DegreeDiary

How to Write a Working Business Plan

A business plan is a document created to help the owners of the business outline how they intend to operate their day to day business activities. It is a business guide and communication tool. It tells investors, bankers and sponsors how resources can be put into a business. It would be a good idea when developing a Business Plan to evaluate the product development life cycle or software development life cycle of your goods. Also, consistently review the basics of How to write a business plan.

A business plan has a quality of living long after it has been created. It is a living document that could be changed as it evolves along with the business. It clearly communicates what the business operator intends to do, how they will achieve it, and what milestones are needed to measure performance. This is what Tom Harris talks about in his book “A Practical Guide to Starting and Running a New Business” (Springer, 2006).

Harris gives a financial model created by a team or a group of individuals with common objectives and goals, but someone has to take charge of its production. A business plan is an essential tool and requires ongoing adjustments as the business develops. It has no qualities of remaining static. Changes are made as the business discloses its operations. It is updated often as knowledge of market expands. Its ownership remains a property of the whole team.

Reasons for Writing a Business Plan
  • To serve as a tool for communicating ones ideas to others e.g. investors, partners or employees.
  • It is also meant to be a tool for guiding the business operation.
  • It forms a foundation for financing proposals.  
  • It allows assessing and measuring of performance as business progress.
  • To serve as a guiding tool in setting short and long term business goals.
  • It is for identification of strength and weaknesses of the idea.
  • It is for easy evaluation on the feasibility of business ideas.

Content of a Business Plan
There are no strict rules on what the content should contain. What is essential is presenting the best and logical step by step of ideas in your business plan. Let the story flow logically and lead your audience naturally to conclusions. Hit the nail on the head and never imitate a meandering river in communicating or giving your side of situation. Remember readers of your business plan are good time managers. They feel good when they get know what you want them to know quickly.
kosiyaefirewalls

About kosiyaefirewalls

Writer/blogger/publisher/

kosiyaefirewalls

Top Posts | Business

Tips For A Great First Impression

The job market today is very competitive and dressing for a positive impression is very important. You need to show the employer that you take the position seriously or you are wasting their time and your own. Everything counts from your hair to your shoes. The Reality of Percept ...

How to Write a Working Business Plan

A business plan is a document created to help the owners of the business outline how they intend to operate their day to day business activities. It is a business guide and communication tool. It tells investors, bankers and sponsors how resources can be put into a business. A business p ...

Thinking of the Market for Your Products

Customers are your market. Think about what problem they are facing. Find the solution to that problem and make it your business idea. The reason why customers pay you is for a solution to their problem, not because you have to something to sell but because you are solving their main problem. ...

4 Essentials Branding Steps For Your Start-up

Branding can be difficult sometimes, because there is a lot of time and money invested into it. If you have a proper plan, it can be done effectively. In this post, I am going to discuss some essential branding steps that are extremely important for start-ups. RESEARCH ...

How to Survive as an Exchange Student in Austria

Spending some of your student life as a foreign exchange student is probably just about the best thing you can do as far as your CV is concerned, and Austria is a wonderful choice of a destination.  Being removed from your familiar environment will broaden your horizons and will help you ... ...

3 Tips to Mastering Networking Skills

Every business requires the right kind of networking as it is an important part in its success. Networking does not simply mean exchanging business cards or sending a few emails; it stands for much more than that. Building a network with everyone is not easy but you can master the skill by fo ...

10 Workplace Secrets For New Graduates

Fresh graduates who have just landed in their first professional job may experience utter confusion and nervousness. This new environment will be entirely different from their university classroom. Meeting different people, learning about your new job and understanding the dynamics of a new w ...

5 Master Tips For Your Next Business Presentation

In this corporate world, presentations have become an integral part of routine office life. From discussing the highlights of the day to demonstrating the sales of a new product, you'll be required to have extraordinary presentation skills. A successful presentation is not just about crea ... ...

3 Steps to SEO Success

Many business owners think that they cannot compete in this world that is full of technology and brands. But that’s not the only important criterion. There are various factors that are responsible for a successful business organization to perform well. SEO [search engine optimizer] is o ... ...

Dress Code in the Business World

In addition to your qualifications and skills, employers consciously or unconsciously evaluate your appearance, because they want to see the representative of their company in you. You might not think that's not fair, but things just work like that. The first impression is very important, ... ...