Don’t skip on planning, if you wish to stay in business for long. Our writers gave Minor society the business planning insights they needed to launch their business. In fact, it can be much easier to start with a simple, one-page business plan —what we call a Lean Plan—and then come back and build a slightly longer, more detailed business plan later.
5. Have a strategic marketing plan in place. But before you have the urge to get your computer going and start writing, here are the qualities of a good business plan that you have to keep in mind. It’s really important that potential investors can understand what your business is all about from a quick glance at your plan.
Investors will want to see that you understand what needs to happen to make your plans a reality and that you are working on a realistic schedule. Plan is efficient if it achieves its purpose at a reasonable cost, when cost is measured not only in terms of time or money or production but also in the degree of individual and group satisfaction.
FINALLY, THE APPENDICES- This is everything else that backs up your business plan, such as Press Cuttings, References, competitor product lists, CVs, etc. In general, count on 6 months to a year from the time you start writing the plan until the time the money is in the bank.
Other requirements may be intangible, such as time to create a product design or to do market research on potential customers. Your business pitch is the presentation of your business plan to investors. It will also help highlight the general idea in case a reader will look briefly through your business plan.