How detailed is your Business Plan?

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imported_SouthernZ71

New member
I'm working on a new Business Plan as I'll need an initial investment for my new plans. For those that have needed a BP for a lending company, how detailed is it? I've seen some with grafts/charts, etc.



Does yours just cover a summary, what will be offered, your history, expense sheet and products needed?



Thanks for any help
 
Along with the usual financial information with regard to salaries, wages, payroll taxes, marketing, advertising, promotion expenses rent, repairs, maintenance, utilities, Insurance, taxes and licenses you may also want to include information about the following:



1- Identify the type of business, market and customers you intend to service.

2- Identify why the business will be profitable.

3- Identify how the business will be affected by seasonal changes.

4- Identify specific business objectives and goals.

5- Decide whether the business will be a “mobile� or “on-site� operation.

6- List your five nearest competitors.

7- Identify how your business will be better than that of the competition.

8- Identify your experience and knowledge of this type of business.

9- Identify your abilities, interests and reasons for going into this business.

10-Identify why you will be successful in this business venture.
 
Wow I better get started, I thought I was doing at around 10 pages....



Did you guys "shoot from the hip" or enlist an agency for help, cause I'm running out of stuff to write and feel I keep repeating myself.



Thanks
 
I took a business honors course on it. It was a 9 credit course over the course of the semester. Not easy work, but what an experience. You can truly use it forever.
 
It needs to be as extensive as you feel it should be. A lot will depend on how much funding you need and the risk preceived by the investor. If you only need 20-30k, you don't need a huge business plan. If you're after a couple of million, then you'll need to cover everything under the sun. It also depends a lot on how well you can sell the business and what your comunication skills are like - some people are better verbally, some are better on paper.



Two things though that I always remember:



1. A business plan can put people off just as much as it can excite people - too long = too boring.

2. A business plan shouldn't just be seen as a means of getting investment - it's your business blueprint that you should follow to the letter as well - it will keep you heading in the right direction and keep your mind focused.



Ben
 
BenP said:
2. A business plan shouldn't just be seen as a means of getting investment - it's your business blueprint that you should follow to the letter as well - it will keep you heading in the right direction and keep your mind focused.



Ben
Click to expand...



I agree with this to a point, but as the business grows/evolves/changes, the business plan will need to be amended and adapted to fit the new environment. One can't be so stuck on following a plan exactly that they suffocate opportunities and change.
 
Great. I'm looking to borrow no more than 20k. At the moment I'm hanging around the 10 page mark. Will have some people read it over and let them judge if it needs more.



Thanks
 
I forgot to mention that there are usually two forms of business plans; full and abreviated. The abreviated will usually be around 10 pages.



It never hurts to ask if someone would like the full or abreviated version. Some will want to see the abreviated and if they like what they've seen so far, they will want the full plan.
 
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