business plans

[diane1]

Just wondering about how to set out a business plan? I know that there is lots of specialist advice but I thought I'd start with you guys first!

[willow74]

Theres some really good literature available either online or from your bank.  Lloyds tsb do a good business plan information booklet which may be worth getting.

or you could download a form from the attached website

http://www.teneric.co.uk/

[luckystrike]

It very much depends on who you are writing to for - eg, is it an internal venture, or for a bank manager or business angel?  Is it a plan for a new product, an extension to an existing line, or some else, like the management of knowledge or the protection of innovation?

Generically, I would start with a Cover Sheet, indicating who the Plan is for, and who prepared it (you!).  Possibly include a company logo, and contact details.

Follow this with an Executive Summary (written last!) as an overview of your Plan;

an Introduction including your background, aims & objectives, progress made to date, and any innovative or entrepreneurial ideas;

your Target Market, including any customers who are already secured and a competitor analysis - indeed, a SWOT analysis may be beneficial;

proposals for Management & Staff, inc. names, salaries, experience, commitments, etc.;

Operations which will be required, eg. machinery, buildings, materials;

Financial Requirements to start the venture opportunity, both 'one time' and 'operating';

Financial Projections for the first five years, inc. optimistic and pessimistic views (eg. what happens if sales are 10% less than predicted?);

any Risks & Constraints which you have encountered whilst carrying out your feasibility studies;

and a Conclusion.

 

Also check out the main banks for business plan templates, or go to the 'Invest NI' website http://www.investni.com/01buspla-2.pdf for more information.

[clementjasko]

Your business plan should be short and concise.
Know your audience. Write your plan using language that your audience will understand.
While making any plan think about the opportunity and threats as well.
Financial plans are mandatory to execute everything within budget.
I prefer to read out everything about my business at http://markcushway.tk/