How to Write a Simple Succes Business Plan

How to Write a Simple Succes Business Plan 

Having a great business idea is not good enough; you need to have a plan that brings that idea to fruition. Most lending institutions and investors want to see that you have thought through your idea and have a strategy. The most common way to present your strategy to these individuals is with a business plan. Don’t let the concept overwhelm you. Chances are you’ve already thought about each element of the business plan. You just need to put it on paper. Here is an outline of items you should cover.

Describe the company

Give an overall description of the company. This is where you present the big idea of what you want to do. Talk about what products or services you will provide and all the ways it will benefit your customers. Convince the reader that the world needs your company sooner rather than later.

What is the current environment in that particular industry?
In this section, you are able to show that you have done enough research to foresee how your company would fit into the industry. Talk about who your primary competitors would be and how your product or service would be able to outperform theirs. Discuss the demand for your product or service. Is there enough demand to merit a new company in the industry? Finally, address potential obstacles you anticipate having to overcome in order to be successful.

Target market 

Explain who you see to be your ideal client, those customers who would be most likely to purchase your product or service. Is it other businesses or individual consumers? Additionally, describe your plan to communicate with and market to those entities. Consider possibilities such as cold calls, direct mail, trade shows and social media marketing. Include any website functions or elements that would help you to reach your audience as well.

Goals

Setting measurable goals at certain intervals (month, year, five years… helps you to see your progress and strive toward something. Communicate your goals and your strategy for achieving them in your business plan. Goals like the number of sales closed, number of markets into which you’ve expanded or the number of appointments with potential clients you have on the calendar are examples of measurable goals.

Organizational chart

Few businesses last without employees. You need to have a plan for what management of those employees will look like. Discuss hierarchy and specific roles, not just for now but also for what the business will look like in the future.

Financing

Finally, there is the question of how you will pay for it all. Research how much you will need for start up costs like office space, inventory, licenses, website development and marketing so you can present that number in the business plan. Also discuss any finances you or other investors have already committed to investing and where that money will come from (mutual funds, savings, downsized the house…. Do your best to include a projected profit and loss for the business based on your goals and any known expenses.

Summary

Summarize the entire plan in a page or two and put it at the front of the business plan, even though you write it last. Writing it last ensures you’ve thought through everything before writing the summary.


Tiffany Marshall is a freelance writer from Texas who writes about Dallas Quickbooks , Austin, Quickbooks,San Antonio and yes, you guessed it Quickbooks.

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