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If you would need to obtain financing from third parties either now or in future, then a business plan is indispensable, as it sells your idea and elucidates the opportunities it presents.It arranges strategic alliances, attracts key employees, boosts your confidence, and helps you remain focused.Whoever said you don’t need a formal business plan to start or expand your business was certainly not addressing those who need funds from creditors and investors.
In fact, I don’t need to look into a book or tablet to do a business plan presentation to investors or lenders; I will just talk off-hand without memorizing or rehearsing anything. The reason is because I wrote the business plan myself.
Yea, I may work with an accountant or attorney to get the technical facts I need but the bulk work will be done by me.
Why I Wrote this Small Business Plan Guide Over the years, I have met different individuals with brilliant business ideas roughly sketched on paper.
But when I asked these individuals of their business plan, the usual reply I get is this: If you have ever bore any of the thoughts above in your mind, then you are the reason I wrote this e Book.
If you are just starting a business, having a well-written business plan shows that you have really done your homework.
And if you are planning to expand an already established business, it demonstrates that you have carefully considered the pros, cons and odds; and focused on the development of the business.This is the level I want you to aspire to, especially if you are just starting your first business.Who I Wrote this Business Plan Guide for I wrote this e Book for three set of individuals: Now, let’s go into real business…The cover letter, title page, table of contents, and executive summary make up the opening section of your business plan.The following are what to include on your title page: A Sample Business Plan Template Many people only dream of building a business empire; others dare the consequences and take the leap into the business world.Statistics reveals that 90% of all businesses started fail in their first five years.I want to take the stress of writing a business plan away from you and most importantly, I want to teach you how to write your own personal business plan without hiring anyone. Yes, the reason I called it a personal business plan is because a business plan should be personal.A business plan should not just be a file or document, it should be your dream in written form.If you are risking your capital, time, resources and effort to start a business; then you certainly need a business plan to help you mitigate against the risk involved.If you are already a business owner but you started out without a business plan, then you definitely need to invest in getting a business plan; especially if you want to take your business to the next level.Because your goal is to market your idea to prospective investors, creditors, partners, employees, and other stakeholders, all the parts of your plan must appeal to the reader.Here are the elements that you need to include in the cover letter: The Business Plan Title Page Remember, you will never get a second chance to make a first impression.