Writing a Business Plan

Although writing a business plan can be a challenge, the end result is a thorough analysis of your business idea. Plans usually take three-to-eight weeks to write, depending on the requirements for funding, need for a fully documented plan, and the complexity of the business. While there are software tools and templates available to make the process easier, time is mostly spent in research, writing and evaluation.

Typically a business plan is 10-20 pages in length, not including appendix items and covers management, operations, marketing, financial statements, production capabilities or service territories and other items as related to the business. The entire business plan is summarized into a one-or- two page Executive Summary, usually placed at the beginning of the document. Appendix items include management resumes, customer lists, equipment quotes, purchase agreements and other key documents that are necessary to operate the business.

The following resources will guide you through writing a business plan:

The U.S. Small Business Administration offers sample plans and outlines to help in writing a business plan. Use their website as a starting point for ideas, formats and research.

Before you begin writing your business plan, consider four core questions:

* What service or product does your business provide and what needs does it fill?
* Who are the potential customers for your product or service and why will they purchase it from you?
* How will you reach your potential customers?
* Where will you get the financial resources to start your business?

source: U.S. Small Business Administration http://www.sba.gov/starting_business/planning/basic.html

Business.gov also offers a variety of business plan writing, research and analysis information on their website. http://www.business.gov/phases/launching/write_business_plan/index.html

BusinessTown.com has a website that walks you though the plan based on the audience you wish to target for funding. The site also references software and resources available for purchase. http://www.businesstown.com/planning/creating.asp

Market Research - With effective market research, you can determine the need for your service, a product's likelihood to sell, target-market demographics, and desirable store locations. There are numerous ways to uncover this information -- from online research to focus groups to counting customers. To help you meet your target market's needs, we've put together a collection of our best market-research articles and resources. http://www.inc.com/guides/write_biz_plan/24018.html

Nolo.com is the nation’s leading provider of do-it-yourself legal solutions for consumers and small businesses. Their goal is to help people handle their own everyday legal matters -- or learn enough about them to make working with a lawyer a more satisfying experience. Nolo offers advice on starting a business and on writing a business plan. Within the site, you can also find financial information and calculators as well. http://www.nolo.com/resource.cfm/catID/E67C08E9-9FAE-4AD8-840371947878E573/111/228/289/

National City Bank has a business portal that includes business startup and growth guides as well as calculators for cash flow, loan amortization and business valuation. http://www.biznizportal.com/nationalcity/index.cfm

Huntington Bank offers sample Excel financial spreadsheets available for download at thier website. http://www.huntington.com/bas/HNB2656.htm

Guy Kawasaki, nationally known business expert, offers tips and insights into writing a plan in his blog at http://blog.guykawasaki.com/2006/01/the_zen_of_busi.html