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10 Tips for creating a business plan

10 Tips for creating a business plan
Do not know what to include in this document? We share the points you should and should not put you to get what you want. When it comes to the content of your business plan, these 10 tips can help:

1. Know your competition.

Get ready to name and know what makes you different (or better) than each of them, but not despise.

2. Know your audience.

You can do several versions of your business plan, one for venture capitalists and another for companies that may want to start a business with you instead of finance your.

3. Ten evidence to back up any claims you make.

If you expect to be the leader in your field in six months, you must specify why you think this. If you say your product you must conquer the market support this argument with facts. If you say your management team is qualified to make the business a success make sure these people demonstrate their experience.

4. Be conservative in all financial projections and estimates.

If you’re sure it will capture 50 percent market share in the first year, you can tell why you think this and assume what the numbers are. Do your financial projections in a more conservative way, for example 10 percent of the market is more credible.

5. Be realistic with time and resources.

If you are working with a large company you might think that things will go faster than normal once you yourself have to buy groceries, write checks and answer the phones.

Being overly optimistic time and resources is a common mistake many entrepreneurs make. Being realistic is important because it gives credibility to your presentation. Always assume that things will take a 15 percent more time than you anticipated, therefore 20 weeks will be 23 weeks.

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6. Be logical.

Think like a banker and write what they would like to see.

7. Have a strong management team.

Make sure you have good credentials and experience. The members of your team does not have to be work there, but need to know what they have done and compare it to what you need to make your business work.

8. Document why your idea will work.

Do others have done something similar and succeeded? Have you made ​​a prototype? It includes all the variables that may have an impact on the outcome or result of the idea. It shows why some variables do not apply to your situation or explain how you intend to overcome them or make them better.

9. Describe your facilities and location for the job.

If you need expanded reports when, where and why.

10. Discuss payment to investors.

Some investors want a role in which their participation is needed, others put on your table partners and other directors do not want involucres activities. All investors want to know when they will get their money back and what interest rate you receive. Most look departing between three to five years. Give a brief description of the options for investors or at least mention that you are ready to discuss options with some serious prospect.

This is what you must not include:

1. Form over substance.

If your document looks good but does not have a solid basis in fact and research is better than saving start-up time.

2. Complaints empty.

If you make a statement without resting with one argument is better than leave it out. You need to tell the next thing is to some statistics, fact or even a phrase from a known source to support the complaint.

3. Rumours about the competition.

If you are sure that your competition is going out of business, you can mention but avoid hearing their weaknesses or gossip. Stick to the facts.

4. superlatives and strong adjectives.

Words like “best”, “awesome”, “amazing”, “outstanding”, “great”, “great” and “fabulous” should not be in the plan. Evita “unique” unless you can prove with facts that no other product or service alike.

5. Long documents.

If readers want more, they will ask you.

6. Overestimating your financial projections.

Surely want to look nice, but resists optimism. Use half of what you think is reasonable. It is better to underestimate than having expectations that are not true.

7. Time overly optimistic.

Ask around or research on the internet. If the majority of the companies it takes between six and 12 months work, the same time you take yourself. You will face delays do not know and that you can not control.

8. Gimmicks.

Serious investors want facts, not gimmicks. Perhaps chocolate rose that came with the eating plan, but that does not make them interested in investing in your project.

9. Financial Projections amateurs.

Spend some money and hire an accountant to do this for you. It will help you see the financial side of the business and put the numbers in a standard format known business investor.Do not know what to include in this document? We share the points you should and should not put you to get what you want.

When it comes to the content of your business plan, these 10 tips can help:

1. Know your competition. Get ready to name and know what makes you different (or better) than each of them, but not despise.

2. Know your audience. You can do several versions of your business plan, one for venture capitalists and another for companies that may want to start a business with you instead of finance your.

3. Ten evidence to back up any claims you make. If you expect to be the leader in your field in six months, you must specify why you think this. If you say your product you must conquer the market support this argument with facts. If you say your management team is qualified to make the business a success make sure these people demonstrate their experience.

4. Be conservative in all financial projections and estimates. If you’re sure it will capture 50 percent market share in the first year, you can tell why you think this and assume what the numbers are. Do your financial projections in a more conservative way, for example 10 percent of the market is more credible.

5. Be realistic with time and resources. If you are working with a large company you might think that things will go faster than normal once you yourself have to buy groceries, write checks and answer the phones.

Being overly optimistic time and resources is a common mistake many entrepreneurs make. Being realistic is important because it gives credibility to your presentation. Always assume that things will take a 15 percent more time than you anticipated, therefore 20 weeks will be 23 weeks.

6. Be logical. Think like a banker and write what they would like to see.

7. Have a strong management team. Make sure you have good credentials and experience. The members of your team does not have to be work there, but need to know what they have done and compare it to what you need to make your business work.

8. Document why your idea will work. Do others have done something similar and succeeded? Have you made ​​a prototype? It includes all the variables that may have an impact on the outcome or result of the idea. It shows why some variables do not apply to your situation or explain how you intend to overcome them or make them better.

9. Describe your facilities and location for the job. If you need expandirte reports when, where and why.

10. Discuss payment to investors. Some investors want a role in which their participation is needed, others put on your table partners and other directors do not want involucres activities. All investors want to know when they will get their money back and what interest rate you receive. Most look departing between three to five years. Give a brief description of the options for investors or at least mention that you are ready to discuss options with some serious prospect.

This is what you must not include:

1. Form over substance. If your document looks good but does not have a solid basis in fact and research is better than saving startup time.

2. Complaints empty. If you make a statement without resting with one argument is better than leave it out. You need to tell the next thing is to some statistics, fact or even a phrase from a known source to support the complaint.

3. Rumors about the competition. If you are sure that your competition is going out of business, you can mention but avoid hearing their weaknesses or gossip. Stick to the facts.

4. superlatives and strong adjectives. Words like “best”, “awesome”, “amazing”, “outstanding”, “great”, “great” and “fabulous” should not be in the plan. Evita “unique” unless you can prove with facts that no other product or service alike.

5. Long documents. If readers want more, they will ask you.

6. Overestimating your financial projections. Surely want to look nice, but resists optimism. Use half of what you think is reasonable. It is better to underestimate than having expectations that are not true.

7. Time overly optimistic. Ask around or research on the internet. If the majority of the companies it takes between six and 12 months work, the same time you take yourself. You will face delays do not know and that you can not control.

8. Gimmicks. Serious investors want facts, not gimmicks. Perhaps chocolate rose that came with the eating plan, but that does not make them interested in investing in your project.

9. Financial Projections amateurs. Spend some money and hire an accountant to do this for you. It will help you see the financial side of the business and put the numbers in a standard format known business investor.

Note:

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