The First DRAFT Business Plan
Once you have developed your idea and tested it in outline, it is time to commit it to paper as an outline Business Plan.
As we discuss in the facilitated course you might think about the Business Plan as a thoroughly researched, convincing story that you create for others to encourage them to help you by supporting, funding or participating in your business. Equally if not more important is the Business plan as a tool to help / encourage you to work out in detail what you are going to do and how you are going to do it.
There are many many Business Plan templates available on line. We felt the one on HSBC fitted the bill for our users, here is a copy of the Business Plan Template.
Writing a good Business Plan takes some time and careful thought, and should be written with your audience (bank, business advisor, business angel, potential partners etc.) in mind.
Take your time and you may find the articles below of interest too.
This article gives Business Plan Top Ten Tips.
The following article gives Mistakes To Avoid.
You should now take some time to review the ideas and information you created in the earlier steps and adapt it to fill in your chosen template.
Once you have done that continue with the following exercise.
Reality Check 2
Before you go on to Step 5 it is time to do another quick “reality check”. Reality Check 2 is to check out your financial needs and expectations. You can do that here.
Go to Reality Check 2© 2011 – 2014, The Strategy Cafe, all rights reserved.