Create A Business Plan - Tips To Help You Create A Great Business Plan

If you're an entrepreneur getting ready to create a business plan, these tips will get you started in the right direction in creating a business plan.

The Business Plan Is Your Baby--It Needs To Look Like You.
The business plan should reflect the personality of your management team, and the type of company you want to create. As the reader goes through it, he Should get to know the people involved in the company, their vision, their objectives, and their enthusiasm for the company and the industry. Tell the story of your company in your own voice. A plan for a music production company would look much different than a plan for a medical device manufacturer.

Not Everyone Has A Flair For Fiction
Business Plans are essentially works of fiction--documents that talk about what you imagine or hope may occur in the future, not what has already occurred. This type of writing is difficult for everyone. You've heard of "writer's block". The problems you are having keeping the words flowing are precisely the ones faced by the great writers, except many of them have to keep going because the publisher has given them a unreachable deadline and they've already spent their advance, but you of course, having read Rome Wasn't Planned, Funded, and Built in One Day have allowed plenty of time to finish the Business Plan--so there's no reason to feel pressured. Right?

If you feel blocked, don't worry. It's all part of the process. The key is not to quit. Put a few words down on the paper, then a few more. Jot down concepts rather than trying to do complete sentences.

Management, Management, and More Management
The crux of the matter in writing a Business Plan is to prove to the reader that the people involved in the business have the skill and experience to create a successful enterprise.

Investors put money behind people, not simply behind cool products and interesting technologies. There are many wonderful, patented inventions that never see the fluorescent light of day at Wal-Mart because no one could figure out how to profitably manufacture and sell the product. You must tell the reader about what you have accomplished in your business career, not just tell about the positions you have held or what mighty corporations you have worked for. What have you done that can inspire confidence in your ability to execute the business strategy in the plan? Write in active terms: I increased revenues 100% in two years. I cut divisional costs by 45%. I supervised 100 people in 8 states.

One of the most striking, and succinct statements I have ever read in the Management Section was: "In our last venture, I earned the investors a 2,500% return." Most of us would take a chance on backing that guy.

Hope these tips help you when you create your business plan.

Do you know what should be included in your business plan? Receive a complimentary business plan template. Just go to Business Plan Template

About The Authors
Brian Hill and Dee Power have written several nonfiction books including Business Plan Basics, "58 Ways to Find Money for Your Business, Inside Secrets to Venture Capital" and Attracting Capital From Angels, Reach them through The Capital Connection

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