Ten things to do before writing a business plan

Before writing a business plan, it is best to undertake some research to help you develop the various sections in the plan. Before commencing with your business plan, make sure you understand the sections that are required, the purpose of the various sections, and the objectives of the plan. (1 day ago)

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4 Responses to “Ten things to do before writing a business plan”

  1. If you have never written a business plan before, then get some help from a business consultant.

    However if you insist on writing your business plan alone, then at the very least buy some business plan software.

    Failing to plan is a huge mistake, but under estimating the value of good advice and missing out on the benefits of available tools is a shame.

  2. I am seeking some information on the most effective way to get funds for growing my business. I have put together a business plan and some forecasts if you have any advice about them let me know…

  3. Potential investors would probably want something clearly explaining the benefits to them. A “why invest your money in this business?”. What is the potential return to investors etc.

    Do not just focus on your needs.

  4. Also potential investors would not understand the competitive landscape as well as you do. Showing your investors that you completely understand the competition and do not have naive thoughts about how “easy” it would be to acquire new customers would benefit you well.

    If you are starting a retail operation, one of the first questions to answer for potential investors is how close is the nearest competion. And by the way, who are all the existing competitors and why are we better?

    Do that and you will find money for your business