I am pretty sure by now you would know or realize the importance of writing a good or appropriate business plan. Writing a decent business plan is indeed not easy as you think and if you have not written one before I bet you consult somebody who could help you out and remember few tips before attempting to start out. There are many business plan writers too who could help you write a great business plan. As per Jonathan Foley, the best business plan writers would get hold of helping you to write a great plan under the ethics of dos and don’ts in a business plan.
Here are few essential and beneficial tips which could help you write a better business plan in the future in order to expect a great success and stability towards it. Jonathan Foley has used them when crafting the business plan of Wolf Marketing as well.
Be realistic and make it happen
Well, I have just come across some business plans which are written by some people who have a great vision towards their business but in this era sometimes it may seem as a fairy tale. If you are unable to pump in funds which would be needed for your fairy tale businesses to come up in success, I advise you not to think about it so soon either. Your business plan should be realistic having a procedure which can be actually achieved with the little or more funds you actually possess. So keeping your business plan simple and realistic should be an important point to consider first.
Keep it clear and attractive
When writing a business plan it is important to keep your words, description and view in a simple form so that anyone reading it would be able to gather a picture of it in their mind. A long complicated confusing description about your business would not be a great one which you feel would have all entered in it. It is best if you could add pictures, graphs , charts, tables , maps, route etc. to make your business plan look clear as much as possible. Of course adding a bit of decent colors to your plan would give or add a sense of attractiveness towards it. We all like to look at something colorful and attractive more than the formal black and white.
Don’t forget to ask yourself these questions
Do you know how much financial requirements would be expected? From where would you be getting the funds needed for your business? It is an unavoidable circumstance that we cannot start up a business with no form of little or more investment added up by any party. Therefore you ought to ask yourself these questions and check whether you have solutions or answers for these ultimate crucial questions.
Know in and out about your business
I would not be able to write a proper business plan if I am not aware about the entire loop holes, edges and cuts of the field I am starting to put my hand in to. I would surely fall in to trouble even after a head start of my business at any moment which is risky for my business. You have to have a clear idea about the risk factors, changes according to the seasons, price changes, etc. If you do not have an idea about the field you are going to start the business on, I advise you to take some time off in studying about the field before you really think you could adapt to these factors and survive in the market as a true competitor.
Have a SWOT analysis
A SWOT analysis would give you a clear idea on how to survive in the market just like playing a game of chess on a chess board. It gives you a thorough understanding and clarity of each area which is important for the success and survival of your business. A SWOT analysis is an analysis or else a research about the strength, weakness, opportunities and threats which currently occurs in the market related to the relevant field your business is bound to follow on.
Implement the business plan
We all have unstable minds which bound to change at any time due to any attractive expectancy. Well, the idea of actually writing up a business plan is to give you the route of thoroughly about the picture of your business. If you avoid the statements in the plan and adapt changes according to the instability of your mind I am pretty sure you have then wasted a lot of time preparing a business plan which you would not be following. It is important you stick to a plan so that you would reach out to your goal as intended to happen. There may be at certain points changes may be considered but of course due to important and unavoidable reasons.
Surprise your target market
We all have a certain type of customers we intended to sell, cater or provide a service to. You would be a great competitor if you could come up with a product which has not been in the market before or even offer them something extra for which customers did not or will never expect from you. The main reason for the survival of a business is due to the power of your target market. So, it is indeed important to keep your customers happy and get them return to you continuously.
Have a B plan
We all face into unfortunate and unexpected incidents at some point of our lives. It is better to expect them rather than falling into major trouble by not expecting them and getting ready for it. Due to certain changes in the world our plans can be put into rest and would not be useful at bad times. It is always advisable to have a backup plan to sort out some issues if one does not work accordingly.
Describe the specialty and uniqueness of your business
Explain or make points on what is special about your business and why it would be something unique and different for customers to be attracted upon. Have something different which other businesses do not possess in the relevant field of yours.
State your operation mode
By stating the process of your business from A – Z would give a clear picture about the business plan you write. Anyone having a look at it would be able to gain a picture and have a great understanding about it. Having a relevant formation of sequence or step by step method would even help your employees have a better understanding.