Why do I need a Business Plan ?
We all need a plan – in life we will plan a trip to the most finite degree – but so many businesses which are intended to be for many years, stumble along with no formal plan of action.
A Business Plan formalises all aspects of the business and allows the principals of the business to form an informed opinion on a whole raft of issues.
Headings in a Business Plan include:
Products or Services
Market and Competitors
Sales and Marketing
The Management Team
Operations and Processes
Financial Forecasts
Financial Requirements
Assessing the Risks
Appendices
Each of the above headings will be expanded upon – but when all the above are produced ther plan should be finished with an Executive Summary and would be inserted at the start! But this can only be effectively produced after all the sections have been completed.
The aim of an executive summary is to whet the appetite of the reader making him/her want to know more.
