Business Plan

A business plan is sometimes used to present your business idea on paper to financial institutions in order to secure funding (loans) for your business. It is also something you would give prospective investors in your business. If you search on google there are plenty of help with business plans on the entrpreneur sites. For an example of one- google "example business plan" Hope all goes well.

It's not easy to write one, I've done a basic plan myself for a business that hasn't been launched yet, it's just not a market for investors and that really sucks.

I have tried making a business plan before, when I and a friend of mine decided to start up a business which was not successfully launched because of a unavoidable problem. But I can say as a beginner, especially because I didn't have trainings on how to make business plan and rely only on net to make one that it is really a difficult task. It is quite complicated, a lot of insights and predictions to fill in. A lot of things to be consider. The simplest there is the executive Summary for me, but then it is hard to make elaboration out of the Summary.

I think you got get more idea on how you can make a exemplary business plan if you refer on net, study prepared business plan on net and use it as a guide.

i did my own business plan about 3 years ago for the online business i started up, i had to present the business plan to my bank manager in order to open a business account and then i had to present the plan to the examiners at the princes trust in order to secure a £4000 grant from them to start me up.

as i had taken business studies at gcse level i was tought some parts of preparing a business plan but i also took my own initiative and had learnt everything i possibly could about the products i would be selling in my online shop and on ebay.

needless to say they were very impressed and i got my grant with ease though i ended up closing my shop down due to personal circumstance and problems with suppliers, it was fun while it lasted though.

business plans are not hard to do if you just take a nice easy approach to them if you sit there thinking oh my god i can't do this then you'll hit brick walls.

one of the other things you want to do before starting an online business is look into the economy of your country, for instance i would not start another business here in the uk because our taxes are way over inflated and so a small business struggles. In the U.S. the economy is slowing down and if your doing something which is retail orientated you may have a hard time pulling in customers.

the best kind of online businesses are gambling sites, the uk has had an influx of sites pop up doing bingo and other things, one of the most successful is jackpotjoy.com.

do plenty of research into what ever field you are going into first otherwise you could find yourself not knowing enough about your market and your product and then find urself in difficulty.

What your goals are for this business, and where you would like it to go. Future vision of your business. Good luck!

I have not formally done a business plan, a proposal for banks, like that. What I've done so far, is come up with like a feasibility study with my friend because we've been looking into putting up a small business together. It has not yet pushed through as things haven't worked out for our small business plans. It's all been basically just in the drawing board.

What I can suggest though, is for you to include in your plan your budget for the business you're going to put up. Like, what costs would be involved, projection of costs to be incurred, like rental expenses, salary, etc. Your market target, on who are your prospect customers, include that also in your plan as that would project if the business is feasible.

Good luck!

I tried dreaming of my own business but never really planned about it. But I was able to put up my own. And the greatest mistake i ever made was, i did not planned it. So, I faced a lot of problems. But I was able to overcome it.

i guess ya left out on one more w and that would be work...be specific about what work ya are gonna do and then the rest of the w comes in..have fun

I have looked at business plans, and I had to write about them too. If you ever need someone to help you write one up let me know.

You can have a simplified one or a more advanced one, depending upon the purpose. Either way, it should have the following:

Name of Business

Mission of Business

Business Goals

Startup and Operation Costs:

Potential Revenue:

Past Revenue: (if already started)

There are others too, but this should get you started. If you need any more help please let me know. I am a good planner as far as seeing the big picture is concerned.

I wrote a business plan when I was in highscool for the business enterprise curse.
You will need more than the 5w's You need projectiopn statements and cost balance sheets. I suggest picking up a book at the local book store on writing a business plan, they can be very difficult and they have to be perfect or potential investors and banks will not think you have a solid business plan.
Good luck!