Business Plan Template Free
Business Planning Tools To Increase Efficiency
Creating a new business plan can be a painstaking process. Arm yourself with resources and tools which will significantly speed your work on your business plan, even if it means investing some money up front in the process.
Industry Database or Report
Business databases and reports often include in-depth statistics about the industry you will operate within. Purchasing access to a database or report can give you vetted information without having to pull together data from dozens of sources in periodicals and online. Furthermore, some of the information you find will likely not be available anywhere online for free. Be sure that the report you are considering will be comprehensive enough for your purposes and try to read reviews or hear from others who have used the same company’s reports in the past before making your decision.
Plan Template
A business plan template provides a framework for your document within which you can insert text appropriate for your business. Using a template means not having to worry about the format and outline of your business plan, and will often give you example text which can guide your writing process towards the type of language you should be writing for your potential readers.
Financial Model
A financial model will often come with a plan template. This tool, often in Microsoft Excel, should offer a complete set of financial statements for a business similar to yours which can be adjusted automatically by changing revenue and cost assumptions on a worksheet. You save hours of work by using a pre-designed financial model like this. Look for one created by a company with a strong understanding of business planning as well as accounting principles. For example, the model should include a balance sheet which always balances out (assets equaling liabilities plus shareholder’s equity), no matter what assumptions are entered. Not having to worry about many of these accounting details saves your energy for choosing the right revenue and cost assumptions and explaining them in the text of your plan.
About the Author
Eric Powers is associated with Growthink, a Business Plan Consulting Firm. Since 1999, Growthink Business Plan Writers have developed more than 2,000 business plans. Call 800-506-5728 today for a free consultation. If you’re writing your own business plan, you can access a proven template, here: http://www.growthink.com/products/business-plan-template.
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