Writing the Business Plan

Reasons, issues, advice, structure

Purpose of the BP

• Strategic planning document

• Checklist document

• Fund-raising document

Technique and planning

• 1/4 for preparation, 1/3 for draft, 1/3 or more for revision (in time)

• Settle upon desired outline form

• Begin gathering support material for each major section .. in each section

• .. list all things that you intend to present,

• .. then organize them into a sub-outline

Revision

• The quality of revision heavily depends upon quality of criticism.

• Leave 1/3 of the text unaltered

• Modify lightly another 1/3

• Throw 1/3 away

• Add new material

• This will take more time than the original draft

The general “Bangs” format

• Executive Summary

• Description of Business

• Description of Product/Service

• Market

• Sales Strategy and Intentions

• The Competition

• Management

The general “Bangs” format (cont)

• Personnel and personnel needs

• Funding requirements, applications, etc.

• [Financial section separate on all of these plans .. they are the third component after the executive summary and main body].

My preferred format

• Executive Summary• General Description of Business• Management Team• Description of the Market• Detailed Description of Products/Services• Marketing/Sales Plans and Budget• Competition and Risks • Future Plans and Financial Needs

A third format (weak team)

• Executive Summary• General Description of Business• Detailed Description of Products/Services• Description of the Market• Marketing/Sales Plans• Competition and Risks• Management Team• Current Financial Status and Future Needs