Do you need a small-scale business plan to help prepare your venture for success?

Writing a good business plan depends on several factors considered critical to the growth of a business. A comprehensive business plan helps in charting a course for the future sustainability of your venture, eventually translating to profitability and stability.

Do you know different types of business plans exist? Do you know you can make good money writing business plans? Are you aware of the critical risks associated with a business plan? Are you looking for business plan writing software? Try Liveplan.

Well, let’s go through the world of business plans together.

EXAMPLES OF BUSINESS PLANS

Here are some common business plans:

AGRICULTURE

PETS

FOOD & DRINKS

HEALTH & CARING

FASHION AND BEAUTY

INTERNET AND TECHNOLOGY

AUTO AND TRANSPORT

FINANCIAL SERVICES

OTHER BUSINESS SERVICES

Developing A Business Plan Outline

All business plans follow a particular order. Although they may have slight variations, these plans should follow an outline to avoid looking shabby.

For example, an executive summary cannot be at your business plan’s bottom. The point here is that the arrangement of a business plan is sequential to guide users adequately.

An example of a good business plan outline will include the following sections in this order;

– Executive Summary
– Company Description
– Products and Services
– Marketing Plan
– Operational Plan
– Management and Organization
– Startup Expenses and Capitalization
– Financial Plan, and lastly 
– Appendices

Here is a brief explanation of the sections:

Executive Summary

Because of the importance of this section, it usually comes first. Investors pay close attention to it to determine if your business is worth investing in. Hence, this section should captivate the reader and exude the enthusiasm of the business plan writer.

Company Description

This contains a basic description of your business highlighted through the mission and vision statements, goals, target market, legal structure or ownership, and industry.

Products and Services

This section showcases the products and services and how they solve particular needs. This is usually presented from the client’s point of view.

Also, it highlights the business’s competitive advantages over its competitors, and lastly, the pricing structure of its products.

Marketing Plan

The marketing plan section provides information on the type of marketing to attract and retain customers. It highlights the target market for the business, marketing research, barriers to entry, and threats to business promotion.

Operational Plan

Information on general and specific business operations is essential here. This section covers areas such as production, quality control, location, and the legal environment of the business. The hired personnel, inventory, suppliers, and the business’ credit policies are also highlighted in this section.

Management and Organization

The management organization of the business is provided, with the functions and duties of each position spelled out. This is because how a company is organized around these offices affects business performance.

Startup Expenses and Capitalization

This aspect is crucial to business plans, and investors are usually very interested in its contents. It includes the startup expenses, opening day balance sheet, and personal financial statements.

Financial Plan

The financial plan should provide financial projections at specific intervals. This can be yearly intervals, as the case may be. It should also contain a cash flow projection of the business and a break-even calculation.

Appendix

Some details are not made available on the business plan to prevent cluttering. These details are collated into an appendix where readers get further clarification.

These essential elements must be present in a startup business plan for small businesses.

With this template I have provided, I am sure you now have a helpful guide to help you create a viable business plan for the small business you want to start.

Conclusion

Templates and business plan software is the best approach to writing a convincing business plan that attracts funding. Due to the layouts of Business Plans, a writer needs to brainstorm on what suits the particular business he is writing on.

For each section, a business plan template guides what it should contain. This makes it easy to create a business plan that impresses investors.