How to Write a Business Plan
By: Jeanette Mulvey, BusinessNewsDaily Managing Editor

While it may sound complicated, a business plan is nothing more than an organized outline of your idea of how your business is going to function. And experts agree: you need one.

“A business plan is like a road map,” explained James Jacobs, the retired president of a Dallas-based financial services firm and a SCORE (Service Corps of Retired Executives) advisor. “It’s a road map that helps you identify where you want to go and how to get from point A to point B.”

A business plan should include a variety of pieces and some will be more detailed than others depending on the kind of business you’re running and your reason for writing the business plan.

There are certain pieces of the business plan that are must-haves:

The 7 Sections of a Business Plan

By Linda |

If you really want to improve your business, the best way to do it is to write a Business Plan. It is not the plan itself that is so important, although it is a valuable asset but the process as it makes you really think about the business and focus on the way that you will operate and grow the business in the future.

There are seven key topic areas in a good business plan as follows:

1. The Executive summary

Although this is at the beginning of the plan, you will write it last as it is an overview of the entire plan. Most banks will read it first or use it when considering future funding so ensure that you have the most important points of the plan written well. Include rationale for needed financing and how this will be used, the growth you will expect as well as the products and services that you provide and staffing required. Remember, you are writing this for someone who may not be familiar with the details of your business so be clear and and comprehensive but also keep it brief so the reader is not bored. Seguir leyendo “The 7 Sections of a Business Plan”