Business Plan

Tips on Writing a Business Plan for Success!

Writing a business plan could be consider a manifestation of art by itself, because of all the assumptions and predictions you have to come up with when creating yours.

Some people think you don’t need a business plan unless trying to borrow money. Of course, it’s true that you do need a good plan if you intend to approach a lender or if you are searching for grants for women in business; As you start writing a business plan, you will find weak spots in your business idea that you’ll be able to repair. You will also discover areas with potential you may not have thought about before; and ways to profit them. Only by writing a business plan you can decide if your great idea is really worth your time and investment.

But, What is a business plan and how do you put it together?

A business plan conveys your business goals and the strategies you’ll use to meet them, potential problems that may confront your business and ways to solve them, the organizational structure .When writing a business plan remember that a good one, follows generally accepted guidelines for both form and content; and is made of three parts:

  1. Business Concept. Where you can discuss the industry, business structure, product or service, and how you plan to make your business a success.
  2. Marketplace. Here you will describe and analyze potential customers: who and where they are, what makes them buy and so on. Also you will describe your competition and how you will have a competitive advantage over them.
  3. Financials. Includes, but not limited to: Income and Cash Flow statements, Balance Sheet and other financial ratios such as break even analysis and Return on Investment.
  4. If you need help with this area, check out our Entrepreneur Finance Teleseminar, especially designed for women entrepreneurs, and rated the most comprehensive financial resource for entrepreneurs . Including: The basics of bookeeping, How to create financial statements, Effectively managing your finances, How to pay yourself and much more.