Forums: Discussions for entrepreneurs and small business.

This post does an excellent job of highlighting the business plan itself.  However, the planning process is much more important than the actual plan.  By engaging in planning, you are forced to think long and hard about what you will do and, more importantly, what you will NOT do to build your business.

I believe you can have a perfectly good planning process without doing a business plan. Of course, developing a plan will probably provide more focus to your planning process, but it is not 100% necessary for a formal business plan to be part of your planning process.

Dallon Christensen

FirstStep Concepts.com

It was a pretty good overview of what a business plan is but a good business plan does more than tell potential investors how you plan on making a profit.

A good business plan should also tell potential investors the likelihood of your business making a profit (which is very important to any investor) through your competitive analysis and your personal knowledge and experience.

A good business plan isn't only a planning tool but also a sales tool to convince investors to buy into your project. It has to be something that motivates investors to look at you and your business.

A good business plan, most importantly, has to be professional. It can be a rock solid business plan but if it's sloppy or filled with grammatical errors than most investors will think you're not ready personally.

A good business plan is a creative process that does more than give facts and figures and profit potential. A good business plan is your 7+ page elevator pitch to the world why your business will be a success.

TIP: Never get so deep into your numbers and projections that you forget you are still trying to sell and convince a skeptical audience. Always be honest, and always keep your excitement and motivation high even through the boring parts of your plan.

Hope this help

Nice post! Good luck in reaching your goals!

A business plan helps you stay focused on your goals Computer Repair Stockport

Thanks for post that wonderful article

I like your quote

Thanks!!

As regards business plan software, try some of online tools.

Here's one iPlanner.NET

This is great thread regarding business plan many of them shared their idea and their business plan over here. I would really more then happy to share my idea regarding business plan, business plan should be a living roadmap to success, not just a one-time document. There are many software available to plan business.

I like the way you have shared your definition of "Business Plan". Well defined buddy.

Thanks to share this useful information

Thanks