Help in Writing a Complete and Successful Business Plan

The explosion of small businesses in the past decade is characteristic of free market driven, democratic republic societies like the United States of America; but also a direct result of the internet. Privately held corporations and sole proprietors have endless earning potential if they can execute the right ideas and products such that they meet a need for their consumers. Writing a good business plan takes time, diligence, research, multiple edits, constructive critique, and of course a good business idea. And while many companies offer software or other general templates to complete a business plan fast, the care taken to compile your business plan will help you in running your business overall. Imagine your business plan as several plans compiled into one whole blueprint for how your business will be formed, financed, operated, grow, and ultimately dismantle (in case of failure). It will definitely help in identifying risks, weaknesses, vulnerabilities, and other hindrances to success. Knowing about these issues beforehand will undoubtedly guide you towards more effective decision making as well.

View your business plan as 'ironing out the kinks' before they cause a problem. 

Every business plan consists of: 

• Executive Summary - What is the business? Describe your entire plan within a two pages or less

• Marketing - How will you get people interested or spread the news about your business? How much does it cost? Who is your target market? What appeals to their needs? How do they go about solving their problems? How can you position yourself in a place to grow? What Marketing Mix should you employ for maximum ROI?

• Operations & (Technology Part II)- How will your business be ran when you are there, when you are not? Workflow, management, processes .. How many staff? Working hours? 

• Financials - Are you compliant with the Generally Accepted Accounting Principles of your industry? What is an Income sheet, P & L statement? How soon will you be able to pay back a small business loan? Which method best projects your earnings within the next year, two, or 5? How will you maintain your petty cash? Payroll, taxes, net income

More details are required, of course. Appendices might show marketing surveys used to pick the proper marketing mix, or other data relevant to your financial projections. Many more posts will go into greater detail for each component, beginning with the Executive Summary and why it must be written last or how to choose the best financial model to project first year sales or gross income.

Besides the fact that you must have a business plan to get funding for your business, what are some other benefits YOU receive from a complete and successful business plan? It is difficult to embark on such a time consuming task not knowing whether you will gain anything in the process (like funding), but here are some benefits you receive from a business plan:

• Shows diligence and necessary preparation
• Allows you to address potential problems beforehand (SWOT Analysis)
• Gives you significant knowledge in how to actually run your business
• Gets you acquainted with your target market and their needs; how do you meet them?
• Exposes possible competitors and provokes you to brainstorm ways to overcome, grow, and focus on ways to make your business better
• Details every facet of your business -- even things you never thought of

Your ability to attract customers, investors, and grow will begin with the business idea foremost. But execution is what has helped or hindered many business women and men, not the idea. Proper execution requires diligence and preparation, hence the need for the business plan. 

Do not become overwhelmed at the amount of information needed to make your business plan a success. You can contact a professional to compile it, of course, but YOU must be well versed in it to exude confidence when you present it. You must be able to answer hard questions about YOUR business. Faith that it will succeed alone is not enough. 

I will post up-to-date and relevant materials needed to write a complete and successful business plan! Topics such as your competition, an adequate and plausible exit strategy, human resources issues, and much more are coming soon!

ChrissyBiz Solutions provides clients with customized, results-driven web marketing strategies. Our primary business writing duties include: article marketing,  search engine optimized web copy, blog content, social media, press releases, and newsletters  designed to drive traffic to your website and influence buyers decisions when purchasing products and services.

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