Business Plan Purpose Of
Why do you need a business plan and how do you write one?
My family and I are opening up a bridal/wedding boutique complete with bridal, groom and attendant attire, accessories, alteration servies and event planning & coordination services. What is the purpose of writing a business plan and how would we write one for this type of business?
The business plan consists of a narrative and several financial worksheets. The narrative template is the body of the business plan.
The real value of creating a business plan is not in having the finished product in hand; rather, the value lies in the process of researching and thinking about your business in a systematic way. The act of planning helps you to think things through thoroughly, study and research if you are not sure of the facts, and look at your ideas critically. It takes time now, but avoids costly, perhaps disastrous, mistakes later.
This business plan is a generic model suitable for all types of businesses. However, you should modify it to suit your particular circumstances.
You will be judged by the quality and appearance of your work as well as by your ideas.
Here are the headings to consider :
I. Table of Contents
II. Executive Summary
III. General Company Description
IV. Products and Services
V. Marketing Plan
VI. Operational Plan
VII. Management and Organisation
VIII. Personal Financial Statement
IX. Startup Expenses and Capitalisation
X. Financial Plan
Stanford’s Entrepreneurship Corner Tom Byers, Stanford Technology Ventures Program Purpose of a Business Plan
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