A business in the start-up phase certainly needs a sound business plan. A business plan may help the owner(s) to take stock of the current situation, and to set a direction for a further course of action. It may, for example, be necessary to raise funds from a bank, or other investors, in the initial stages of an enterprise. In such cases, a good business plan may help you establish the credentials and capability of a business with a lending institution.
Elements of a Business Plan
An effective business plan should have all, or most, of the following sections:
An executive summary ? usually a brief summary, in one page, of the business plan. Anyone who reads the document is likely to read this section, at least, so you should devote special attention to making it interesting, and readable, while conveying the key points of the plan. If you can produce a snappy ?one-liner? that sums up the content, then do so, to catch the attention of your reader. If there is a requirement for funding, say so, in specific terms.
A sales summary ? explaining core products, or services, and their benefits to your target clientele.
A technical explanation ? describing products, and their applications, and what benefits they bring to customers who use them that make them worth buying. Potential customers, as well as investors, want to know that it is profitable to do business with your company.
Your business objectives and targets, over the next year, or two, or three. Turnover and staffing projections can also be included in this section.
Writing Skills
It is important to develop your writing skills, especially if you want produce a well crafted business plan that will impress your reader. Aside from being absolutely correct, in spelling, grammar and punctuation, your document should be free from unnecessary jargon. Use short, crisp sentences that convey the message effectively. The executive summary should be written last, although it should appear at the beginning of the business plan. Focus on the key points, and on relevant, and significant, issues. To lend a business plan a professional touch, provide a contents page and number the pages.
Conclusion
A professional business plan marks you out as an efficient and competent person, and shows the organisation you represent in a favourable light. Similarly, an effective, and well presented, plan will impress senior managers within a company, potential clients, other stakeholders and lending institutions.
Why? Well, you realize it's time to do something with your life besides working for someone else. You'd like to be your own boss. You'd rather line your own pockets than your bosses'. And, to be honest, you wouldn't mind working from home in your pajamas if you wanted to.
Thousands of folks just like you have gotten excited about running their own home-based internet business either full-time or part-time. They're doing their homework. They're investigating the dozens of internet business plans that are floating around.
And they've also discovered that there's a lot of hype. You know, those get rich quick schemes. Or programs that are so automated you don't have to do anything to get wealthy. Or maybe they're promising you the world if you'll just sign up right now. Or let your downline do all the work.
But not all of them are what they seem to be. In fact, there are 4 blunders that some home-based internet businesses just won't own up to. Here's what to look out for.
1. You must make a final decision now . . . no recourse . . . no guarantees . . . no money back if it doesn't work for you.
2. It's so simple a child can do it. No effort required. Everything's automated for you. Sit back and watch the money roll in.
3. This offer will never be repeated. This is the only plan of its kind. If you pass on it now, you'll regret it because it will never come around again.
4. Hidden add-on costs. The initial small investment is only the tip of the iceberg. Once you get into the program you're suddenly required to make more and more investments to make the plan successful.
Look, the point of this exercise is to make sure you take your time to investigate each opportunity. Put it to the test. Check it out to make sure it's scam-proof. Is there a verifiable track record that participants can actually make good money within a reasonable time?
And make sure your willing to follow through and follow up. There is no worthwhile business in the world that doesn't require some time and effort on your part. Of course, there are some stunning advances in internet business technology that can make your effort a lot simpler. And significantly reduce the time you must wait till you see a cash flow.
So, congratulations if you're serious about making your move into you own home-based internet business. And welcome to one of the most exciting and lucrative business ventures in the world. Do your homework. Do it smart. And you can join the ranks of thousands of other success stories!
Both Hugo R Brin & Paul Megan are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Hugo R Brin has sinced written about articles on various topics from Real Estate, Pilates Exercise and Business Plan. Hugo Brin is an independent writer and researcher on financial and business subjects.See additional information on a