Import From China Business

2010-2014  Copyright import-from-china-business.com

A practical guide for starting a small business

How to Write Business Plans

Why Bother with a Business Plan?

Business Planning for the small business owner is not an optional activity. It is an essential document for applying a loan.  Who would lend someone money for a business that is only in their head?  The business plan is also  a guide to help you identify and meet your business goals.

What is a Business Plan?

The business plan has information on:

How to Write Business Plans - Steps by Step Guide

You can follow these 7 steps to a drafting your own business plan:

  1. Executive Summary - describes concisely the product or service that you want to sell, the business that you are in, and the amount of financing that you are seeking.
  2. Business Description - it further describes in detail the business, the industry, your product or service, and any unique features of the product.
  3. Market Strategies - tell the reader about the market, size and growth. What is the sales potential and what % market share will you capture? Describe the price, distribution, and sales strategies that you will use to achieve your sales and market share goals.
  4. Competition - identify who are your competitors.  What are their competitive advantages?  What are their weaknesses?  How are you going to be better than them?
  5. Product Design & Development - describe the product design and how you are going to develop the product.  Diagrams, specifications, and timelines are appropriate for this section.
  6. Operations & Management Plan - describe the structure, the people and their qualifications and how they are going to run the company on a daily basis.  What are their roles and responsibilities?
  7. Financial - you need to include income statements, balance sheets and cash flow statements for this section.

Return from How to Write Business Plans to Home Page

Return from How to Write Business Plans to Entrepreneur Advice