| How a Template Can Help You | | | | financial skill than entrepreneurs start with. |
| Using a template suited to your business sector and | | | | How to Use a Template Correctly |
| created by a reputable company, can eliminate a lot of | | | | All of the text in the template must be adjusted to |
| time putting together the outline, format, table of | | | | reflect the specific local, market, and competitive |
| contents, and, especially, financial model. Although there | | | | situation your business faces. Even general research |
| is still a great deal of work you must do, even with a | | | | which may serve your purposes should be |
| template, many hours are eliminated from your | | | | double-checked and updated if necessary. Proofread |
| preparation time with a template in hand. | | | | through the entirety of the plan and be sure to remove |
| The template provides example text for the entire | | | | comments or tracked changes when finished to be |
| plan, giving you a real sense of what the narrative of | | | | sure there is no reference that you worked from a |
| each section should look and feel like when completed. | | | | template. The result should be as professional looking |
| This gives an entrepreneur a much greater | | | | as any business plan created from scratch, if not more |
| understanding of what to do than a description of the | | | | so. |
| purpose of each section can. | | | | The financials must be adjusted as well, starting with |
| Finally, using a template rather than writing a plan from | | | | startup costs specific to your situation and research, |
| scratch should mean that you will need much less | | | | and then including the operating costs and revenue |
| expertise in accounting. Although an understanding of | | | | streams you project. Ideally, you will be adjusting a |
| accounting methods and an ability to read financial | | | | limited number of pages in the financial section, with the |
| statements will be important for you to develop over | | | | effect of these changes populating through all of the |
| time as manager of the business, creating pro forma | | | | pro forma financial statements. |
| financial statements generally requires much more | | | | |