A good business plan lays out what you want to do
**
A better plan details how you will do it
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A great plan explains why
Debt or Equity funding
Establishing Strategic Alliances
Marketing Verbiage
Proposals
Personnel Planning
Financial Forecasting and Cash Budgeting
Convincing Arguments. What are the three main things you want to get across in a business plan written to raise money for an entrepreneurial venture?
The offering solves a current problem in the industry
The size of the opportunity in the market is large if the problem is
solved
There is a large return on investment if the problem is solved
Key Questions. When writing the plan, keep these questions in mind, and make sure that you answer them:
Given available information, is the business feasible?
Does the business as executed to date represent an opportunity?
How do you plan to maximize this opportunity?
Some Business Planning Tips
Allocate time and resources necessary
Manage it like any other project
Make sure you have people to review
Take time to estimate cash needs
Keep a distribution log of printed and electronic copies
