CHAPTER ONE – Do you need a business plan or proposal to attract investors or get a loan.
If YES, here is a sample template for writing a perfect business plan as a beginner.
This section is the last thing you will work on, but it is the first thing anyone looking at your business plan will see.
And because it can make or mar your fund-raising quest, it is very important to use it to create a good first impression in the reader’s mind.
I want to take the stress of writing a business plan away from you and most importantly, I want to teach you how to write your own personal business plan without hiring anyone. Yes, the reason I called it a personal business plan is because a business plan should be personal.
A business plan should not just be a file or document, it should be your dream in written form.For you and other entrepreneurs seeking third-party support, the business plan is the most important sales document that you will need to raise finance for your startup or small business.Although preparing a solid, comprehensive business plan will not guarantee success in raising funds or mobilizing support for your business, lacking one will always result in failure.However, your business plan should be a realistic view of your expectations and long-term objectives for your startup or small business.It provides the framework within which it must operate and, ultimately, succeed or fail.Whoever said you don’t need a formal business plan to start or expand your business was certainly not addressing those who need funds from creditors and investors.Like many successful businesses have done, you can launch your business idea without the benefit of a formal business plan—but this applies only if you have all the funds you need or you are just testing the business waters to see how it turns out.From the table of contents to the financial tables, a business plan covers a lot of ground.Just as no two businesses are alike, so also are business plans; some aspects of a plan will be more relevant to some businesses than to others.Writing your business plan is not the end of your business planning process because business planning is a never ending process.However, it’s an important intermediate stage (failing to plan can mean planning to fail).