Management and Business Plan Outline - 1301 Words

How to Write a Business Plan Writing a business plan may sound simple enough, but it actually takes several dire and crucial steps. According to entrepreneur Darrell Zahorsky, the following steps are all essential in comprising a plan for one’s business: 1. â€Å"Audience Funding Type: When writing a business plan, you must determine who will be reading it. This decision will shape the business plan. Do you plan to go for debt or equity financing? Each form of funding for your business has pros and cons. For instance, the venture capital market can be very time consuming and competitive. Do you have the time to write the business plan for investor funding and to network within the community? Writing a business plan for investors is 15-30†¦show more content†¦These are all questions you need to answer to define your business structure.† Zahorsky adds: â€Å"The easiest way to go about collecting all your experiences, interviews, and research is to create files for each section of the business plan. These files can be: paper-based, computer files or set-up using business planning software. As you start the research and collection phase of planning, fill your files with notes and printouts.† 5. General Industry Overview: At the fifth step, one should: â€Å"Begin the research process with an overview of the industry; uncovering industry and association reports. By having a general understanding of the industry, you will avoid embarrassment in contacting experts with basic questions. Begin the field research once you have a good grasp of the industry fundamentals and need answers to the hard-to-find information.† This step is also the time where one would answer the following questions: â€Å"What kind of tangible items will you need to get your business started? Do you need inventory? You will most likely need an assortment of office supplies no matter what your business. Items such as a computer, printer, and fax machine are all typical office needs in today’s society. Do you need equipment? This is a good time to research what you may need in the way of equipment for your business. Make a detailed list so you can easily research costs for each.† 6. Analysis:Show MoreRelatedThe Marketing Handbook Critique762 Words   |  4 PagesThe Marketing Plan Handbook Written by Alexander Chernev In The Marketing Plan Handbook, Chernev gives a simplified approach to writing marketing plans. 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