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Writing a business plan need not be an overwhelming task if you consider the following information.Before drafting a business plan it is important to understand why this document is so important to the success of your business.Describe the marketing strategy and how you intend to drive sales.
Both past financial data as well as prospective financial data will be required by potential lenders.
Include the following financial statements for the past three to five years; cash flow statements, balance sheets and income statements.
Include current and future funding requirements, how that funding will be used and long range strategies that impact funding request.
Any factors which directly impact your ability to repay your loan should be included, such as acquisitions, sale of the business in future or a buyout.
A crucial part of the business plan, the summary will basically tell readers the history of your company, where it is today and what direction it is headed; this is where you sell other on the potential success of your business idea.
Include in this section a description of the industry, information on your target market, evaluation of your competition and market test results.
Proprietary and confidential information may be part of the appendix and as such should not be easily accessed by all individuals requesting your business plan.
Creditors may need access to this information, therefore it should be available on an as-needed basis.
There are several essential elements of a good business plan according to the U. Although this is the first section readers will see, it should be the last section of your business plan written.
The executive summary is an overview of the entire business plan and will either capture the readers attention or make them lose interest before reading any further.