A business plan template can be used to create a business plan template that is designed for use in business plans. A typical business plan consists of only a single document divided into many different sections, which include a detailed description of the company, the industry, a description of the individual business aspects, a comprehensive analysis of the market, sales forecasts, management information, and financial facts. A well-prepared business plan can help facilitate networking between business leaders, investors, and potential customers. This allows a business owner to develop business relationships that may otherwise be difficult to obtain.
One of the best ways to organize information for a standard business plan template is to list the most critical aspects of the company first. These should include the name of the company, the purpose for which it exists, who is involved in its management, its business model, and what marketing programs are in place. Other important aspects of any business plan, including those listed above, should then be followed by information on financing, assets, liabilities, working capital, and business operations. The standard business plan template will often provide space for subtopics such as expansion, financing, management, operations, marketing, research and development, and executive summary. The blank page can then be filled in with the specifics of each section. Often, a business plan template will provide blank columns for the different types of entries, but the best way to create the information required is to enter it in the appropriate cells.
A business plan template can be an invaluable asset when it comes to preparing a more thorough version for use at the negotiating table. However, even the most well-planned presentation can fail to accurately represent reality if the key facts are not known enough to participants or decision makers. For example, if funding is a major issue during the process, a free template might indicate that venture capital is available, when in fact very little funding is actually available. Similarly, even the best way to arrange a list of potential partners might lead to an inaccurate list if too many of them are unavailable or unwilling to participate. These issues can be resolved by knowing the full range of partners one wants to work with before approaching potential funders.
Another important thing to consider is how much detail should be provided in the executive summary. If the executive summary is to be used as a proposal for the business plan template, the 1 problem summary should include a couple dozen paragraphs of highly relevant information on the company, its history, and the unique characteristics that make it stand apart from other businesses. The outline should be written in a clear and concise style. Writing it in this way makes it much easier for the prospective partner to understand the inner workings and operational plans.
One more aspect to consider in using a business plan template is whether or not it contains an option for investors. If it does, the outline should have at least a couple of investment estimates, preferably drawn from independent financial institutions that specialize in funding small businesses. If it doesn’t, then the investor would need to provide additional information to the potential funders so that they can decide if it makes sense to back the venture. For instance, if the business plan intends to acquire a particular technology, the financial modeling would need to include an assumption of the likelihood that the technology will be successful and will make the investors money.
As you can see from this brief overview, there are a number of things to consider when utilizing a free business plan template. When working with the free template, be sure to look at the options laid out for potential investors and choose one that works well within the framework of your overall business plan. Do not use templates with overly complicated procedures or information because it may prove too difficult for the potential investors to follow the suggested ideas. Also, when presenting the executive summary and the other information needed to solicit funding, do not overly simplify the process by giving only a part of the story.
