Advice wanted?

[ANDREW07]

I am currently compiling a business plan, I was wondering if it is essential to go into great detail initially if you are not looking for investment? I have purchased a number of books and these give examples most of which give figures and projections on previous sales etc but if a company is only a start up it does not have this so is it best just to say these are not available because the company has no previous operating history? Or is it best just to leave this out?

[The Stealthy One]

Yes, it is certainly fine to say there is no prior business activity.

As for how in-depth it must be, if the purpose is just for you, include only the information you will need for guidance, and to gauge your progress.

[JoshH]

The great thing about a business plan is that it can be tailored to fit anyone. No matter if you are a start up or if you have been around for a while. I have found in the real world. Most people can tell if you are making stuff up about how long you been in the game and etc. Just be honest and cover the main things that are important. Don't get caught up in all the details. I know many people who have been in the game for a while and never get anywhere. They never knew where they were going before they started to walk.

I also know people who have no expeirence at all, but have a great business plan. These are the ones who most people seem to have the faith in. Just trust yourself and you'll have a winning business plan.

Josh Houghton

2nd Chance Houses
The Real Life Real Estate Blog

[bballoakie]

Try using About.com's guide on it, I have found it to be pretty helpful.

http://sbinfocanada.about.com/od/bus...ness_Plans.htm

[Young Spark]

One thing that I question a lot of the time when I'm thinking about writing a business plan is this: In a business plan, should the business plan state "We" in it (referring to the writer's business)... EVEN IF THEY ARE A SOLE-PROPRIETOR? I do it but am not sure if that "we" should be an "I" ... reason I ask is because investors (even though I am one in the making) are somewhat hesitant sometimes to a business plan that says "I" instead of "We" cause then we believe there is only 1 person wanting the money, do they want it for business or pleasure, and if business, is 1 person sure they can earn that return.

Me myself, I don't really objectify based upon that "I" --- me myself look at their vision on the plan and if their idea has a high possibility ratio.