How do you go about creating a business plan?
I am working on web project. I need to create business plan for it. What are the factors I should consider while writing it? Is there a template that I can refer to?
I've used "Business Plan Pro" by PaloAltoSoftware several times. They claim to be the #1 Best-Selling Business Plan Software. I'm not sure about that claim. But I have apprecated that they include over 500 sample business plans and over 9,000 industry profiles. Both are very helpful. They also have a product called "Sales and Marketing Pro." I did not find it to be as useful. Having worked as a marketing professional for 30+ years, I may be too critical. Business Plan Pro ranges in price from $99.95 to $159.95. They also have LivePlan - an Online Planning a tool for $19.95 month. Either way this is a lot of money, but if you are using your Business Plan in your search for capital it may be worth it.
My favorite choice today is Docstoc.com. Docstoc hosts some of the best quality and widest selection of professional documents (over 20 million) and resources including expert videos, articles and productivity tools to make every small business better. Pricing is just $3 month or $10 year. A real bargain given the quality.
I took an online class by Jason Nizar of Docstoc "fame" on how to start a business and he said something that that really impressed me..."when times get tough what keeps you going is having a big WHY." Are are the reasons for doing what we are doing strong enough?
- The Pragmatic Web Designer
Is it a business plan or a business operations plan you need? A business plan is typically used to get loans for a business. A Business operations plan looks at the entirety of your business operations and helps you map out the processes needed to make it run successfully. If you need the latter, please consider contacting me.
Please study and fill Sagheer Business plan :
(0) Market re-search………………………….why?
(1) Market re-search……………………………what?
(2) Market re-search…………………………..How?
(3) Title or name …with respect to name, with respect to business, with respect to location, with respect to era.
(4) Motto…with respect to business.
(7) Mission Statement.
(8) Vision Statement.
(9) Location……with respect to positive and negative aspects.
(11)Finance……..Fix and Running.
(12)Finance Management……with feasibility report in the form of chart.
(14)Business Flow…with the help of flow chart.
(15)Mathematical Model of Production…with cost estimation method.
(16)Promotion Strategy ……..with Probability or regression model.
(17)Risk factor…with your weak points (S (strengths) W (weaknesses) O (opportunities) T (threats) Analysis).
(18)Role of Technology.
Focus on the target of your plan..what do you need to get from it.
After locating the templates and other good resources mentioned in the other responses, I'd suggest starting with the financial projections. Although this can be a difficult place to start, it then makes the writing of the rest of the business plan much easier since the projections require you to think through issues like who is your target market, competition, and how you will access the marketplace.
Put your Objective, Challenge, Strategy and Tactics of your business in your business plan. Empowered them with timeline and cost estimation ( budget ). Good luck.
You have to include this important factors:
1. Strengths and weaknesses
2. Opportunities and threats
3. Vision for the next 10 years
4. Expenses budget
5. Business model and beak-even
5. Profit and loss statement
6. Investment required
7. Sales budget
8. Unique value proposition
9. Cash flow projection
10. Goals for the first year
11. Key actions required to meet the goals.
Hope this helps
This could help at a start up level
Dana provided a great site. Though I have to ask, are you sure it is a business plan you need? As you state you are working on a web project...which indicates a project plan..not a business plan, which is done as an overall view of a business (company) not of a project.
If I am misunderstanding, and it is a biz plan you need, Dana provided a great source.
I suggest having a look at "Writing a Convincing Business Plan" by Arthur DeThomas and Stephanie Derammelaere, published by Barron's Business Library.
LivePlan.com or BusinessPlanPro software has the templates. If you lived in the US, I could give you some great resources for help. Don't know of any in India.
If you want to do it without too much stress, come to my office and I will show you, location BusinessProCreations 3rd Floor, Whitechapel High Street, Aldgate, London E1 7RA. invest an hour of your time, and I will take you through it.
Writer of "The Power of Positive Choice"
First of all there are a multitude of software packages on how to build a business plan. However, many of these are "fill in the numbers" type exercises that do not give the typical entrepreneur an understanding of the value of a business plan. A business plan is a story about how you are going to get from where you are to where you want to be with an explanation of the strategies you are going to use to get there - quarter-by-quarter, and year-by-year. The most important input to a business plan starts with a thorough break-even analysis for the first year of operations. For example, how many bagels or pizzas do you have to sell if you open a bagel shop or pizzeria, just to cover your start-up and operating costs before you make a profit? And, who specifically is going to buy them and why? A good book to get is: Guidebook to Planning - A Common Sense Approach, available on Amazon.
Lots of good recommendations have already been posted but I must add one more. The One Page Business Plan by Jim Horan. It is an Amazon best seller with Forward by Tom Peters. It's straight forward, brief and easy. This book will guide you to treat your web project as an entrepreneurial opportunity to be funded. Enjoy the process.
Excellent suggestions thus far.
My input...1. Keep in mind its the thinking and planning that go into a business plan that are valuable, not necessarily the end product. Many people write a plan and then don't use it and feel it was a waste of time - it wasn't. The BP makes you sit down and think through the important parts of your business.
2. I like the one page planning strategy in the link below to brainstorm the essential ingredients in the business before starting to write the detailed BP. The brain can work better when it can see all components on one page and how they are interconnected. And this strategy can help you decide if worth proceeding or your best direction before even writing all the details for a full blown plan!
I get all my clients using a one page BP. That way it is actually used and not filed away and never looked at again. And BP's change. They are a living document so keep that in mind.
Hope this helps and good luck!
Use an executive summary. Business Plans are for the file. VCs and angels invest on exec summaries. See Executive Summaries and Angel Investors from my company simplymagazine.com on audible, staples, and elsewhere. The best book on angel investors was written by Howard Stevenson at HBS. Read that first.
I'd suggest a simple 1 page template - the business model canvas (although there are lots of variants on this as well, but its a good starting point, and lots of youtube clips uploaded of people showing ho they've used it and worked through it),
but I'd also always ask are you sure you need to spend you time writing a plan, rather than going out there, knocking on proverbial doors, and getting on with things? (as a business advisor I've seen a lot of clients wasted time and energy on plans they didn't need - see http://thirdsectorexpert.blogspot.co.uk/2010/01/secret-truth-about-business-plans.html)
Hi Suraj, Creating a business plan should start with doing your research of your industry. You will need that to do certain aspects of your Business plan. If you go online you can find templetes for business plans or if you are looking for someone work with you in the development of your business plan or to discuss how to get started my company offers those services. We actually offer an Entrepreneur Kit which includes a templete business plan...I hope this helps.
Every business plan is somewhat customized, obviously, but there are basic parts that every business plan needs to have. One of the most exciting exercises any business can go through is developing a real working business plan. Basic content includes an overview of the market, an overview of competition, a description of the business and how it plans to address the market and competition outlined, a business implementation and growth plan, a marketing plan (not the same as the market overview), and financial projections. Need help? Call me, I have a template I can give you, but the real meat is in understanding and brainstorming what should go into each section for your particular business.