A short presentation over how to effectively start a new business.

1. The Process of
Creating an Effective
Business Plan
Zachary S. Cartwright

2. What is a business plan?
• A business plan are goals set forth by the owners.
• Hormozi, Sutton, McMinn, and Lucio (2002) say that, “The purpose of a
business plan is to define the business and explain in as much detail as
possible how the venture will operate in the current market.” (p. 755).
• A business plan will help you sell your business to potential investors or
lenders.
• A business plan will make you aware of risk factors going into the start-up of
a new business.

3. What to include in a business plan
• Most business plans will include discussions going over the industry you
plan to be in, the product you want to sell, the pricing of your product and
how you plan to market.
• Within each section you will want to sell your business to potential investors
or lenders.
• You want them to know that you can be responsible with their money.
• You want to show the people you give you money that they will make a
return on their investment.

4. Why a business plan is important
• Hormozi et al.’s (2002) says, “a business plan should reflect the individuality
of the new business..” (p. 761).
• You want your business to succeed in your market and having a well written
plan will help accomplish the task.
• You can set forth goals and use them as checkpoints for yourself.

5. Conclusion
• Write a business plan regardless if you are a small business or large
corporation.
• Sell your business ideas and goals to your investors and lenders.
• Keep your individuality in your business, but remember, business is
business.

7. References
Hormozi, A., Sutton, G., McMinn, R., Lucio, W. (2002). Business plans
for new or small businesses: paving the path to success.
Management Decisions, 40(8), 755-763.