| Starting a business plan is a detailed process that is | | | | but is not nearly as reliable and printed publications. Be |
| both revealing and educational. To get started find a | | | | sure to use a good mix of reputable website research |
| good business plan example and decide what the | | | | along with solid facts and industry statistics commonly |
| purpose of your plan will be. For existing businesses it | | | | found in printed books. Industry publications and |
| is an opportunity to re-evaluate profit margins and | | | | magazines are a great way to get the latest news |
| focus on successful areas of the business while | | | | and trends in a reputable place. Include research from |
| cutting out the departments that are not profitable. For | | | | industry publications as well to enhance your plan and |
| business plans in start up companies it is an opportunity | | | | build credibility in your due diligence. Always be sure to |
| to really focus on, and understand the industry and | | | | cite your research or any quotes you may use. This |
| evaluate whether your shiny new opportunity will be | | | | will also build credibility while ensuring you are not |
| successful before you make an investment of time | | | | infringing on any copyright protections of the content |
| and money. | | | | you use. To quickly and easily cite your sources there |
| Although up to 44% of new companies survive 4 | | | | is an online tool that you can use to enter in your info |
| years or more the success of any new start up is | | | | and get back the properly formatted entry for a |
| based on proper planning and projection, capital | | | | works cited page. It makes the process a breeze: |
| resources, and good business management. | | | | 4) Find a Good Business Plan Example Template |
| Here are the top 5 tips for creating a killer business | | | | Now that you have countless articles and notes, |
| plan that will undoubtedly impress any lender: | | | | market information and statistics it is time to put it all |
| 1) Don't Skip the Research | | | | together in a format that will highlight the research you |
| Creating a solid plan is the very first step in knowing | | | | have compiled. Finding a business plan example |
| your industry and understanding what it will take to be | | | | template can be a challenge as every plan is different |
| successful in your chosen field. Part of creating your | | | | (see point #2 above), however you can create your |
| plan should be to evaluate the competition, refine your | | | | own based on a combination of the different areas or |
| business strategy and begin to understand if your | | | | topics you want to cover. If you want something that |
| value proposition meets a tangible need in the | | | | is already formatted with sample headings and the |
| marketplace. Going through the steps of creating a | | | | different categories already setup use a small business |
| business plan is an invaluable process that will help to | | | | plan template similar to the one found here. It offers a |
| ensure that your business will be able to survive the | | | | real business plan example in Word format for easily |
| market trends. Don't pay someone else to do this part | | | | changing out headings and information. In addition the |
| for you or it may end up costing you more than you | | | | plan comes with a break-even analysis template in |
| think. | | | | Excel as well as a 1 year Pro-Forma in Excel with the |
| 2) Consider Your Audience | | | | formulas in place for easily updating and projecting |
| Business plans are created for many different | | | | costs for the year. Finding a business plan example in |
| reasons. Will it be for presenting to a board for project | | | | Word format is a big time saver and an easy way to |
| approval? Will it be to submit for funding? Is it simply to | | | | quickly get the startup business plan document |
| re-evaluate the business and profitability? Each of | | | | underway without starting from scratch. |
| these areas will require adjustments to the plan format | | | | 5) Talk to Industry Experts |
| and style you choose to use throughout the document. | | | | Finally, once you have compiled your research reach |
| Find a good business plan example to use as a | | | | out to some industry experts like local college |
| starting point to help focus your project. If you are | | | | professors, trade show organizers, or even the local |
| trying to get funding then you will need to have very | | | | Chamber of Commerce for some feedback and input |
| detailed cost and ROI projections that are realistic and | | | | on your plan. It always helps to get a critical eye on the |
| measurable. If you are presenting to a board or | | | | plan before making the final presentation. Having one |
| non-profit it is likely that you will need to include a focus | | | | or more people review the work will shed light of |
| on community impact or involvement and impact | | | | areas that may be lacking or confirm that the business |
| (either positive or negative) to the existing organization. | | | | plan is ready to present. |
| Keep your audience in mind as you create your | | | | Don't get caught spending too much time figuring out |
| document to ensure you hit the right points and leave | | | | the Table of Contents, Works Cited or overall plan |
| no questions unanswered. | | | | formatting. Use a small business plan template or other |
| 3) Use Quality Reference Material | | | | resources that are readily available to you and spend |
| It is important to use a good mix of reference material | | | | your time focusing where you should, on the research |
| in your plan. The internet is great for up to date news | | | | and presentation of your business idea. |