Steps To Creating A Business Plan

From a financial point of view, a business plan is, by design, a document that's meant to attract money and financing to your fledgling business - it's your sales pitch to deep-pocketed investors to provide the financial juice you need to get your business up and running.

Strategically, it may be best to use your lean startup business plan as a sales pitch to get financiers interested in your company.

The goal here is to explain what your company does and why it will be successful.

Include a company mission statement (i.e., what your ultimate goal is as a business, in just a sentence or two.) This section leads off the main portion of your business plan.

Do you have a clear idea of the type of people (or businesses) who will buy your product or service? This is one of the first questions any investor will ask you about your business plan.

Have your answers ready: Successful businesses think big.

For example, perhaps you’re planning to start by selling over the internet. If not, how will you convince people to buy from you?

That’s great, but how will you get traffic to your site? As the business grows, is there scope for a bricks-and-mortar retail outlet?

You may be wondering why you need a plan in the first place.

After all, you have a clear idea in your mind about what you want to achieve. Here are just a few of them: This is where you describe your company and the product or service that it will sell.

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