Writing a business plan
A template can prove useful if you're thinking about drafting a business plan yourself. Sample business plans are available online for download. Alternatively, you could hire a consultant to write your business plan for you.
Business plan checklist
Either way, a business plan should address the following issues:
- Your idea – described in concrete terms.
- Financing – how much money will you need and where will this come from?
- Organisation – how will you set up your administrative system and arrange your insurance cover?
- Market research – who are your customers and your competitors?
- Details – describe in concrete terms how you intend to put your idea into practice.
- Personal details – information about your entrepreneurial skills and/or business acumen.
Tips for writing a business plan:
- Use a template.
- Start with a short summary or introduction.
- Set aside plenty of time to write your plan.
- Be realistic and honest.
- Ask others for feedback.