Writing a business plan

Let’s Talk Business Starting a Business Writing a business plan

  • Post
    Madison Polk
    Participant
    Does anyone have any tips when it comes to writing a business plan. I wrote one before but it was a long time ago and I have used google, but there are a lot of different answers. Is there just a basic structure that people normally follow?
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    Alice Fowler
    Participant
    Oh a place I would start is https://www.sba.gov/business-guide/plan-your-business, that site was my go to when I go started looking into writing my own business plan!
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    Jayson Wynter
    Participant
    Oh that business guide from sba was a great tool! But honestly I googled companies similar to mine in order to see what they did
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    Akshay M
    Participant
    Important sections for a business plan? I would say…

    1. Research and Marketing Strategy

    You present your case about the opportunity available and why you, your team and your business are going to be best positioned to take advantage of this opportunity. Do a SWOT (Strengths, Weakness, Opportunities, Threats) Analysis.

    2. Operations, Business Model, Law and Regulation

    You detail how you make your money. Detail all items you need to run, as well as how you expect to generate revenue over a period of say a year, 2 years, 3 years and 5 years, if you can. Cover legal and regulatory requirements.

    3. Financials: Budgets and Projections

    Detail what costs you incur over time and your projected returns over time. Generate the Balance Sheet and Profit and Loss Statements during those time periods. State the assumptions you are making. Justify why those are reasonable assumptions to make.

    If you need big capital and need to attract big investors, it would probably be good to do some financial analysis on those projections to help prospective investors compare your business as an investment with other alternative investments.

    Hope this helps.

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