WHAT IS A BUSINESS PLAN?
A business plan is pretty much what it sounds like – a plan for your business that allows you to look ahead and plan for the future, and see where your business is going. It’s vital to the success of any business, as a business can’t progress if you haven’t thought about how to get there.
A business plan contains information about the structure of your business, your product or service, your finances, growth potential, your customer and your place in the market.
The most important things you need to consider when writing your business plan is what you want to achieve with your business and how you intend to realise that, and will need to have a clear strategy in place to get there.
If you intend on using your business plan to secure investment, you’ll need to include other things to attract potential investors. Make sure that you include how much investment you’re looking for, how much ownership you’re willing to give them, and what you intend on doing with the money. Bear in mind that investors want to invest in growth, so make sure you specify how you’re going to achieve that with the money.
Investors also like to know who else is involved in the business, and if you’re planning on needing any further rounds of investment make sure you include this in your plan as well. You’ll also need to show that you have a clear exit strategy in place for investors to secure their return – if they can’t see how they’re going to get their money back, they won’t invest.
As you can see, a business plan needs to include a whole lot of information, not only for your own guidelines but to attract potential investors as well. It’s essential to the success of your business, so make sure that you spend time on it to make it perfect.
About the Author:One of the best websites in this regard is entrepreneurinvestornetwork.com.au, which aims at uniting angel investors looking for business investments in Australia with budding entrepreneurs in the country.Log on to the website today. You will not be disappointed.
Article Source: ArticlesBase.com - WHAT IS A BUSINESS PLAN?