Basic Business Plans

Basic Business Plans-8
Then show them that you have the tools, talent and team to make it happen.Your business plan is like your calling card, it will get you in the door where you'll have to convince investors and loan officers that you can put your plan into action.You can also discuss current or pending trademarks and patents associated with your product or service.

Then show them that you have the tools, talent and team to make it happen.

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You can find a list of business planning consultants at

Buy a Book There are many good books on the market that will help you to understand what needs to go into a good business plan.

Here, you can address how you plan to persuade customers to buy your products or services, or how you will develop customer loyalty that will lead to repeat business.

This section can also highlight the strengths of your business and focus on what sets your business apart from your competition.

[Back to top] If you’re a startup, you may not have much information on your business financials yet.

However, if you’re an existing business seeking small-business loans, you’ll want to include income or profit-and-loss statements, a balance sheet that lists your assets and debts, and a cash flow statement that shows how cash comes into and goes out of the company. It should include a mission statement, which explains the main focus of your business, as well as a brief description of the products or services offered, basic information such as ownership structure, and a summary of your plans. Appendix Business plan tips and resources This is the first page of your business plan.You may also include ratios that highlight the financial health of your business, such as: [Back to top] This is a critical part of your business plan if you’re seeking financing or investors.It outlines how your business will generate enough profit to repay the loan or how you will earn a decent return for investors.Hire a Professional A professional consultant will create the business plan for you, but you still have to be prepared to think through your business and understand the underlying concepts in your business idea.You will have to work closely with the consultant to ensure that he or she develops a good plan that accurately represents your business or business idea.A business plan typically looks out over three to five years, detailing all of your goals and how you plan to achieve them. If you’re looking for outside funding, you can use this section to explain why you have a clear need for the funds, how the financing will help your business grow, and how you plan to achieve your growth targets.If you’re applying for a loan or looking for investors, a business plan shows you’re prepared and have fully vetted your business idea, says Craig Allen, a financial advisor who teaches business plan writing classes at Southern New Hampshire University. The key is to provide a clear explanation of the opportunity presented and how the loan or investment will grow your company.The best way to show bankers, venture capitalists, and angel investors that you are worthy of financial support is to show them a great business plan.Make sure that your plan is clear, focused and realistic.

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