Do you need business plan support? Writing business plans can be extremely difficult but fortunately there are lots of tools and consulting services that can help you. This can all start at your local library – there is no shortage of books on business start-ups, incorporation and funding requirements, and the business plan itself. Retired business executives volunteering at local SCORE offices can give you guidance about how to get your business plan started or, if you're further along than that, pointers on which sections you might need to improve before going to the bank or seeking out private investors. Research tools online that you can access for free include Manta, the U.S. Census Bureau (useful for population AND business stats), and archived articles for business publications, available through targeted Google or Yahoo searches. No matter what stage of business plan development you are in, remember the most vital components of the plan's presentation:
1) Always include a full executive summary that recaps every important element in the plan
2) Identify your target market carefully and support it with research
3) Highlight your chief competitors and give as much strengths/weaknesses information about them as possible
4) Delineate the central aspects of your marketing and implementation strategy and describe your competitive differentiators
5) Describe your executive team and your personnel plan in detail
6) Provide a complete financial pro forma with cash flow, revenue, break-even, and P&L/balance sheet projections for 3 years (bank plans) or 5 years (investment plans)
From exit strategies to SWOT analyses to target market segment strategies, business plans are tough to write well. They have a lot of working pieces and the components all need to agree. There is a lot of support available to you from the Internet, the U.S. government, and volunteers with business experience, but the onus is still considerable if you insist on writing your own business plan. Another approach is hiring a consulting firm that can handle the entire process for you – that's what MasterPlans.com does. We have been assisting start-up entrepreneurs since 2002 and have a track record of success second to none. Call a consultant today to get the best support available! 877-453-2011.
