How To Write A Business Plan
“You need to write a business plan,” the enterprise agency will say, and they are write. Many people believe that writing a business plan is simply a way to appease the bank manager and secure that all important loan but there’s more to it than that,
A business plan forces you to question your business model and scrutinise the detail, not just look at it through rose colored spectacles. You will question yourself and be harder upon yourself than you have ever been. But it’s not just about asking yourself whether your sales forecast is correct, you will also look at your cash flow forecast, how quickly money comes in and how quickly money flows out. This will determine your working capital requirements and therefore allow you to secure the right level of business overdraft.
Get the above right and not only will you be able to talk confidently and secure the right level of funding for your business venture, you won’t be continually returning to the bank asking for more (something that banks find very worrying).
The best bit about a business plan is that it allows you to do sensitivity analysis. What if your sales line is 10% higher or lower than forecast? What if your costs vary by a similar amount?
There’s lots to be gained and nothing to be lost so learn how to write a business plan using the link below:-
Writing A Business Plan - See the true potential of your business today.
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