How do you expect to be successful in business if you don’t have a clue as to where you are taking that business? If you don’t know – no one else will either. It’s like trying to build a house without a blueprint. It’s not going to work and the structure will collapse; so will your business and the dreams you had for that business right along with it.
In most cases a business plan is used to try to attract people to invest into your idea and business. It is your sales copy in effect and therefore if you create a professional, well laid out and strong business plan, people are more likely to take you seriously and to invest.
- Settings/Goals (Executive Summary/Company Description/Background) Write down all of your ideas and really sell the positive side of your character to them. The fact that you are really hard working and that you thrive under pressure. You love a challenge and can not only work well as part of a team but also on your own.
- Team Building (Administration/Management/Executive Team) Give them a brief summary of your history and what you have achieved in the past. Then show others who will help you make your business grow – they can be ad-hoc
- Making Money (Financials) These change in delivery based upon whom you request money from. Angel investors, Venture Capital and Banking institutions all want to see something different.
- Getting It Sold (The Market) Describe the market place that your business is a part of, the competition and also the opportunities for growth in that market.
- Getting It Done (Strategy & Implementation) There is also the point where you may not want financials but you will need to show how you plan to make your money and what bills you need to pay from that money.
- Making Sure (Quality Assurance) Finding out how your clients and customers feel about your brand, business, product and service is essential to fine tuning your business. This is how you grow.
- A business which is happy to stay as it is and which has no plans to expand.
- A business which is a one man band and is self-sufficient, without the need of any outside help.
- Direct sales businesses that require small initial investments – but grow based on enrolling others under you (also MLMs).