http://startupsuccess.co.uk. Writing a business plan for your start-up business can be a daunting prospect but often it’s not as difficult as you expect and is essential if you need to secure investment or a bank loan to get started. A business plan has a number of other advantages too. It will focus your mind and clarify exactly what it is you want to do, as well as the steps you need to take to make it happen. It will also help you to identify potential problems and will give you a series of benchmarks to measure your success against.

1. Business Plan Writing For Startups & Small Businesses

3. Writing a business plan for your start-up business can
be a daunting prospect but often it’s not as difficult as
you expect and is essential if you need to secure
investment or a bank loan to get started.
A business plan has a number of other advantages too.
It will focus your mind and clarify exactly what it is you
want to do, as well as the steps you need to take to
make it happen.
It will also help you to identify potential problems and
will give you a series of benchmarks to measure your
success against.

5. According to Lord Alan Sugar “No bank’s
going to give you money on the basis of your
ideas.
You need a business strategy, clear plan,
balance sheet and informed backers.
No one’s going to tell you how to do it, and if
you don’t know how to do it, then stay with
the job you’re doing.
Because if you’ve not got a road map in your
head, then forget it.”

7. Business Background:
This should include the
experience and
qualifications you have that
are relevant to the business
you are setting up, where
the initial idea for the
business came from, and
the progress you’ve made
so far in setting up the
business.

8. Product or Service: Explain in clear and simple language
exactly what your product or service will be. Explain how it will
be different from other products or services currently available
and what your customers will gain from it. You can also suggest
how the product range or service offering may increase or
change in the future.

10. Industry Background: Give a brief
overview of the industry in which you will be
launching your business.
Detail any current trends or developments
in your industry that are likely to impact
positively or negatively on your start-up
business.

12. Customer Demographic: Provide a
profile of your customer including
factors such as geographic location,
gender, age, and income level.
Outline any trends within the market
segment you are targeting.
Finally list any customers that you
already have, or that have expressed
an interest in working with you.

14. Competitors: Make a list of your main
competitors along with their strengths
and weaknesses.
Explain why you think their customers
will be willing to give your new
business a try instead, and consider
how your competitors are likely to
respond to losing business.

15. Sales and Marketing: Detail the
planned process for selling your
product or service, for example
will you sell online through your
own website or will you sell face-
to-face from a business location?
Include prices and customer
service plans, and consider
whether you will be able to make
repeat sales.
Describe how you are planning to
market and advertise your
product or service.

17. Personnel Requirements: Outline your
management structure and the
individuals involved, along with their
qualifications and relevant experience.
If you will require employees, provide a
list of roles and the skills needed to fill
them.

19. Other Requirements: Will your
business need an office location or a
workshop?
Will you need special machinery to
manufacture your product or provide
your service?
Make a list of the items your business
will need right away, as well as those it
may need in the future.

21. Financial Forecasts: As the part of your
business plan that investors will turn to first, your
financial forecasts need to be realistic.
These are a way of translating what you have
said about your business into numbers.
You will need to include a sales forecast, a cash
flow forecast, and a profit and loss forecast.
These will provide measurable benchmarks to
measure the success of your business against.
Include any assumptions used in your forecasts.

23. Financial Requirements: If you’re looking
for a loan or investment you will need to
show how much finance you require and
what it will be used for, as well as what form
you would like to receive it in.
In addition to factoring in the finance
required by your financial forecasts, you will
need to identify any areas of risk that will
require contingency funds.

25. Although there’s a lot of ground to cover in your
business plan, it is important to keep it short and
to the point.
If you want to include supporting information
such as CVs or relevant market research you
can add these as appendices.
Ideally an initial scan of your business plan
should make investors, banks, or even suppliers
and customers, want to look into it in more
detail.