Some Simple Business Plan Questions..

[Neophyteinc]

Before I ask my question, I would like to say that I really appreciate how everyone on this site helps out one and another.

I pretty much wrote my business plan. I had paid for it but changed most of it up, so now I'm trying to put my final touches. So I was wondering what would be some simple yet very important things to mention in the business plan.

I have mentioned that the product is already up and running, and that I am single and have no other commitments. But what else?


Any and all Help is really appreciated.

[akula]

hi welcome to ye..

ok, so, to answer your question:
bplans, have a purpose. they are written in many different forms for many different audiences, who have different requirements and expectations.
a bplan written for a financier, is different to a bplan written for employees etc
who are you writing the plan for?

[Manny4life]

Who are you writing the plans for? A standard business plan I guess to secure funds should have everything to know about the entire business. You know how detailed the cash flow is divided; Financing, Investing, Operating (FIO) activities, that is pretty much how you plan should be. All the components for a business be it insurance, marketing, financing, loans, inventory etc should be addressed thoroughly the same way you would on your cash flow statement only that this time you explaining more often than dealing with numbers.

[lordspace]

Hi,

BP are very valuable but have you tested your assumptions first ?
Check Steve Blank's blog for some nice ideas.

[Alexishost]

You should mention the vision and profitability of your business, Competitor and your Strength that make you unique.

Here are some suggested topics you can tailor into your plan:

* A Vision Statement: This will be a concise outline of your business purpose and goals.

* The People: By far, the most important ingredient for your success will be yourself. Focus on how your prior experiences will be applicable to your new business. Prepare a résumé of yourself and one for each person who will be involved with you in starting the business. Be factual and avoid hype. This part of your Business Plan will be read very carefully by those with whom you will be having relationships, including lenders, investors and vendors. Templates for preparing résumés are available in your library, Kinko's, bookstores and the Internet under "résumés."

However, you cannot be someone who you are not. If you lack the ability to perform a key function, include this in your business plan. For example, if you lack the ability to train staff, include an explanation how you will compensate for this deficiency. You could add a partner to your plan (discussed in Section 4) or plan to hire key people who will provide skills you don't have. Include biographies of all your intended management.
* Your Business Profile: Define and describe your intended business and exactly how you plan to go about it. Try to stay focused on the specialized market you intend to serve.

* Economic Assessment: Provide a complete assessment of the economic environment in which your business will become a part. Explain how your business will be appropriate for the regulatory agencies and demographics with which you will be dealing. If appropriate, provide demographic studies and traffic flow data normally available from local planning departments.

* Cash flow assessment: Include a one-year cash flow that will incorporate your capital requirements (covered in Session 8). Include your assessment of what could go wrong and how you would plan to handle problems.

* Include your marketing plan and expansion plans.



Good Luck

Before I ask my question, I would like to say that I really appreciate how everyone on this site helps out one and another.

So I was wondering what would be some simple yet very important things to mention in the business plan.

I have mentioned that the product is already up and running, and that I am single and have no other commitments. But what else?


Any and all Help is really appreciated.