Trying to work with a recycled business plan? Hey, use what you can get your hands on! In all seriousness, if a template is what you're after, you can do a lot worse than working from an old plan. If it was a good document in the first place, it can give you insights into what research sources are strong, what sort of analysis you need for competitors, what market trends are notable, and what the financial model should look like. It won't be any substitute for the real thing, of course, but it can furnish some helpful information on important elements of plan layout, content, and style. No matter what, remember that your business plan should answer all of the questions below:
• What are the objectives you aim to fulfill each year?
• What is the market need your business concept meets?
• Who are you selling to?
• What companies or technologies will you be in direct competition with?
• What are the other threats or risks that your business will face?
Your plan will also need its own original market research, so try to get your hands on industry publications or publicly-available sources of information that help show a solid market opportunity. What trends play to your favor? Which competitors might be losing market share? See what customers seem to think online, and probe free intelligence sites like Manta for details. Your plan will also require a financial model, of course, which you will need to build from scratch. Ultimately, to arrive at a revenue forecast and a reasonable set of expense projections, you'll have to do some solid research and develop some comfort with Excel or software. Want to call in the experts? MasterPlans has worked on business plans since 2002 and has delivered more than 9,000 plans to date. Call today to learn more! 877-453-2011.
