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How to write a Business plan yourself

As a business man do you know you need a business plan to able to start and expand your business successfully?
Not having a business plan before starting that business of yours is like you are courting with failure. Remember the saying “Failure to plan is planning to fail”
Indeed you need to have a business plan before you start any business.
A business plan will help you stay focus and also assist you in moving ahead towards achieving your set goals and objectives.


 

 

 

 

 

 

 

 

 

 

 

 

Basically, a business plan is a document that contains specific information about your business.
The main aims of writing a business plan to assist business owners and investors have accurate information about a particular business and the direction it is heading to.
A business plan is one document you really need to be able to obtain business loan from any bank or financial institution in Nigeria.
A simple business plan is normally a 15 to 20page document and it contains important information about your business.
How to write a business plan yourself
To write a business plan for a new business setup please, follow the steps outlined below.
EXECUTIVE SUMMARY: Describe in short term the industry the business belongs and its success factors at least a page or two.
COMPANY DESCRIPTION: Should contain Legal establishment, history of business and start-up plans.


PRODUCT OR SERVICE: Describe your products or services and its benefit to customers.
MARKET ANALYSIS: Talk your market, customer needs, where your customers are and how you can reach them easily.
STRATEGY AND IMPLEMENTATION: Write about your management strategies and how to implement and track results.
MANAGEMENT TEAM: Describe the type of organization structure for your business and list names of the key management team members.
FINANCIAL ANALYSIS: Here you have to show detail the financial plan for the business and they include.
How to write a business plan yourself.
CASH FLOW OF THE BUSINESS.
Profit and loss includes sales, cost of sales, expenses, and profits.
Pro-forma balance sheet: This contains balance of assets, liabilities, and capital.
SALES FORECAST: This contains how you plan to make sales, volume of sales expected and amount to be realized.
PERSONNEL PLAN: Personnel costs are like the sales forecast in business, can be just a line or two in the income statement.
BREAK-EVEN ANALYSIS: The break-even analyses show when the business will make no losses or profit.
MARKET FORECAST: A market forecast shows how many potential customers are there to patronize your business and its impact on market growth.
With steps outlined above I believe you can write a business plan for the business you about to start or expand.
Remain Blessed.
Ojo

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