How to Write a Business Plan: Tips from the Experts - StartupNation

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How to Write a Business Plan: Tips from the Experts - StartupNation

Writing a business plan can be a daunting task. Read on for some of the universal best practices on how to write a business plan.

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RedSinCrisis

This is great! thanks for information ;)

McCandless

A business plan is a document that summarizes what your business is all about. It tells where you want to go with your business and how are you planning to get there. More specifically, a business plan for your small business summarizes the financial objectives of your business and your future position in the market that will give you the edge to achieve your goals.

Most importantly, the business plan is created as an essential asset that can help you raise capital. This capital will help you kick-start your business. In this article, we outlined the initial steps that you need to write a business plan for your small business successfully.

Preparation

All business plans have common goals – describing the business and its purpose, market analysis, financial projections. But the size and roles of the business plans, in general, is different. This a lot depends on your short-term and long-term business goals.

First, you have the mini business plan. In essence, it’s a short business plan (10 pages at least) that has the goal of exploring a potential interest in your venture and stands as a starting point for a much larger business plan.

Next, you have the working business plan. The working business plan is the complete version of the mini plan. The working business plan outlines how you’re going to build the business in a detailed manner.

Then, you got to have a presentation business plan. This is a complete business plan is intended for potential investors in your business and bankers. The presentation business plan requires elegance and the right business terminology. The public and the investors are the main audiences of this business plan.