Business
Plan Outline
Business planning
involves a wide range of issues - products, markets,
pricing, packaging, promotion, staffing, purchasing
and so on. Before commencing on your business plan in
detail, start by defining an outline (i.e. a table of
contents) of your plan. This will allow you to concentrate
on the essentials of planning the business rather
than becoming too absorbed in the detail at the initial
stage.
Ensure
the content is relevant
Having devised the basic outline for your business plan,
the next task is to expand this to include subheadings
and appendix titles (see the sample plan at demo). This
extended structure needs be reviewed to ensure that
all the salient elements of the plan are included and
that it has a logical flow. You also need to be absolutely
clear about the primary purpose of the plan from the
outset and ensure that the plan is correctly targeted
at its audience - investors, directors/shareholders
or management team etc. For example, a structure that
is mainly devoted to internal development would be completely
unsuited to a plan for raising funding.
Prepare
a work programme & timetable
Once the plan's structure has been defined, draw up
a checklist and basis for a work programme and timetable
to complete the plan. This work will often entail considerable
research and thought prior to the commencement of writing.
For example, market research may be needed before sales
volumes and prices can be determined and professional
advice may be required to assess capital expenditures
in relation to the acquisition of premises and so on.
The programme could correspond to the main sections
of the proposed plan – thereby tackling each section
at a time and progressing through.
Set out target dates
for completion of sections and allow enough time to
review and produce revised drafts of the plan –
at least five drafts would not be unusual. But do not
extend the dates over too long a period (ideally limit
to two months for a complex plan, less for smaller plans)
otherwise you may be forever incorporating changes and
never get the plan finished!
Taking
advice and seeking assistance
Seek external assistance sooner rather than later. This
may take the form of software tools to use, consultancy
assistance or a mentor for general guidance. Good advice
on writing a business plan from an experienced professional
can be very beneficial. They can make your task easier
and provide some important objectivity to your plan.
They will see it as an outsider and ask some of the
challenging questions that may have escaped your notice.
You should always have the financial numbers verified
by a qualified accountant.
Outline
financial forecasts and other tips
At an early stage, it is wise to prepare an outline
of the sales and financial projections (covering 1-3
years) to explore the general direction, cost implications
and funding requirements. This should give an indication
as to the level of viability of the plan and confirm
that it is worth proceeding with it.
Write the Executive
Summary and Introduction only after the main parts of
the plan have been completed. As the Summary should
be a resume of the key points within the plan, it is
only practical to do it in the final stage.
stepbystep business
plan software makes preparation of your plan easy -
see demo
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