Starting a Business For Dummies, 4th Edition

Chapter 6

Preparing the Business Plan

In This Chapter

Turning your ideas into plans

Satisfying financiers’ concerns

Making your plan stand out

Using software

Preparing to pitch

Perhaps the most important step in launching any new venture or expanding an existing one is the construction of a business plan. If the 2 million plus results that come from putting those words into Google are anything to go by, plenty of interest in the subject exists, and rightly so. Such a plan must include your goals for the enterprise, both short and long term; a description of the products or services you offer and the market opportunities you anticipate; and finally, an explanation of the resources and means that you need to achieve your goals in the face of likely competition.

Preparing a comprehensive business plan along these lines takes time and effort – the Cranfield School of Management estimates anywhere between 200 and 400 hours, depending on the nature of your business and how much data you’ve ...