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Several factors in writing a business plan
 

Several factors in writing a business plan

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Make business plan writing and developing a financial plan for your business a breeze. Check out http://www.business-plan.co.za

Make business plan writing and developing a financial plan for your business a breeze. Check out http://www.business-plan.co.za

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    Several factors in writing a business plan Several factors in writing a business plan Document Transcript

    • Mistakes to Avoid When Writing a Business Plan Small Business PlanningMistakes toAvoid WhenWriting aBusiness Plan
    • Mistakes to Avoid When Writing a Business Plan Small Business PlanningFor more tips on mistakes to avoid when writing abusiness plan, click hereIn this article, we are going to discuss some of thecommon mistakes that entrepreneurs commit when theyare drafting a business plan. Most commonly, manyentrepreneurs create this document as a piece of salesliterature rather than a thorough examination of abusiness and how it will operate. It is imperative that yougo through each operating facet of your company whenyou are creating this specialized business document.Additionally, if you are using your business plan to raisecapital then you must provide an extensive amount ofinformation as it relates to the financial projections of thebusiness.Another common mistake made when drafting is businessplan is that not enough emphasis is placed on economicand market research. This section of your planning
    • Mistakes to Avoid When Writing a Business Plan Small Business Planningdocument should be three to five pages in length andshould include discussions relating to the generaleconomy, the industry in which you will operate, ananalysis regarding the demographics of your targetmarket, the competition that you will face as you progressthrough business operations. In regards to the competitiveanalysis, it is extremely important that you focus on howyou will differentiate yourself from other businesses withinthe market. Very often this analysis is overlooked when anentrepreneur is drafting a business plan.One of the details that is often omitted within thisdocument is a discussion relating to how you intend tomarket your business. Every business plan should have athree page to four page analysis regarding themethodologies that will be used in order to promote trafficto your location or how you will generate a new customerbase. In this section of the document, you must includeinformation regarding how you will use newspaper
    • Mistakes to Avoid When Writing a Business Plan Small Business Planningadvertisements, websites, radio advertisements, and otherforms of media in order to attract potential customers orclients.As it relates to the financial projections within yourbusiness plan, you are going to need to have a properlyformatted profit and loss statement, cash flow analysis,balance sheet, loan amortization schedule, break evenanalysis, and a business metrics page. Your financialmodel should be the centerpiece of your plan as it willshowcase to a potential banker or investor as to why youare an excellent candidate for funding. It should also benoted that many commercial landlords want to see aproperly prepared financial statement when they aredetermining whether or not to lease a property to you. Assuch, do not make the mistake of creating a financialprojection that does not contain any of theaforementioned items. Additionally, all of your forward
    • Mistakes to Avoid When Writing a Business Plan Small Business Planninglooking financial results should be reasonable in reflectingthe profit potential of the business.In conclusion, it is very important that you take adistanced approach to your writing when you areproducing your business plan. If you are able to remainobjective about the operating facets of your business thenyou will find that you have created a much morestraightforward and easier to use document.For more tips on mistakes to avoid when writing abusiness plan, click here
    • Mistakes to Avoid When Writing a Business Plan Small Business PlanningDownload Free Business Plan. No registration required! Includes 425+ Page Lender Directory.Matthew Deutsch is a prominent business plan writer. His work has been included in nine bookspertaining to this subject. Additionally, Mr. Deutsch has written extensively on subjectsregarding entrepreneurship, small business lending, and other related topics.Article Source:http://EzineArticles.com/?expert=Matthew_Deutsch