:: What is a Business Plan?

A Business Plan is a written statement of your business; what you want to achieve with it and how you will do that.
It should outline the structure of your business, the product or service, the customer, the growth potential and the financials.
But as well as giving information about your business it should also inspire you for the future.

 :: Why Plan?

Most businesses write a Business Plan either because they think or have been told they should, or because they need one to raise money.
If you are putting together a Business Plan to raise funds, the plan becomes even more critical in determining the success or failure of your business.

 :: What goes in the plan?

The plan is basically spilt into four main parts: the business; marketing; finance and the management team.

 :: How big should the Business Plan be?

 :: How professional does my plan need to be?

If you have a great business idea and the figures work on paper you're half way there. However, you'll never realise that potential of a great business plan unless it's presented in the correct way.

 :: Does it matter how I present my plan?

Before presenting your business plan double check to make sure that the document looks professional. No typing, grammar or spelling mistakes. Use graphs and charts where appropriate and titles and subtitles to divide different subject matters. While the aim is to make it look good, you should avoid expensive documentation, as this might suggest unnecessary waste and extravagance.

And remember, the business plan is a living document. Don't think of it as a fixed route and be prepared to adapt it to suit your audience. Even if you are in an established business, you must be prepared to adapt the plan as your market or customer base changes or if disaster strikes.