Tips On Writing A Good Business Plan
Business plans are preparing at least once a year in most big corporations. Corporations spent months of hard works, analysis and researches to come up with a plan that will guide them to achieve their future objectives or targets.
They prepared short and long term plans. The short term plan is usually for the next 12 months or one year. The long term plan can be as long as ten years.
If you are preparing a one, here are some tips to guide you through in getting it out smoothly.
1. Address your audience. Find out who are your audience. Write something that will interest them and do not put in details at this point.
2. Anticipate Questions. Anticipate questions that will be asked about the plan. Questions like who, what, where, when and why.
3. Provide Assumptions. Provide assumptions or explanations to support write out.
4. Factual Support. It is advisable to support your assumptions with factual support whenever possible. Factual support can be market research, focus group data, market competition intelligence, reliable industry data and so on.
5. Avoid Superlatives. State specific details such as an annual growth rate of 20% over next five years rather than just good potential growth.
6. Quantify Your Goals. Provide details of business target, net margin, sales targets and net income targets that you hope to achieve.
7. Limit your pages to 40 or less. If you wish to provide additional support, illustrations, legal documents or business agreements, put them under exhibit section.