Startup Howtos: How to develop a business plan?
You may be experienced in writing essays and homework reports, yet how about writing business plans for your own company? You may make reference to the writing tips and templates below for developing a detailed business plan to assist the entire planning process of starting a new business as well as to pitch and apply relevant startup funds.
- Objectives and Goals
- Industry Overview
- Competitors／Market Positioning
- Description of Products and Services
- Marketing Strategies, Pricing and Promotion Strategies
- Financial Planning
- Contingency Planning
- Company Structure and Background of the Management Team
Make your business plan user-friendly, easy to read and understand.
- Use figures, percentage and quantifiable information along with descriptions and interpretations.
- Tailor your business plan for specific reader. For instance, you should focus on cash flow adequacy for banks and potential return with payback period for investors.
- Follow a complete structure to present your business in an organised way.
- Include a general market overview / market analysis to show your understanding of the industry and your business position.
- Emphasise your business uniqueness, strengths and competitive advantages.
- Develop realistic but aggressive projections, explain use of fund and expected payback period.
- Complete all the sections of a business plan first, then put all the highlights in the Executive Summary concisely.
- Review and edit before presenting it.
“Startup How-tos” is an introductory guidebook written for entrepreneurship newbies, providing startup tips and related public services information.