How to Write a Strategic Business Plan. A business plan is a document that provides an overview business plan introduction example pdf your current business, outlines the results you want to achieve and details the steps you will take to achieve them. It can be used to attract potential investors, educate potential employees, or to help you run your business in a way that will achieve its goals. Follow these steps to write an effective business plan.
Know why you are writing your business plan. Those reasons will inform the type of plan you write. You are testing out a business idea to see if it will work. You need financing or additional financing. Investors will want to see an updated plan. You are updating your plan periodically to serve as a guide for your business.
There has been a significant change in the market. Your business has changed considerably, due to the introduction of new products, technology, services, or skills. You have had a change in management, and the new managers need clear information about the state of your business and how it will achieve its goals. Write a miniplan to introduce your company to prospective investors, lenders, or business partners, or to test a business concept. A miniplan should be 1 to 10 pages and include the business concept, financing needs, marketing plan, and financial statements such as cash flow, income projections, and balance sheet. Write a working plan to help guide you in running your business.
This is a living document that you will regularly update, particularly when your business or the market changes. It contains all the details of a standard business plan, but is not overly concerned with presentation. Write a presentation plan to show to bankers, investors, and others outside your company. While a working plan acts as a reminder to management of the company’s goals and plans, a presentation plan is an introduction. It will have a much greater emphasis on aesthetics than a working plan. Create an electronic plan for presentations. It is useful to have a version of your presentation plan that can be shown via an overhead projector for presentations.
Additionally, an electronic version of the plan might feature more in-depth figures and other information for interested investors. Start with an executive summary. But write it last, because it summarizes the details of the rest of you plan. This is a compelling overview of where your business is now, where it is going, and how it will get there. It allows employees, advisors, and investors to quickly understand your business.