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How to Write a Business Plan in Four Easy Steps

Writing a business plan is possibly the hardest part of the business process. In creating a business plan you are crafting something out of the scratch – business idea. Developing an understanding of a business, its market trends, growth opportunities and financials are time consuming and no doubt is a frustrating process. In many ways the research is the easiest part to develop. Once you have the clear idea of all these elements, the method of writing a business plan should follow easily, which helps you to answer the question on how to write a business plan.

In this article, we will describe the four easy steps, which you need in order to seek funding from potential investors and lenders. These steps help you to write a plan, which can save your money and problems.

THE MISSION: This is one of the main elements of the business plan that explains the purpose of starting a business. This section contains all aspects that are necessary to take the business on to the heights. Clearly mention the advantages of your business that will help you to bring clients or customers. Features are good to have, but benefits fill a need. Make sure that the benefits will benefit customers from survival needs to self-actualization, as Abraham Maslow has mentioned in his hierarchy of needs.

Also include your values, what is important to you, e.g. your employees, your clients or customers.

VISION: This is the single or two line statements that contain the strategic initiative that will keep you focused.

TARGET MARKET: The most critical section of a plan is the target market section. This section requires in-depth and thorough research. In this section you have to decide whom your products and services are directly meant for and who is the best audience for your product or service.

Once you decide about your audience, focus on the marketing campaign that you think can attract large number of audience.

FINANCIALS: Relax; it isn’t that daunting. This is the section that requires enough care, as this attracts the investors and lenders most. Decide the amount of capital you need to start a business. This section requires careful projection. Estimate how much will you make in the first year of your sales. Be realistic! Otherwise potential investors and lenders will not take your plan seriously.

Above are the four easy steps that help you to write a business plan. If you follow these steps the success will go far.

How to Write a Business Plan for a Small Business

So, you have an idea for a new business venture and you are excited. You can see the business in your mind but don’t really know how to begin to make it come to life. What you need is a plan, but how to write a business plan for a small business is the big question. The simple answer is to “paint” the picture you see in your head onto a business document so that others can see what you see. This business document becomes the black and white tangible way to share your vision with the business community.

It will consist of several components that will help to verbalize the purpose of your business, the goals of the business, and how you will conduct that business. It will need to discuss the current financial health of your organization, what financial resources you will require to be successful and how those resources will be utilized to produce that success. It will require you to demonstrate that you have conducted a market analysis that indicates your potential success and describe the marketing philosophy you will employ to realize that potential. All of these segments are the fine brush strokes, or details, of your broad picture.

The details provide the substance that is needed to bring the abstract idea into focus; however the vision is what makes it come alive. There are many technical templates that you can follow to physically put a business plan on paper, but the answer to how to write a business plan for a small business really is to simply paint a picture.

How to Write a Business Plan While Playing

BizTech 2.0 is an entrepreneur education program offering business assistance to students over 13. The program teaches business, information technology and life skills to young people via the Internet. It reinforces math learning, reading and critical thinking skills.

The program was launched by The National Foundation for Teaching Entrepreneurship, an organization located in New York City that was set up from the need for a program for preventing failure and dropout of disadvantaged students from low-income communities. It does this by helping them develop entrepreneurial skills and eventually enhance their economic productivity and improve the quality of their lives and their academic and business skills.

BizTech 2.0 is flexible, user friendly, utilizing the latest technology. It is built of 25 units divided into three levels: basic, intermediate and advanced. It allows on-line learning of how to develop your own business connecting students and teachers.

Students have the advantage of the interactive graphics that reflect the progress through each level.

The program is teacher-led and teachers are permitted to choose the most appropriate work mode for the class or student from: Full Curriculum Mode or BizPlan Only Mode. Both modes result in teaching kids how to write a business plan in a complex, well drawn manner.

What is really helpful and confers the program maximum productivity is the fact that it is designed in such a pleasurable manner that students learn valuable, complex business and entrepreneurship information and enjoy it, as it is known that kids learn most by playing and that’s exactly what they do when working with BizTech 2.0.

The program partially answers the social problems of potential problem-children from low-income urban backgrounds who are usually prone to quitting school and finding ways that are not always “righteous” to make money. But not only this category of kids can benefit from such a program, as it was proven by a study that NFTE graduates possess 20 times more knowledge on basic business concepts and are 30 times more likely to start up their own business.