Considering creating a fresh business of your own? Great! "Taking a chance and going out on a limb is usually not that bad after you've done it."
Most people would agree that a good route to take when creating a business that is new is to take some time out and come up with all of the goods and bad that may come with beginning your new endeavor.
When you have come to the conclusion that this is something you would like to pursue, open a new document on your computer and make a business plan. Many people that want to start something of their own might overlook this simple but essential step, but what is a business plan anyway? These convenient business plans are made in order to summarize and concentrate on all of the important aspects of the new business in question. Creating an awesome business plan template will be just the thing that you need to increase your chances of securing capital. Whether your business will require financial assistance or not, it's typically best to at least have a sample business plan ready to go. You may even end up making a few sample business plans before you finally settle on one. Doing so can help you to measure your progress or setbacks. I have made a simple template for business plan below so that you can get started immediately.
Business Plan Template:
Startup Example Business Template
The Business Name
M Hagens - CEO
201 Lavaca St
New York, NY 10025
Give the basics about your new business: what is it that you are going to sell? What services will be provided? Who will run the business? Who will be your clients?
About the Company
What type of field is your business in? What will you and the people that you work with do on a daily, weekly, and monthly basis?
How far do you want your business to go? Where do you want everything to be a year from now - or five years?
What does your business stand for? What do you believe in? Briefly name the values and principles that your business will be based on.
Type of Business Ownership
Decide whether your business will be a sole proprietor, corporation, LLC, or partnership. After doing so, tell a bit about why you chose that type of ownership.
Business Service and Products
What is your business going to sell and what kind of services will be rendered as well? How will you make what you have to offer better than the rest?
Benefits and Advantages
Convey all of the good things that your products or services can provide to future customers.
Market Research - Purpose
Despite how great you may think that the product you have is, the endeavor will not be successful if you don't have a good marketing campaign in place.
Market Focus and Information - Plan
Written info and research like market profiles, newspapers, data from census research, and anything that can help you get a better grasp of your market.
Information about your market and industry type.
List a few of the businesses or companies that could be competition for you in the future.
Here, you will create a strategy on how you will market that will go well with your particular niche.
This is how you will go about grabbing the much needed attention for your new business.
Financial Marketing Budget
The budget will consist of the total projected costs that you will need in order to promote.
Where will your business be located? Even though you may not have thought about this yet, it might be wise to consider what type of place your business will need in order to operate efficiently.
How are you going to get your products or service out to the people?
Projection of Sales
Since you have already explained the products and services that you will provide, potential customers, marketing plans, budget and finances - you can estimate a projection of sales that you expect your business to produce.
Plan of Operations
Here you will give all the details of day to day company operations, the location of the business, supplies, employees, etc.
Think about how your services or products will be made.
Type of Location
Explain what type of characteristics your new business will need.
List any patents or trademarks that have to be looked over.
How many people will be working for you?
Name a few good suppliers that would be right for your business.
Will your business sell products and services using credit?
This will consist of the person or people that will run the business daily.
Here you will have to provide a financial statement and show any assets or collateral that's outside of the business.
Startup Business Costs
These can include costs that may occur before the business has a chance to start up.
1 Year Profit and Loss
Most people that own a business consider this to be an integral part of their financial plan.
Daily Balance Sheet
This report will be needed to keep close track of a businesses finances.
Cash Flow Forecast
This is a projection of inflow of cash that you will expect your business to produce.
This analysis will give you an idea of the amount of sales that you will need for your business to get back any costs that have went into the business.
How much will any potential loan be and what will the money be spent on.
People that invest will have a much different view on things. Investors will look forward to tangible results and want to have a piece of the earnings.
High Tech Businesses
Are your products or services going to be advanced?
Downloadable Business Plan Template:
Completed business plan - Download Document
- K.I.S.S. - Keep It Simple Stupid
Don't over think things
- How will you gain an edge over any competition
- Be certain you have a good plan to keep your cash flow up
- Keep goals that you will meet monthly