Writing a small business plan should be guided by some standard
general principles. The plan will especially be useful when it comes to
seeking funds for the enterprise. The tone of the plan should be
appealing enough to attract prospective lenders. All the same, so much
in the content of the plan will be determined by the type of funding
that one is looking for. All this is about the target audience.
The outline of the plan needs to be standard depending on the target audience. Think through the audience carefully so that you can determine which plan to adopt. Once you are done with the outline, gather the necessary information on what should be covered in the plan. You need to describe the nature of the business, the scope, the number of years in operation, number of employees and names of partners or proprietor. If possible, also include the market growth and customer profiles.
The next bit is one that reflects on the financial position of the business. It also indicates how much the enterprise is asking for. The financial projections should be realistic and should be backed with solid data from your accountant if they are to be deemed as the correct position of the enterprise. A budget on how the enterprise plans to spend the amount acquired through the funding should also be included in this bit.
All the above details should then be captured in an executive summary. The essence is to capture the key points in each major section of the plan. Here, the payback requirements on the loan should also be highlighted. Review and edit the whole document, keeping in mind that this is the only shot you have got to make a good impression.
The outline of the plan needs to be standard depending on the target audience. Think through the audience carefully so that you can determine which plan to adopt. Once you are done with the outline, gather the necessary information on what should be covered in the plan. You need to describe the nature of the business, the scope, the number of years in operation, number of employees and names of partners or proprietor. If possible, also include the market growth and customer profiles.
The next bit is one that reflects on the financial position of the business. It also indicates how much the enterprise is asking for. The financial projections should be realistic and should be backed with solid data from your accountant if they are to be deemed as the correct position of the enterprise. A budget on how the enterprise plans to spend the amount acquired through the funding should also be included in this bit.
All the above details should then be captured in an executive summary. The essence is to capture the key points in each major section of the plan. Here, the payback requirements on the loan should also be highlighted. Review and edit the whole document, keeping in mind that this is the only shot you have got to make a good impression.
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