A guideline on how to write a business plan

business plan
A business plan is not only necessary when starting your business (whether you have the best business idea or not) but is also an important tool for guiding your business. A plan is important regardless of the size of the business. In fact, if your business is small, it is the perfect opportunity to learn how to write a business plan.A good business plan:

· Serves as a map to your business’ future

· Allows you to allocate your resources properly

· Prepares you for problems you might face or opportunities that might arise

· Gives you goals and objectives you need to achieve
Tips on how to write a business plan

Even though business plan writing is not guided by strict rules, there are certain guidelines available that can help you write an effective and professional plan. Some of the useful guidelines you can use are:

· Be clear and to the point
Your business plan should be clear and brief such that it can be understood by the audience. When writing a plan, try not to dwell on the unnecessary details and focus on the key issues.

· Spend quality time on the plan
Writing a business plan should not be a matter of few minutes but it should be something that is carefully researched. You should spend quality time researching and writing the plan as it is an investment to your business’ future. In addition, you should write your business plan when you are fresh and relaxed and not when you are tired.

· Base your plan on facts
When writing a plan, it is important to ensure that the information you write is truthful, especially if it is for the external audience such as the creditors and the investors. Before you write a plan, you should first conduct a thorough research. Base all the information on facts and ensure that you have evidence to back it up.

· Include realistic objectives
Goals and objectives are a vital part of the business plan. The goals you include in your plan should be clear, consistent and realistic such that they can be achieved. Realistic goals will earn the trust of the management, investors and creditors.

· Write in simple and understandable language
The readability of your plan is very essential for it to be effective. Do not bore your audience with large paragraphs, hard terminologies and endless statistics. Vital information can be skipped over or misunderstood by the audience if the language is complicated.

Here are some tips on the writing style that you can use:

1. Use headings and subheadings to guide the audience

2. Use short paragraphs and utilize spacing

3. Use bullets for lists

4. Make use of visual aids such as graphs, tables and photos

What to include in your business plan

When writing a business plan, the following is information that you should include:

1. Profile or history of the business

2. The mission and vision of the business

3. The goals and objectives

4. The strategies that will be used to achieve the goals

5. A short summary of the plan at the end

Conclusion

Learning how to write a business plan is very easy if you have useful guidelines to use. With the above tips and guidelines, you can be able to write an effective plan for your business. In addition, we recommend visiting this website where you can find list of good business ideas.

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