Many of you may have heard of the 1 Page Business Plan.  A smart, and now rich man, once determined that business plans were too long, and that often times VIP’s and decision makers don’t even read past the first couple pages of your business plan.  In response to this problem he created the 1 Page Business Plan brand.  He wrote books, trained others, and made a fortune I am sure.  Although his assumptions were correct that many people will not read more than a page or two of your business plan, there are still a number of reasons why you should not simply write a 1 page business plan.

Credibility – Whether a banker or investor actually reads your entire business plan is besides the point. Handing over a nicely bound and professionally written business plan to your banker will provide immediate credibility that you have done the work.  On the other hand, if you simply write a one page business plan, which is essentially an executive summary, it will look like you have not done the work and the research to validate your business endeavour.  The business plan gives the banker or potential investor the impression that you have at least considered items like your competition, your marketing plan, and your business model.

Business Plans are for Internal Use – The purpose of a business plan is not only to appease a banker or investor, rather a business plan can be valuable for internal use.  If you have a simple one page business plan you will probably run out of direction for your business after week one.  Your business plan should be an internal road map for you business that is constantly changing and adapting with the competitive environment you find your business in.

The Purpose of an Executive Summary is to Intrigue the Reader – If your executive summary or one page business plan is successful, it will intrigue the banker or investor to ask for more questions or more detail about your business.  If all you wrote was an executive summary, what extra detail can you provide?  A full business plan will allow you to provide interested parties with additional detail regarding your business.

Ultimately there are a number of reasons why you should write a full business plan.  The value of a one page business plan or an executive summary is that is compels the reader to ask for more.  It should be intriguing and should supplement a document that provides the reader with more detail on any aspect of the business that they wish to learn more about.  Keep this in mind as you consider taking the easy way out when writing your business plan.



Writing a business plan is a very simple ordeal.  Writing a well stated, balanced and structured business plan takes a little more work.  A business plan is like a statement of where the company is going, what it is doing, and what it has done.   A well formulated business plan can be a lot of things to a business.   It can be a success or failure, it can determine investors, and it can open new paths to making money. 

So what are the essential needs of a business plan?  First you need to know a few things before you get started.  A typical business plan will run between 15 – 20 pages, not to let that restrict you, it’s just the norm.   The length will really depend on the nature of the business.   Second, everyone can use a plan, not just start up companies.  Business plans are used for every major company to every minor company.

Creating a business plan can have a range of objectives.  Knowing these objectives can be an important step to defining the type of plan you need.  Remember, several templates exist on the internet as good reference material.   So what kind of things do you need to plan in order to make a plan?  Some things, such as your objectives will be easy to identify.  Other things to plan out are the financial goals, implementation and your growth potential.

Now we have the creative juice flowing.  It is time to put it all into practice.  The structure of a business plan is very important.  The first section is the last written, it is the executive summary.  This is for the lazy people who do not want to read the entire plan.  It essentially summarizes the entire plan in one or two pages.   The second section, and the first one written should be the business description.  Answer the who, how, when, where and why.   The what is also important… What are you providing.

This description should provide a good basis for the rest of the plan, think of it as an introduction.  Next come the marketing strategies and the competitive analysis.   In order to be a successful business you have to know your competition, and know how to beat them.  This is a simple way to make sure you know who you are going up against. 

Next comes the meat and potatoes.  These can be summed up in the Design and Development Plan, and the Operations and Maintenance Plan.  These two in depth plans look at how the business will operate, and how you will generate income.  It also illustrates how you will become a bigger company, your growth and development.  The last step is to tie it all together with the financial components.

Sounds like a lot of work.  Again, remember there are several templates available to use as reference.  The only suggestion is that it does not have to be perfect the first time around.  You can revise it, perfect it, change it.  Remember it is your business, so therefore it is your business plan.  Follow the above steps and find a template to help you.  You will have a plan and investors in no time.

By Indeshaw Adenaw

Starting a business plan is a detailed process that is both educational and revealing. With existing companies it is a chance to re-evaluate profit margins and focus on the prominent areas of the business while cutting out the departments that are losing money. For business plans for new companies it is an opportunity to really focus on, and understand the industry and evaluate whether your next big idea will be successful before you make a large investment.
Although up to 44% of new businesses survive 4 years or more the success of any new business is good planning, access to capital and good business management.
Here are the 5 best tips for creating a killer business plan that will undoubtedly impress:
1) Consider Your Audience
Business plans are developed for many different reasons. Is it for presenting to a panel for project approval? Will it be to submit for funding? Is it simply to restructure the business for profitability? Each of these avenues will require adjustments to the plan format and style you will need to use throughout the document. If you are attempting to obtain funding then you will have to have very detailed cost and ROI projections that are measurable and realistic. If you are making a presentation to a non-profit or a board of directors it is likely that you will need to include a directive on community impact or involvement and impact (either positive or negative) to the existing business. Remember your audience as you creates your document to ensure you focus on the important topics and leave no questions unanswered.
2) Quality Reference Material Is Key
It is important to integrate a diverse mix of reference material in your plan document. The web is great for the latest news but is not nearly as highly regarded as printed documents. Be sure to use a good mix of reputable internet reference along with well-known facts and industry statistics most often found in printed literature. Industry specific publications and industry magazines are an excellent way to get the latest news and trends in a reliable place. Always include references from industry publications as well to raise the standard your business plan and build credibility in your due diligence. Always make sure to cite your research or any quotes you may use. This will also build credibility while ensuring you are not infringing on any protected or copyrighted content you use. To quickly and easily cite your sources there is a web-based tool that you can use to enter in your info and get back the properly formatted entry for the works cited page. It makes the process a breeze: easybib.com.
3) Do Your Own Research
Creating a solid business plan is the singular first step in knowing your industry and understanding what it will take to be successful in your chosen field. Part of developing a plan should be to evaluate competitors, define your business strategy and start to understand if your value proposition meets a tangible need in the marketplace. Walking through the initial steps of creating a business plan is an invaluable process that will help to ensure that your business can survive the market trends. Don’t pay someone else to do your research for you or it may end up costing you more than you think.
4) Using a Business Plan Template
Now that you have various notes and articles, market information and loads of statistics it is time to put it all together in a layout that will highlight the data you have compiled. Finding business plan examples can be a challenge as every business plan is different (see point #2 above), however you can develop your own based on a compilation of the different topics or areas you want to cover. If you want a business plan template that comes formatted with sample headings and the different categories already setup, try using the plan layout from online websites. This site has a real business plan in Word format for quickly changing out headings and information. In addition the plan comes with a break-even analysis template in Excel as well as a 1 year Pro-Forma template in Excel with the formulas already built for easily updating and projecting costs for your business. This is a big time saver and an easy way to quickly get the business plan document underway without having to start from scratch.
5) Seek Out Experts in the Industry
Finally, after you have organized your information reach out to some industry experts like local college professors, trade show organizers, or even your local Chamber of Commerce for some insight and feedback on your plan. It always helps to get a second opinion on the plan before making the final presentation. Having one or more individuals look over the plan will shed light on areas that need to be revised or reinforce that the business plan is ready to present.
Don’t get distracted spending valuable time figuring out the Works Cited, Table of Contents or overall plan layout. Use the templates or resources that are readily available to you and spend the time focusing where you should, on the reporting and presentation of your business idea.

It is always said “If you Fail to Plan, you Plan to Fail”

Success in business comes as a result of planning. You have to have a detailed, written plan that shows what the ultimate goal is, the reason for the goal, and each milestone that must be passed in order to reach your goal.

A business plan is written definition of, and operational plan for achieving your goal. You need a complete but success tool in order to define your basic product, income objectives and specific operating procedures. YOU HAVE TO HAVE A BUSINESS PLAN to attract investors, obtain financing and hold onto the confidence of your creditors, particularly in times of cash flow shortages–in this instance, the amount of money you have on hand compared with the expenses that must be met.

Aside from an overall directional policy for the production, sales effort and profit goals of your product–your basic “travel guide” to business success–the most important purpose your business plan will serve, will be the basis or foundation of any financial proposals you submit. Many entrepreneurs are under the mistaken impression that a business plan is the same as a financial proposal, or that a financial proposal constitutes a business plan. This is just a misunderstanding of the uses of these two separate and different business success aids.

The business plan is a long range “map” to guide your business to the goal you’ve set for it. The plan details the what, why, where, how and when, of your business–the success planning of your company.

Your financial proposal is a request for money based upon your business plan–your business history and objectives.

Understand the differences. They are closely related, but they are not interchangeable.

Writing and putting together a “winning” business plan takes study, research and time, so don’t try to do it all in just one or two days.

The easiest way to start with a loose leaf notebook, plenty of paper, pencils, pencil sharpener, and several erasers. Once you get your mind “in gear” and begin thinking about your business plan, “10,000 thoughts and ideas per minute” will begin racing thru your mind…So, it’s a good idea when you aren’t actually working on your business plan, to carry a pocket notebook and jot down those business ideas as they come to you–ideas for sales promotion, recruiting distributors, and any other thoughts on how to operate and/or build your business.

Later, when you’re actually working on your business plan, you can take out this “idea notebook” evaluate your ideas, rework them, refine them, and integrate them into the overall “big picture” of your business plan.

The best business plans for even the smallest businesses run 25 to 30 pages or more, so you’ll need to “title” each page and arrange the different aspects of your business plan into “chapters.” The format should pretty much run as follows:

Title Page Statement of Purpose Table of Contents Business Description Market Analysis Competition Business Location Management Current Financial Records Explanation of Plans For Growth Projected Profit & Loss/Operating Figures Explanation of Financing for Growth Documentation Summary of Business & Outlook for The Future Listing of Business & personal References

This is a logical organization of the information every business plan should cover. I’ll explain each of these chapters titles in greater detail, but first, let me elaborate upon the reasons for proper organization of your business plan.

Every business plan is different. A company and its products and services are unique. The purpose of a business plan could be to either start a completely new business venture or grow an existing business. The audience could be investors, bankers, managers, or major suppliers. The sections or topics of a business plan may not apply to every business. Listed here are the top 10 sections that are found in most successful business plans.

The first, and most popular, part of a business plan is the Executive Summary. It provides an introduction to the company, its business opportunity, products or services, current business position, financial potential, and a closing paragraph stating what you want from the reader. Remember, this is a summary – most of these topics will be explained in more detail later in the business plan. The Executive Summary is the most important section since it will be read first and is used to entice the audience to read more of the business plan.

The second topic is the Company Background. This section tells the story of how the company began and why. It also describes the ownership of the business and business type (Sole Proprietorship, Partnership, S Corporation, C Corporation, Limited Liability Company).

The third topic is Products. It describes the product, competitors, market research and demand, and suppliers. The fourth topic is Services. This is similar to Products except that with services, a business plan needs to explain how the service will be provided. The Products and Services sections are an example of how an entrepreneur or business owner needs to apply the sections that work best for them. Some companies will have products, some will have services, and some will have both.

The fifth topic of a business plan is an analysis of the Industry, Competition, and Market. This section includes in-depth details about the current condition and trends for the industry, specific companies that will be the primary competitors, the market size, projected market growth, and the characteristics or profile of a typical customer.

The sixth section is the Marketing Plan. A marketing plan is important because it describes how the company will reach its revenue goals. It should outline the promotional plans and distribution channels, and explain pricing and the company’s competitive advantage.

The seventh section of a business plan is the Operating Plan. An operating plan talks about what is needed to operate the business, such as employees, equipment, the location, and supplies. It describes how the business will be run on a day-to-day basis.

The eighth section goes over Management, Organization, and Ownership. It will include information about outside consultants, including attorneys, accountants, and advertising professionals. Typically, investors will need to feel comfortable with the owners, advisory board, and managers before they back a venture.

The ninth section of a business plan is Goals and Strategies. Discuss business goals, such as increasing market share, expanding into new markets, adding a location, and sales revenue. It’s important that these goals are as realistic as possible.

The tenth section is the Financial Projections. This can be the most intimidating part of a business plan for most people. But, with a good idea of your expenses and projected income, business planning software can automatically prepare financial statements for you.

Business planning software helps entrepreneurs and business owners prepare their entire business plan by providing examples of each topic, practical advice, and a list of start-up resources. Even though every business plan may be different, using a standard process found in business planning software can help walk you through each of the top 10 sections found in most business plans

Business plan is the top essential thing to have when setting up a new business or expanding an existing one; however, it is a challenging undertaking, and there is need for expertise in order to create a sound and workable plan. A well-written business plan is necessary for every aspect of your business such as securing loans and working with vendors.

As your mind is occupied with other aspects of setting up the business or trying to implement business expansion strategy, you may not be able to come forth with a sound plan, especially if you do not have skills in creating such an important piece that determines the success of your business. Therefore, hiring a professional business plan service provider is the best option at your disposal.

Business Plan Cost

The entire cost you will incur when hiring the services of a business plan writer is largely determined by the aspects of the service you want handled for you. For instance, you may opt to have the service provider write only the business plan and leave out the marketing strategy. On the other hand, it is likely to cost more when both the plan and marketing strategy are undertaken by the expert. A good number of the business plan services do not charge for consultation and would also offer free business plan quote.

Tips on Choosing a Business Plan Provider

Sometimes, it could help substantially to search and read business plan writers reviews online to help you make a better choice. However, ensure that the reviews are genuine, visit sites that offer honest reviews of such services. You may also choose to use business plan software to write your business plan; again, it’s a good idea to read genuine business plan software reviews online.

Business Plan Service Process

For most business plan services, the same process applies but may vary slightly.

This is how it goes;

You will first of all undergo an interview with the business plan service provider along side with your management team. The essence is to capture a good picture of your intended business or an existing one in order to build a solid and relevant plan thereafter.

Subsequently, the business plan service will conduct an extensive research which will include studying related businesses to aid them in structuring relevant content for your business plan. There may be need for revisions along the line in order to come forth with the best plan. Usually, you will be consulted all along to ensure that you participate in the structuring of your business plan. They will also advise you accordingly on marketing strategies (or even come forth with excellent marketing strategies for you if you choose so) and business finance sources.

Bear in mind that a sound business plan is necessary to get financial assistance and funding for your business. This is why you must choose a business plan writer wisely, and ensure that your investment in business plan will pay you off excellently at last.