Business Plan - Prepossession For Any Business
The length of a business plan is of concern every time you ask people to submit their business plan. The many questions that arise are how long should the plan be? What should be its length? How many pages long? Etc The length of a typical business plan can greatly vary from 10 pages to a 100-page document. It depends on the intended use of the plan and its audience. Most plans should be short enough to be used as a working document or not bore your reader.
Whatever be the length of the business plan as said above depends upon the purpose of the project. Possessing an executive summary of your plan is essential to have an overview of the entire plan. Stating the vision and mission of your plan and project is also required, conducting a marketing analysis of your plan, the marketing and sales analysis once done, you need to make projections whether it may be sales or finance or any; also some investors look at the product/market opportunity first and then the team, but most seminar speakers put the emphasis on the team. Hence determination of the team especially the core team id important. The goal of the business plan is to create interest - not to have an investor write you a check. In creating interest, the full story of your company need not be told. Rather, the plan should include the essential elements regarding why an investor should invest and spend more time examining the business opportunity. Business plans, like other marketing communications documents, should be visually appealing and easy-to-read. Finally you know that a plan consists of the following key components
Executive summary
Business description
Market strategies
Competitive analysis
Design and development plan
Operations and management plan
Financialfactors
Business plans can be divided roughly into four separate types. There are very short plans, or miniplans. There are working plans, presentation plans and even electronic plans. They require very different amounts of labor and not always with proportionately different results. That is to say, a more elaborate plan is not guaranteed to be superior to an abbreviated one, depending on what you want to use it for.
The Miniplan. A miniplan may consist of one to 10 pages and should include at least cursory attention to such key matters as business concept, financing needs, marketing plan and financial statements, especially cash flow, income projection and balance sheet. It's a great way to quickly test a business concept or measure the interest of a potential partner or minor investor. It can also serve as a valuable prelude to a full-length plan later on.
Be careful about misusing a miniplan. It's not intended to substitute for a full-length plan. If you send a miniplan to an investor who's looking for a comprehensive one, you're only going to look foolish.
A working plan is a tool to be used to operate your business. It has to be long on detail but may be short on presentation. As with a miniplan, you can probably afford a somewhat higher degree of candor and informality when preparing a working plan.
A plan intended strictly for internal use may also omit some elements that would be important in one aimed at someone outside the firm. You probably don't need to include an appendix with resumes of key executives, for example. Nor would a working plan especially benefit from, say, product photos.
If you take a working plan, with its low stress on cosmetics and impression, and twist the knob to boost the amount of attention paid to its looks, you'll wind up with a presentation plan. This plan is suitable for showing to bankers, investors and others outside the company Almost all the information in a presentation plan is going to be the same as your working plan, although it may be styled somewhat differently. For instance, you should use standard business vocabulary, omitting the informal jargon, slang and shorthand that's so useful in the workplace and is appropriate in a working plan. Remember, these readers won't be familiar with your operation. Unlike the working plan, this plan isn't being used as a reminder but as an introduction.
Business information that once was transferred between parties only on paper is now sent electronically. So you may find it appropriate to have an electronic version of your plan available. An electronic plan can be handy for presentations to a group using a computer-driven overhead projector
The length of a business plan is of concern every time you ask people to submit their business plan. The many questions that arise are how long should the plan be? What should be its length? How many pages long? Etc The length of a typical business plan can greatly vary from 10 pages to a 100-page document. It depends on the intended use of the plan and its audience. Most plans should be short enough to be used as a working document or not bore your reader.
Whatever be the length of the business plan as said above depends upon the purpose of the project. Possessing an executive summary of your plan is essential to have an overview of the entire plan. Stating the vision and mission of your plan and project is also required, conducting a marketing analysis of your plan, the marketing and sales analysis once done, you need to make projections whether it may be sales or finance or any; also some investors look at the product/market opportunity first and then the team, but most seminar speakers put the emphasis on the team. Hence determination of the team especially the core team id important. The goal of the business plan is to create interest - not to have an investor write you a check. In creating interest, the full story of your company need not be told. Rather, the plan should include the essential elements regarding why an investor should invest and spend more time examining the business opportunity. Business plans, like other marketing communications documents, should be visually appealing and easy-to-read. Finally you know that a plan consists of the following key components
Executive summary
Business description
Market strategies
Competitive analysis
Design and development plan
Operations and management plan
Financialfactors
Business plans can be divided roughly into four separate types. There are very short plans, or miniplans. There are working plans, presentation plans and even electronic plans. They require very different amounts of labor and not always with proportionately different results. That is to say, a more elaborate plan is not guaranteed to be superior to an abbreviated one, depending on what you want to use it for.
The Miniplan. A miniplan may consist of one to 10 pages and should include at least cursory attention to such key matters as business concept, financing needs, marketing plan and financial statements, especially cash flow, income projection and balance sheet. It's a great way to quickly test a business concept or measure the interest of a potential partner or minor investor. It can also serve as a valuable prelude to a full-length plan later on.
Be careful about misusing a miniplan. It's not intended to substitute for a full-length plan. If you send a miniplan to an investor who's looking for a comprehensive one, you're only going to look foolish.
A working plan is a tool to be used to operate your business. It has to be long on detail but may be short on presentation. As with a miniplan, you can probably afford a somewhat higher degree of candor and informality when preparing a working plan.
A plan intended strictly for internal use may also omit some elements that would be important in one aimed at someone outside the firm. You probably don't need to include an appendix with resumes of key executives, for example. Nor would a working plan especially benefit from, say, product photos.
If you take a working plan, with its low stress on cosmetics and impression, and twist the knob to boost the amount of attention paid to its looks, you'll wind up with a presentation plan. This plan is suitable for showing to bankers, investors and others outside the company Almost all the information in a presentation plan is going to be the same as your working plan, although it may be styled somewhat differently. For instance, you should use standard business vocabulary, omitting the informal jargon, slang and shorthand that's so useful in the workplace and is appropriate in a working plan. Remember, these readers won't be familiar with your operation. Unlike the working plan, this plan isn't being used as a reminder but as an introduction.
Business information that once was transferred between parties only on paper is now sent electronically. So you may find it appropriate to have an electronic version of your plan available. An electronic plan can be handy for presentations to a group using a computer-driven overhead projector