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021 Tips For Writing Business Plan

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Executive Summary _ One to three pages that summarize all the information to follow; come back and write this last. Industry Analysis _ How does your product or service compare with what is currently on the market? What is the trend in the overall industry? What have been the total sales in this industry over the previous 3 to 5 years? What new products or technologies have had the biggest impact on this industry recently? What is the future outlook for these and what trends are emerging? Who are the competitors, where are they located, and how are they doing? What advantage do you offer over them? Who is buying this product or service now? Describe the typical customer for this product or service. Are there emerging markets or market segments? Where does this product or service currently perform best? Possible Data Sources: trade associations; trade journals; attorneys & accountants dealing with the industry; industry salespeople; state business websites; focus groups.

Plan Creation Process _ Typically, the process for creating a business plan goes like this: The client discusses their business with the writer and pays a deposit. The writer starts immediately on the business plan by creating an initial layout and inputting all the known information. This is followed by compiling a list of basic questions for the client to answer in point_form related to the details of the business. These questions are usually easy to answer within a day or two because clients already know the basics about their business. The writer then receives the answers and uses the information to create sentences and paragraphs and fill in the plan's content. Once the written parts are done, the writer will work with the business owner and a financial expert on the financial tables that will go at the end of the plan. Timelines vary greatly for creating a plan depending on the writer's experience, the business type, the detail required, and how much industry and market research is necessary. There may also be other factors. In most cases, however, a detailed plan can be created within 2ι weeks.

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