Decide why
youre writing your plan. Is
your focus raising money, launching a new
venture or finding strategic partners?
Begin by preparing a short paragraph,
much like a mission statement, outlining
why youre writing a business plan.
Refer to it frequently to keep motivated
and focused on the message you wish to
convey. Do
your homework. Before
starting your research, take a look at
all aspects of your business plan to see
the big picture. Read a few books on
business plans. Look at Web resources,
such as the Small Business Administration
(SBA) business-planning outline. Get a
feel for what a business plan is, what it
isnt and what those who read it
will expect.
Then prepare an outline of the major
sections and subsections you think should
be included.
Compile
your information. Dig
through every box, file cabinet and
computer document you havearticles,
financial statements and press releases.
Dont rate the quality of the
information at this stagejust
gather it.
Start
typing. Write down all your
ideas, notes and questions for each
section of your outline. Approach it like
a brainstorming session, jotting down
ideas that demand further consideration
or input from others. Then arrange the
sections in the most logical order.
Write
a rough draft. Turn your
outline into complete sentences and
paragraphs. Then print out a copy and
read it through a few times, revising as
you go. Youre halfway there.
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Do more
research. Build your case
with data that supports your assertions.
Talk to anyone who might help you collect
information, such as a local SBA
representative, and look for resources on
the AICPA Web site (www.aicpa.org)
or that of your state society. Track down
annual reports, and request product and
service information from your business
competitors. Think about the
numbers. Begin developing
pro forma financial statements: This
allows you to match and support the text
of your business plan with numbers.
Write
a final draft. Bankers and
investors will assume youll protect
their money with the same level of care
and attention you put into your business
plan. Check, double-check and
triple-check your draft, crunching and
re-crunching your numbers to make sure
they are accurate and proofing the
grammar and spelling.
Get
feedback. Ask a few people
you trust to read your plan and offer
suggestions. Take detailed notes on their
comments.
Polish
your plan to perfection. Create
a cover page, table of contents and
nondisclosure form and a one-page
executive summary that encapsulates the
highlights.
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