Top tips for writing a business plan
A business plan is important for a number of reasons:
1. It gets you thinking about the details of your business’s strategies and operations.
2. It gives you a plan for running the business, and gives you goals for where you want the business to be in the future.
3. A good business plan makes securing finance easier.
Follow our tips to help you write the best possible business plan.
business plan -Get to the point
If people outside of the business are going to be reading the plan, you should want to make it as easy as possible for them to do so.
Use simple language and get to the point – start the plan with an easy-to-read summary of what you expect the business to be.
A business plan is not the time to be vague; vagueness is a sign that you have not fully thought out your business and its operations.
Be as specific as possible about how you are going to run your business and make money.
Know your market
All businesses need to know exactly who they are selling to and whether there is actually a customer base willing to buy what you are selling.
Your business needs a section about your target market and what exactly it is you will be doing to attract them to your business.
Get the numbers right
The numbers are the most important part to success for any business. Your business plan needs to be specific about how much you expect the business to earn, its expected costs, and its expected profits.
The finance section of your business plan will not only make it easier to secure investments and loans, it will also mean you get a much better understanding of what your business is going to be.
It’s okay to dream big when it comes to your business, but you also need to be realistic.
Everything you write in your business plan needs to come from realistic estimates, things you expect are actually possible.
You should also not be too precious about your original ideas.
A business idea is rarely unchanged when it comes to writing the business plan – it is also possible that after the business has started it has to change to reflect what the market wants.
Getting finance with Oracle Consultants
Securing finance for your business or other commercial projects can be difficult but Oracle Consultants makes it easy because we have all the right lender contacts to meet our clients’ needs.