How To Create A Winning Business Plan

    March 18, 2004

Here’s a simple but effective way to quickly and easily develop a complete business plan.

Operating a successful business, even a small one, requires advanced planning and careful development. Without these, a business may face all sorts of unforeseen difficulties, such as struggling to find financing, not positioning products properly in the market, and not having a clear mission or vision. And that’s where a well-written, well-organized business plan comes in handy.

A business plan is a written document that outlines basic, but important, information about your company. Generally that information includes your mission statement, descriptions of the products and services you will offer, examinations of your market and your competition, and even financial projections. Additionally, business plans include details about you and your experience as well as the goals and objectives of your company.

When completed business plans provide your company with structure. It forces you to think about your products and your potential customers in ways that will make your other business decisions, such as pricing and advertising, easier. Having a business plan also lets you set long-term goals for your business as well as the steps you need to take in order to reach them. A good business plan can also help you secure a loan, win investors, evaluate growth potential, and more.

Even though these plans offer plenty of benefits, many business owners fail to create one. Owners often feel that a lengthy, detailed plan isn’t necessary for their business or they don’t feel confident in their ability to create a workable plan. However, any company can benefit from being based on the firm foundation a business plan provides. Plus, any person capable of running a business is capable of creating a business plan, especially with the right tools.

One of the best tools available is the BizPlan Builder. This software makes it easy for even someone with limited business experience to create a professional-looking, comprehensive plan. It works by providing sample business plans that are then edited and customized by users via BizPlan Builder’s step-by-step instructions.

The application includes sample plans that work for web-based businesses, service providers, retail shops, newly invented products, and even companies still in the conceptual stage. It also includes financial models, valuation methods, and a number of Excel spreadsheets that simplify the creation of the budget-related sections of the plan.

Once all the sections are complete, the program pulls everything together and compiles a finished and formatted copy that is ready to print and distribute. Furthermore, BizPlan Builder comes with cover letter templates that are useful for users needing to submit their plans to lenders, investors, or potential partners.

Software such as the versatile BizPlan Builder does make it easier for today’s entrepreneurs to take advantage of the benefits of having an effective, thorough, and professional business plan at their fingertips. It also saves them the expense and hassle of hiring someone to do it for them. Whether one chooses to use the BizPlan Builder or not, having a successful business requires having a solid business plan.

Cavyl Stewart is the author of “135 Hot Tech Tips for Small
Business Owners.” To Download your free copy, just visit: