1. Create an Effective Business Plan

2. Objectives
Research your business plan.
Organize your business plan.

3. Research the Business Plan
Pulling together the information you will need to write your business plan involves researching all aspects of your business.

4. Print Resources Books on: Entrepreneurship Marketing Financing
Hiring and managing a staff
Purchasing a business
Operating a franchise
Some books will contain sample business plans.

5. Magazines may also prove helpful, especially magazines devoted to small business ownership and the industry you’ll be competing in.
Government documents, including publications issued by the Small Business Administration (SBA)
The SBA district office nearest you will have publications to help you complete your business plan

6. Online Resources
Much of the information you can find in print resources is also available on the Internet.
Many magazine articles, and even some books, can be found on the Internet.

7. People Resources
People from many organizations can help you with your business plan.
Counselors from Small Business Development Centers provide free one-on-one assistance in developing a business plan
Workshops are also provided on topics to help develop your plan

8. Service Corps of Retired Executives (SCORE)- 12,000+ retired executives volunteer their time to help younger entrepreneurs
Provide free confidential advice
Can set up a meeting or work online

9. Additional Resources
Many Internet sites provide information on writing business plans, including several sites that take you through the business plan step by step.
Some allow you to ask questions
Trade association- organizations that promote certain types of businesses

10. Checkpoint>>
What resources are available to help you develop your business plan?

11. Put Your Business Plan Together
Your business plan is your best opportunity to let other people know what you want to do with your company.
Allows you to convince them your idea is sound and you have the talent and resources for your business to be successful
To make the best of this opportunity, you will want to create an attractive document that is neat, well organized, and inviting to read.
Handwritten business plans are not acceptable

12. Introductory Elements
Every business plan should begin with a cover letter, a title page, a table of contents, a statement of purpose, and an executive summary.

13. Cover Letter
Cover letter- provides more information about a document or set of documents
Should include:
Your name
Business name
Your address and phone number
Brief description of business and its potential for success

14. Title Page Should include: Name of company Date Owner of company
Title of owner
Address and phone number of company

15. Table of Contents
Table of contents- listing of material included in a publication which shows the reader what each page covers

16. Statement of Purpose
Statement of purpose –briefly describes why you are asking for a loan and what you plan to do with the money

17. Executive Summary
Executive summary- short restatement of a report which captures the interest of its readers
Should be no longer than one or two pages
Should:
Describe your business concept and communicate what is unique about your idea

18. Include your projects for sales, costs, and profits
Identify your needs – inventory, land, building, equipment, etc.
State the amount you are interested in borrowing
Although the executive summary appears before the content of the business plan, it should be written after the business plan is completed

19. Main Body of Your Plan Should include:
history and background of your idea
goals and objectives for your company
products or services you will offer
form of ownership
management and staffing
marketing
current and projected financial statements

20. Appendix
Includes any supporting evidence that was not included in the body of the plan
Examples of what may be included in the appendices:
your resume
personal financial statements
income tax returns
copies of any large sales contracts you have already negotiated
letters of recommendation
legal documents

21. Checkpoint>>
What is the purpose of each part of a business plan?

22. Assignment
THINK CRITICALLY
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