When you are starting any business, you will need to have a plan of all that the business will entail. Writing a business plan is often a difficult task for many especially those who want some funding from investors or banks. It is however as difficult as many people would imagine and following the following simple business plan format will prove that to you.
A simple business plan format should basically consist of the business description, the objectives, mission and vision of the business, the marketing plan, the financial review and a simple conclusion. Let us elaborate these key points a little further.
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Business description
This details everything about the business. It should give details about what the business name will be, what products or services that the business will be dealing with, where it will be located and how it will be managed.
Objectives, mission and vision of the business
Here you state the objectives of the business in measurable terms. This is what the business seeks to achieve in the short or long term basis. The mission of the business explains the purpose of the business while the business vision gives a picture of where the business will be in say three or more years in terms of the products it will be offering and its size by then.
Marketing plan
This is very crucial and should be given much time and consideration. It should give details of how the initial market research will be done, the marketing strategies that will be employed and the cost of all that.
Financial review
This should outline all the financial processes and requirements of the business. This is where you state how much initial capital the business requires, detail how the funds will be used and how the income is expected to stream in.
Conclusion
This is simply summing up in a few sentences what the business plan entails and making mention of any details that might have been left out in the main body. This should be smooth flowing that leaves the reader with a clear picture of how the business will be such that they can even visualize it.
This business plan format is a simple one but much more details can be added as you feel is necessary. However, the points highlighted in it are the key points that should not miss in any format.
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The Right-Brain Business Plan: A Creative, Visual Map for Success Overview
Do you dream of making a living doing what you love but find the process of creating a viable business plan like trying to fit a square peg into a round hole? Jennifer Lee knows what it’s like to make the entrepreneurial leap — and how to do it successfully. The key is using, rather than stifling, imagination and intuition. Lee’s illustrated, colorful worksheets and step-by-step instructions are playful yet practical, transforming drudgery into joy. They’ll enable you to define your vision and nail down plans for funding, marketing, networking, and long-term strategy.
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