Help With a Small-Business Plan
- Before you start writing your small-business plan, you need a complete outline to use. Once you have your outline, you can just start filling in the "blanks" of the business plan. Retrieve the business plan outline provided by the Small Business Administration called the SBA Business Plan Template. This tool provides you with a step-by-step guide for creating your business plan, including the executive summary, business description and marketing plan. At the end, you can generate your business plan and edit it from there.
- One of the most important parts of a small-business plan is the financial section. This section provides a number of important financial information, including an income statement, cash flow statement and balance sheet. If the business is a startup, it doesn't have historical data to use in this section, so it must rely on projections. One way to get help with this section is to look at the financials that existing businesses similar to your own have published and then scale them down to your company's size. For example, Hoovers is one website that publishes financial data for existing companies. You can also visit your local library to retrieve financial data for public corporations (check annual reports).
- Proper, thorough research is key to writing an effective business plan. It is particularly important if you want to get the support of a financier or partner --- you must prove your statements and estimations. You can do research to back up your assertions in the business plan by visiting reputable small-business websites such as Elsevier and magazines such as "Entrepreneur" and "Inc." Take the time to examine business case studies (see the Harvard Business Review resource) and stories about business success.
- Creating a full business plan is time-consuming and sometimes confusing for a first-timer. Get assistance from a small-business counselor to make the process less intimidating. The Small Business Association sponsors SBDCs, or Small Business Development Centers, across the country. There you can visit a local college to get help from business students and experience professionals. You can also get assistance from a SCORE counselor.
The Outline
Financials
Research
Counseling Help
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