How to Write a Business Plan - Tips for Writing a Business Plan

How Could We Create a Business Plan?

There may be different reasons for different plans for different investors to invest in the business. For instance if an investor who would like to invest for a longer period may think of the reliability of the business as well as the life an demand of the business & products. It also includes the Pay Back Guarantee as well as Return on Investment; it is in the case of a bank they may first look for the repayment measures, but in case of Venture Capitalist, they may think of returns as well as EXIT policy.

The main contents of a Business Plans are as follows:

1.Cover Page & Content

2. Executive Summary

3. Business Description

4. Business Environment Analysis

5. Industrial background

6. Competitive Analysis

7. Market Analysis

8. Marketing Plan

9. Operation Plan

10. Management Summary

11. Financial Plan

12. Attachment & Milestone

How Can We Prepare a Business Plan?

The main point to be considered at the time of preparation of a Business plan is that for what purpose the plan is being prepared. It is often seen that now a days a new entrepreneur may propose at least two to three plans that could be implemented.

Elevator Pitch
The three-minute executive summary of the business plan is called Elevator Pitch. This is mainly used to promote the interest of partners, consumers, investors and partners.

Oral Presentation
This is also another way of presentation with the help of sound and Slide Shows. It also includes Graphical Presentation. If the presentation used is being for introduction of a new innovative product, then demonstration could also be taken into consideration.

External Presentation
External Presentation is mainly in concern with the investors, suppliers etc. The main negative element in concern to this is that it would be more liberal as well as not much formal. The main use of this is that it is prepared with the prime element of attracting more investors into the business. It should be as follows:

  1.  it should contain a right plan expressed in simple & brief way.
  2.  It should be in liberal & simple language.
  3.  It should be with a positive aspect.
  4.  It should show the points of Specialized Managements about the scope of business.
  5.  It should highlight the profitability points. 
  6.  It should also highlight the Professional Aspects too.

Business Plan Templates and Free Sample Business Plans
Business Plan Templates and Free Sample Business Plans

Who all can develop Business Plan?

A trained and experienced Business Consultant could develop a good Business Plan. However, it may not guarantee about the investors satisfaction. Therefore, first of all we must ensure that the Business  consultant takes in a care about the taste of the investors too. Anyhow, it is always preferable to make the Business Plans by the Promoters of the business itself. The main advantage behind this is that a Promoter may have some innovative ideas about the business that forced him to startup with this business and with his sufficient ideas; a Plan may be drawn and hence could attract investors into it.

In this modern Business World, there are several Projects as well as Project ideas, which seek for financially sound investors, but the funds available are limited and scarce. However, if the Promoter is a good presenter who can bring out his dream projects into a well furnished plan to present in front of investors, then he may get as much as fund and may not lag due to insufficiency of fund, else he may have to seek a lot of place in search of fund just like a hidden treasure. It is quite sure that a well-furnished Business Plan with a good Promoter may not Wind Up before its Incorporation.

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Comments 3 comments

Shahrukhcress profile image

Shahrukhcress 6 years ago

Nice article but i would like to share my thought that is Game theory concept should be applied when developing a business plan so that we can have a 360 degree view of the market.

wiseoldaccountant profile image

wiseoldaccountant 5 years ago from Buffalo and Orchard Park NY

I just wrote a hub on starting a business from a standpoint of what forms have to be filed. I did not touch the topics covered here because this seems to do a good job.

Kevin Peter profile image

Kevin Peter 3 years ago from Global Citizen Author

Hi wiseoldaccountant,

Thanks for the supportive comment. Happy to know that the topics covered in the hub were new.

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