A business plan is a document that is a critical component to the successful operation of any business. A good business plan includes a one-page executive summary, a two-page financial plan, a one-page marketing plan, and at least one page loan application. A typical business plan consists of an executive summary, which states the purpose of the company, the present and future financial situation, an overview of the competition, and an analysis of the current business plan. The other documents in the business plan template may be used as needed to provide additional information or to change the focus of the original plan. Additional sections may be required by many lenders; therefore, it is best to tailor the business plan to the specific lender that will be accepting the financing.
One of the greatest advantages in using a business plan template is that it can save money and time. When writing a unique executive summary, a business plan template is often an invaluable resource for many reasons. The most obvious reason is that everyone involved in the process from borrower to lender to board of directors, investor to financial analyst, manager to the sales person, and customer to business owner should have a clearly defined goal and incentive for meeting that goal. In this manner everyone can see the common goal and move towards it without confusion or back and forth communication on the part of each individual.
A business plan template should also include a marketing plan in its executive summary. The marketing plan describes the plans for expanding the business, advertising and selling the product or service, and attracting new customers. This section should focus on selling the product or service, building customer relations, and increasing the company’s brand awareness. Each section should have a direct bearing on each of these primary objectives. The financial plan can be more complex if there are significant investments in order to achieve the goals of the executive summary.
If you want investors to get started, your business plans often outline how the company plans to get started. Many investors are given the option to buy shares directly or through a broker-dealer. Investors usually prefer the latter because they don’t have to worry about paperwork and have more control over the company. If you want to sell shares to investors, your template may recommend that you first create a simple business plan. A good template will help you put together an attractive, detailed, and organized proposal that highlights the company’s unique characteristics and the benefits that investors will reap by purchasing shares.
When you hire an accountant or financial planner, they can provide you with a free template with sample articles that address almost every issue you face when planning to go into business. You can use the samples as a guideline or create your own unique version of a business plan template. You’ll probably need to know enough about accounting, business law, management, and investing to make the articles work. When you know enough about these topics, it doesn’t take long to write your own, and you can use it as a model for other investors. If you’re interested in learning more about the articles, there are articles available on the Internet covering nearly every topic you could ever imagine.
One of the most important keys to getting your ideas really organized is to be clear and specific about what needs to be accomplished and who you need to meet to get it done. Many investors get stuck looking at a blank page trying to put together their thoughts. The blank page can cause indecision and doubt. The more you know upfront, the easier it will be to make decisions. Don’t let thoughts gather around the edges as you try to put your best ideas on paper. A good business plan template can help you organize those thoughts and make sense of them.