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Business plan for a new business
The business plan consists of a narrative and several financial worksheets. The narrative
template is the key to the business plan. It contains more than 150 questions divided into
several sections. Omit any questions that do not apply to your type of business. When you have
finished writing your first draft, you will have a collection of small essays on the various aspects
of the business plan. The next stage is to edit them into a smooth-flowing narrative.
The real value of creating a business plan is not in having the finished plan in your hand; rather,
the value lies in the process of researching and thinking about your business in a systematic
way. The act of planning helps you to think things through thoroughly, study and research if you
are not sure of the facts, and look at your ideas critically. It takes time now, but will help avoid
costly, perhaps disastrous, mistakes later.
This business plan is a specific model suitable for high-tech businesses. Before you begin, look
st
atthe 1 section Tailoring the plan . It has tips for fine-tuning your plan to make an effective
presentation to investors. If this is why you ’ re creating your plan, pay particular attention to your
writing style. You will be judged by the quality and appearance of your work as well as by your
ideas.
It typically takes several weeks to complete a good plan. Most of that time is spent in
researching and revising your ideas and assumptions. But this is the value of the process. So
make time to do the job properly. Those who do so never regret the effort. And finally, be sure to
keep detailed notes on your sources of information and on the assumpt
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