If you are going to start a business you need to create a business plan of some sort. You need to plan your business whether it is a small home based business, online or offline, or a new business with big aspirations. But you may not need a formal written business plan. Some of the best businesses have evolved from a plan scribbled on a paper napkin or a drinks coaster.
However if you need to get finance for the business a strong business plan is a good idea. You may decide to allow close family to look at your business plan If they need reassurance that you know what you are doing.
How do you create a business plan?
Start by downloading a business plan template that is appropriate to your country. Here are links to an Australian template or a US template. Although parts of the template may not apply to your business, it can provide a good starting point. You will find many business plan templates online.
Decide on your business plan’s objective. This will help you decide what type of information needs to be included. If you are using your business plan to raise capital then you will need to include financial information about your business. [Read more…] about How To Create A Business Plan In Nine Easy Steps