Writing the Business Plan
Reasons, issues, advice, structure
Purpose of the BP
• Strategic planning document
• Checklist document
• Fund-raising document
Technique and planning
• 1/4 for preparation, 1/3 for draft, 1/3 or more for revision (in time)
• Settle upon desired outline form
• Begin gathering support material for each major section .. in each section
• .. list all things that you intend to present,
• .. then organize them into a sub-outline
Revision
• The quality of revision heavily depends upon quality of criticism.
• Leave 1/3 of the text unaltered
• Modify lightly another 1/3
• Throw 1/3 away
• Add new material
• This will take more time than the original draft
The general “Bangs” format
• Executive Summary
• Description of Business
• Description of Product/Service
• Market
• Sales Strategy and Intentions
• The Competition
• Management
The general “Bangs” format (cont)
• Personnel and personnel needs
• Funding requirements, applications, etc.
• [Financial section separate on all of these plans .. they are the third component after the executive summary and main body].
My preferred format
• Executive Summary• General Description of Business• Management Team• Description of the Market• Detailed Description of Products/Services• Marketing/Sales Plans and Budget• Competition and Risks • Future Plans and Financial Needs
A third format (weak team)
• Executive Summary• General Description of Business• Detailed Description of Products/Services• Description of the Market• Marketing/Sales Plans• Competition and Risks• Management Team• Current Financial Status and Future Needs
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