Business Plan Article

Potential investors will also want to see the expected return and sources of funding, while shareholders are looking for the prospect of the share price and what dividend they can expect on their shares.Generally, lenders, shareholders and investors want facts and figures that back up what you say. Keep in mind that you should have a lawyer look over all contracts and legal issues.There's no one guaranteed formula for writing an effective business plan.

Potential investors will also want to see the expected return and sources of funding, while shareholders are looking for the prospect of the share price and what dividend they can expect on their shares.Generally, lenders, shareholders and investors want facts and figures that back up what you say. Keep in mind that you should have a lawyer look over all contracts and legal issues.

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You should include information on how you plan to recruit and maintain your employees or handle outsourced work.

Do an assessment of the company's needs with regard to premises and capital goods (such as machinery, technological equipment).

How will your company or product/service make a difference in the lives of your customers?

Make sure you show your lender that you've done your homework.

Your business plan is a crucial document for your new company.

It says who you are, describes your business and shows how you will become profitable.Ask yourself: Who your customer is, what business are you in exactly, what do you sell, and what are your plans for growth?Address how your goods or services will appeal to customers.Basically, your market research helps you understand your customer needs so that you can offer a product or service that precisely fits those needs.You'll need to provide information such as your target market, customer demographics, competition and distribution methods.Provide information on competitor weaknesses and strengths and show how you intend to improve on what they're doing.Use organization charts to clearly spell out the roles of key management people and the proposed size of your organization.BDC's article "How to write an effective business plan" provides a brief outline of the key elements of a plan.You can also read our article on common mistakes to avoid when building your business plan.Your business plan has to be backed by facts and research to hold up to scrutiny.You should gather this information using both secondary and primary sources.