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Write A Business Plan

Louise Said:

Are there certain businesses for which it is impossible to write a business plan for?

We Answered:

The companies you mentioned -- film companies and social networking sites -- actually have detailed financial plans. Why? Because they all have investors, and investors first look at the business plan

They estimate the financial data, benchmarking it with other industries. They do a lot of projections, making sure that it covers all variables and realistic or believable enough not to raise the eyebrows of the knowledgeable investors. Some even conduct surveys to have solid data backing them up

If you want investors, you'll come up with a business plan -- whether it is easy or very hard to do

Darlene Said:

can someone write a business plan for me?

We Answered:

Yes, there are people you can pay to do this. There's also free help available for writing plans. If you're in the UK, Business Link helps with the format of the plan.

If you're not applying for funding, your plan doesn't have to be overly complicated. It needs to set out how you've reached where you are, what you're planning to do, who you'll do it for, how you'll do it, how you'll find your customers, what you'll charge them and how many of them you think they'll be and whether there will be lots of repeat business or if you'll need to keep finding new customers.

Provided the costs of doing what you're going to do are exceeded by the sales you expect, you probably have a viable business. You also need to take into account who your competitors are, how they do what they do, what they charge for it and what makes you different from them.

Good luck!

Eric Said:

What tense should a business plan be written in?

We Answered:

You can write the plan in the first person or the third person. Just be consistent...one or the other. Don't switch back and forth between them.

Use the present tense if you're describing things you do now. Use the future tense to describe things you want to do.

By the way, don't use contractions. Say "we are," not "we're."

Catherine Said:

I want to write Business Plan?

We Answered:

Here is your agenda:
Go to iplanner.net and sign up for a free "Basic" service plan. Make sure to select the "SBA" or "Basic" business plan template (the most simple ones).
Next, get started with your narrative and numbers.
Invite more members into your team, like a CPA, partners, advisers ("My Team" section).
If you feel unsure, go to "Help and Updates" section and pick one of our business coaches to help you.

Discuss It!