Writing a Business Plan

So, you have decided to start up a new business. You begin to do some research and find that almost everything you read recommends that you produce a business plan. Why is this so? Because the benefits of compiling a business plan are numerous – not least, the fact that committing your thoughts to paper […]

Writing a business plan is one of the most important things an entrepreneur must do when starting a new business. However, writing a compelling business plan is easier said than done, particularly when time can be so precious. This article outlines the key resources available to UK entrepreneurs when preparing a business plan. Use them […]

The BBC2 show Dragons’ Den is now in its fifth series, and while the show is obviously edited to entertain (more than anything else), it seems as if the current bunch of contestants has not watched any of the previous shows! Week after week they appear – often repeating the mistakes of previous contestants. This […]

Introduction
The importance of business planning is widely documented; however, guidance as to what constitutes good business planning is less clearly defined. This article aims to redress that imbalance by describing 10 of the most common mistakes that occur in business plans.
While the business-planning process is in itself a very worthwhile pursuit, most business plans […]

One of the greatest misconceptions about business planning is that a business plan is useful only for start-ups. While start-up companies are indeed one significant segment of business planners, business planning is being utilised by an increasing number of companies as a means to manage growth better, to ensure new ideas have been assessed […]

Writing a business plan can seem a daunting challenge. However, this skill is a vital requirement for any entrepreneur or business seeking to increase their chances of survival. Here is a list of my top ten tips for writing that winning plan:
1. Write from the audience’s perspective
The starting point for any business plan should be […]

There has never been a better time to enter a business plan competition. However, despite a number of new competitions being launched in the UK in recent months, for many entrepreneurs, the rewards have not seemed sufficiently juicy to tempt them to submit an entry. The following five sections detail the reasons you should […]

Before writing a business plan, it is best to undertake some research to help you develop the various sections in the plan.
1. Research all the relevant sections
Before commencing with your business plan, make sure you understand the sections that are required, the purpose of the various sections, and the objectives of the plan. Products […]

Business planning is about results. You need to make the contents of your plan match your purpose. Don’t accept a standard outline just because it’s there.
What is a business plan?
A business plan is any plan that works for a business to look ahead, allocate resources, focus on key points, and prepare for problems and opportunities. […]

You need a business plan if you’re running a business. A business plan is like a map and a compass for a business. Without it you’re traveling blind. With a plan you set objectives, establish priorities, and provide for cash flow.
You need a business plan if you’re applying for a business loan. Most banks […]