Jan
3
A Guide To Writing Your Infopreneur Business Plan
January 3, 2008 |
“If you fail to plan, then plan to fail”.
That’s a very apt saying for all infopreneurs. Business plan writing is critically important to your infopreneur business.
Writing a business plan gives clear shape, focus and direction to your plans, hopes and ambitions for your business. Where you were once vague and unclear, you will find yourself steady and goal-oriented when you have finished writing your business plan.
And as an infopreneur, you could even set yourself up as a specialist at business plan writing - for others.
To learn business plan writing, you need to first understand the various components of a business plan, and how to go about creating one for your own business, and possibly for your clients too.
The Steps In Business Plan Writing
There are certain well defined parts of a business plan. Business plan writing involves creating a document that contains all these parts and embodies the guiding philosophy, goals and targets of the business.
In business plan writing, prepare to cover these parts:
- executive summary
- table of contents
- company description
- market analysis and marketing
- technology - research, development, trends
- business operations
- management and ownership
- organization and personnel
- funds required and their use
- financial data
- administrative considerations
- appendices
Tips To Effective Business Plan Writing
To make sure you come up with a document your business (or your client’s business) will use and refer to actively, make sure you follow these tips.
- Understand your audience. Business plan writing involves insight and knowledge about the person it will be sent to. A business plan will be tweaked differently for investors and for joint venture partners.
- Research your market and competition. Analyze what each of them does, and see how you are different or unique - or how you can become so.
- Get proper documentation. You don’t want to state something in the business plan you are writing without proper proof and statements to back them up. Where you cannot convincingly prove the truth of your assertion, be cautious or even totally omit that part.
- Be conservative. It is better to under-promise and over deliver than vice versa. If you go overboard, you will lose credibility with the person reading your plan.
- Be realistic. Giving reasonable estimates of business growth, profitability and increasing your customer base indicates that you understand your marketplace and the dynamics of your business.
- Logic is your friend. Bankers and accountants are super-logical. To appeal to them, speak their lingo.
- Get your management team in place. Having a great business plan without an equally good team to execute it has no value at all.
- Detail your assets. Expand and discuss your facilities, resources, finances, the skills and experience of team members who will work with you and how your business will leverage these assets to grow rapidly and steadily.
- Make a professional presentation. Create a good looking document, with informative section titles, covering all essential areas without being to rambling, long and boring.
Business plan writing involves adhering to these ‘rules’, following these ‘tips’ and creating a document that not only represents the strategy and action plan of the business but is also a professionally crafted presentation useful in raising funds or attracting partners.
Business plan writing is skilled infopreneur activity. If you are serious about getting involved with business plan writing, be prepared to study the process, practice constantly and seek steady improvement until you become an expert at it.
Internet infopreneur Dr.Mani Sivasubramanian has helped hundreds of business owners build online information empires. He shares powerful tips, ideas and secrets about achieving success and building massive wealth from information products in his “Internet Infopreneur Tips” ezine. Register for free at InfoProfitz - http://www.InfoProfitz.com/ad.htm - or send any email to infopre-tips@aweber.com
Article Directory: Article Dashboard
