In order to properly startup a business you need to create a well detailed business plan and you need to follow it every step of the way. To be more specific a business plan is a document that is written and discusses the goals of the business and how those goals are going to be reached in detail and more. Within a business plan you should be able to see things from an operational viewpoint as well as a financial and a marketing viewpoint. A business plan is normally made when a business is being created but you can also use a business plan when you want to take the business into a new direction.
There are two main forms of business plans; there is a detailed one and a simple one. A simple business plan is own that does not get shown to people outside of the business, it is meant to summarize the goals of your business and what it will take to get there; it is written kind of informally. It should contain a basic description of your business, where did the idea come from and why, what your target growths for profit, growth and sales are and more. It should also contain overviews of finances and the market, how your business will operate and your projected income and more.
A detailed business plan is a lot more detailed, simply elaborate on everything covered in the simple business plan. In this plan you will also need to mention if you get a loan from a bank or have help from others. The outline should be in the following order and cover:
- Product and or products
- Keeping the idea yours
- Creating a team for management
- Marketing properly
- Operations and production
- Overview of finances
- Where the money is coming from
- What will the returns for the investor look like
Jack Clemmons from www.bestcigarlighter.net says “I remember when I made my first business plan it was exciting and stressful all at once. I know it can be hard to start and figure things out but think if like you are creating an outline for a paper you start with the topic and bring in the points to cover. With a business you have your product or service and create a foundation for it to provide to others.”