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.

Source:

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