There are three primary parts to a business plan: In addition to these sections, a business plan should also have a cover, title page and table of contents. Depending on what you're using it for, a useful business plan can be any length, from a scrawl on the back of an envelope to, in the case of an especially detailed plan describing a complex enterprise, more than 100 pages.

It helped make the new venture a winner long before the big day arrived.

"As a result of the retail support up front," Walker says, "we had over 45 licensees running the gamut of product lines almost from the beginning."These middle-stage enterprises may draft plans to help them find funding for growth just as the startups do, although the amounts they seek may be larger and the investors more willing.If you're just going to use your plan for internal purposes to manage an ongoing business, a much more abbreviated version should be fine.About the only person who doesn't need a business plan is one who's not going into business.The classic business plan writer is an entrepreneur seeking funds to help start a new venture.Many, many great companies had their starts on paper, in the form of a plan that was used to convince investors to put up the capital necessary to get them under way.They're used by investment-seeking entrepreneurs to convey their vision to potential investors.They may also be used by firms that are trying to attract key employees, prospect for new business, deal with suppliers or simply to understand how to manage their companies better.Not all business plans are written by starry-eyed entrepreneurs.Many are written by and for companies that are long past the startup stage.Business plans tend to have a lot of elements in common, like cash flow projections and marketing plans.And many of them share certain objectives as well, such as raising money or persuading a partner to join the firm.


Comments Your Business Plan Is A Tool That Can

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