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How To Write A Professional Business Plan by Frederick Sildumn http://www.foribusiness.com Many small business owners don't understand the importance of a professional, complete and informative business plan. Without it, most will never find funding or receive lines of credit with which to start their business or grow. A business plan is a blueprint containing all the necessary information for your company to get money, set goals, hire staff and implement future growth strategies. Most business plans stick to a widely used, specific and uncluttered format. By keeping your business plan straightforward and leaving out any useless or unnecessary information, your investor will be much more likely to take you seriously. If you make the potential investor search for information in a stack of papers, they won't be happy. Unless told differently, stick to the format used by most business owners. Each business plan usually begins with a very brief, yet extremely important, few paragraphs called the executive summary. In this section the potential investor will be able to learn about your company, its mission statement, history and general overview. It should also briefly go into the legal structure and information on the industry. In short, the executive summary is just what it says; a summary of the company. The next parts of the business plan may have different sections based on your business and industry. You describe your products and/or services in-depth; if you make your plan confusing or "hazy," the investor may doubt your abilities and commitment. Next, you set out your strategy for marketing and sales. Then you go on to talk about how your company will operate: what issues you face, who you are allied with, insurance plans, milestones you plan to meet. In the next section, you explain the management system including job descriptions and organizational charts. Finally, you are asked to give the financial information: funding sources, debt, profit and loss, use of funds, a break-even analysis. Although I have given you a brief overview of your business plan and its structure, you will want to check with each potential investor for their specific guidelines. Some investors may want to see charts and projections in a certain order or format. You may also want to have a professional writer evaluate your business plan before you present it just to ensure that you have met all the requirements and presented your business in a compelling manner that will convince others to get involved. |