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Business Plan Outline: Zahorsky identifies the next step as follows: “A business plan outline is the second most important starting point once you've pre-determined your audience. The business plan outline should be prepared before the actual research and writing of the business plan.” During this step, it is also pertinent for one to decide: “Who is your target consumer? Will it be men or women? Old or young? Individuals or businesses and corporations? Local consumers or long distance consumers?”
3. Research & Information Collection: In this step, Zahorsky says “Once you have made the decision of the type of funding your business requires, it is time for the research. Business plan research covers several areas: -Insight from your experience working and observing the industry you will enter. This data will have to be backed but by the next two sources. -Published information from library, Internet, and paid database services will provide information on the market growth, overall industry perspective, and customer profiles. -Field research covers interviews with customers, suppliers, competitors, and industry experts. This provides the real insight behind all the …show more content…
Executive Summary: The following tips from Zahorsky should be utilized in this step: “Save the first section for last. When you have thoroughly, completed all sections of the business plan, write the summary. Highlight the key points and include the return on investment or loan payback requirements”.
9. Review & Editing: “Remember, you only have one shot at making a good impression. A well-written business plan that opens doors and wins the money is a plan that has been revised and reviewed. Do not forget this important step. Ask others for feedback. Make certain to edit, proofread, proofread, and proofread. Business planning is not easy but by following these critical steps to writing a business plan, you will ensure your business has a chance at funding and success in the
3. Research & Information Collection: In this step, Zahorsky says “Once you have made the decision of the type of funding your business requires, it is time for the research. Business plan research covers several areas: -Insight from your experience working and observing the industry you will enter. This data will have to be backed but by the next two sources. -Published information from library, Internet, and paid database services will provide information on the market growth, overall industry perspective, and customer profiles. -Field research covers interviews with customers, suppliers, competitors, and industry experts. This provides the real insight behind all the …show more content…
Executive Summary: The following tips from Zahorsky should be utilized in this step: “Save the first section for last. When you have thoroughly, completed all sections of the business plan, write the summary. Highlight the key points and include the return on investment or loan payback requirements”.
9. Review & Editing: “Remember, you only have one shot at making a good impression. A well-written business plan that opens doors and wins the money is a plan that has been revised and reviewed. Do not forget this important step. Ask others for feedback. Make certain to edit, proofread, proofread, and proofread. Business planning is not easy but by following these critical steps to writing a business plan, you will ensure your business has a chance at funding and success in the