Writing
a business plan is the first step for any entrepreneur to work towards
increasing theire chances of survival. A business plan outlines the goals the
business aims to achieve through its operations during a specific time period.
This document can not only be used for personal use, but it is also a vital
tool to attract the attention of potential investors. Here are a few tips on
how to write a business plan:
#1 –
Target your audience – Locking down your target audience will help you think
from their viewpoint. It also assists in identifying the purpose of the
business plan. Will the document be used to garner funds? Is it meant to
showcase the growth chart of the company in the future? It is beneficial to customize
your business plan according to the audience you are targeting as each segment
would have diverse requirements.
#2 –
Do your market research – A true business person would always do a thorough
research before heading out into unpredictable territories. For a business
plan, it is recommended that a market analysis is conducted in terms of market
size, market growth, and market entry.
#3 –
Include numbers – The inclusion of numbers in your business plan should be
realistic and relevant to your industry. While you may have fixed costs in
place and well forecasted, showing numericals which specify the expected sales
volume highlight your plans of covering your costs. This increases reliability
of your prospective business.
#4 –
Focus on your executive summary - For
those who are short of time, an executive summary gives a brief overview of
what is to come in the rest of the sections of your business plan. If potential
investors are happy with what they are reading at the start of the plan, they
will proceed to read further.
Like
what you see but do not have time to implement these tips? Call our experts at
Writers.ae, one of the leading business plan writing services providers in
Dubai, UAE. contact us at 043554850 or leave an inquiry at info@writers.ae
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