Written By Discover Business
There are many articles and resources available on the Internet explaining how to write a business plan, but writing a business plan is more than merely following a business plan template or copying someone’s business plan examples. A business plan can be as simple as a few notes scrawled on a paper napkin, or it can be a 40-page document with multiple sections and subsections describing every minute detail of a company’s operations, products and finances.
Writing an effective business plan is easier if you take time before starting the writing process to conduct your research and gather the information you will need to incorporate into it. Business owners of new startups or established companies can benefit from thinking through and researching such success-determining issues as:
- Marketing strategies
- Regulatory environment
- Capitalization requirements
- Financing opportunities
From this list you quickly realize that a business plan is more than a document a business uses to get financing or to attract investors. It is a roadmap of how your business will operate in order to succeed. Before you can begin writing your business planning roadmap, you need reliable information about your industry, your competitors, your product and your customers for inclusion in it. An industry analysis, competitor analysis, product feature comparison and market research will give you the information you need.
View the rest of the article HERE.