How To Write A Winning Business Plan

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About The Book

This book is a guide on how to write business plans by yourself. It is hoped that with the required dedication and commitment, readers will succeed where many others have failed because our clients did not plan.

It takes much time and thinking to develop a business plan that investors will be willing to read and invest in. It usually takes professionals who charge large amounts of money to write Business Plans.

To make writing Business Plans less complicated and more comfortable for would-be entrepreneurs, the author has taken his time to produce this unique book which is a substantial deviation from the other books on Business Plans, which only answer the question “What Is A Business Plan?” without teaching readers in a very straightforward manner, “How To Write A Business Plan”.

The book also contains a detailed explanation of using Microsoft Excel to prepare financial projections. There are over 200 questions on all the various aspects of business investors will be interested in, grouped per chapter.

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How To Write A Business Plan

Millions of people worldwide look at the very successful entrepreneurs we can think of and dream of becoming like them. They have aspirations deep in their hearts to start their businesses and be their bosses. They harbour these aspirations and seek opportunities to manifest them by taking initiatives to identify business opportunities and investing hard-to-come-by funds to start businesses. They hope that they will be owners of successful companies within a few years to propel them to the heights of success and make their entrepreneurial dreams come true.

Since it is a fact that true career happiness lies in the freedom of doing the work we love, the work that is based on our hobbies and which we do effortlessly, there is no guarantee that we will succeed if we don’t take specific elementary steps. If we don’t do certain basic things that will bring our dreams of being successful entrepreneurs to fruition, we will not reach the heights of success we long for.

There is an old cliché that many people spend more time planning weekends, vacations, weddings and parties than designing their own lives. The same is true for businesses. Many people do not spend time planning their businesses before jumping headlong into the sea of uncertainty, which is the business world. They start their businesses based solely on their emotions, enthusiasm and optimism, only to realise a short while down the line that their companies have begun sinking. The cost of business failures is unimaginable as it goes beyond financial to most often emotional and, crucially, sometimes psychologically destabilising would-be entrepreneurs.

The book also contains a detailed explanation of using Microsoft Excel to prepare financial projections. There are over 200 different questions on all the various aspects of business investors will be interested in, grouped per chapter.

To avoid all this turmoil, the surest way is to write a business plan.

I’m sure you are wondering what a business plan is. Don’t worry; I will explain it to you in short words so you fully understand what I mean.

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Before building, architects draw out what the building should look like. Based on what they envisioned the business to be, they meticulously put their pencils, rulers, and measurement devices to draw a plan for the building. After they have successfully done this, building engineers go about the arduous task of construction based on the plan, which is made easier because they have a pictorial representation of what the building should be like and the dimensions needed for the sizes of the various areas of the building.

In the same vein, let’s assume you want to start a business selling computers when it comes to you. Based on your idea for the company, you should be able to determine the type of computers you want to sell, the brand of computers, the individuals to whom you want to sell these computers, determine why exactly you think that these individuals need your computers, know how much these individuals will be willing to pay for your computers, know where they are already getting their supply of computers from, know how much you will need to start the business, know how many computers you will need to sell at the end of every month to meet your financial obligations, understand at every point in time whether you are on course with being successful with your business or not. Once you have figured all these out on paper, you will have developed a very clear business plan that will prove to any investor you know what you are about and have charted out the course of success thoroughly.

Once you have this business plan in hand, you will be able to properly run the business as you would have had specific targets to meet as enumerated in your plan. When you are not meeting these targets, you will find it hard to fulfil your financial obligations, and that is where the pressure of having your business fail will start to build up.

What The Book Teaches You

How To Write A Business Plan

Determine if your business idea will make money and be successful
Estimate all your operating expenses
Prepare your cash flow
Forecast your profit and loss
Determine all the total assets, liabilities and net worth of your business
Find potential sources of funding for your business
Estimate if you should borrow from friends or family, banks or a venture capital firm
Professionally present your self-written business plan to lenders and investors

How To Write A Business Plan

This book is in two parts the narrative section and the financial forecasting section. The narrative is the body of the business plan and contains more than 200 different questions divided into several sections. Work through the areas in any order you like, except for the Executive Summary, which you should do last. Skip any questions that do not apply to your business.

When you have finished answering all the questions, you will have a collection of small essays on each section of the business plan. You have to put all of these together into a flowing narrative in several paragraphs to form your business plan, as is done in the sample business plans in the book.

The financial forecasting chapter guides how to develop your financial projections. With your basic knowledge of accounting and Excel, follow the explanatory notes, and you will end up with very comprehensive financial projections that you can present to any prospective investor.

The real value of doing a business plan is not in having the finished plan in hand but in the process of researching and thinking about your business systematically. The act of planning helps you think through your business idea thoroughly, study and research when you are unsure of the facts, and look at your ideas critically. It takes time but avoids costly, perhaps disastrous, mistakes later.

It typically takes several weeks to complete a good plan. Most of that time is spent researching and rethinking your ideas and assumptions. But then, that is the value of the process. So make time to do the job correctly—those who do never regret the effort.

Finally, keep notes on your sources of information and the assumptions underlying your financial data.

Features Of The Book

How To Write A Business Plan

Over 200 different questions on all areas of your business. This will give you the benefit of thinking through every area of your business. You will be able to anticipate any challenges even before they occur and find solutions for them. Things about your business you may not have thought about will be brought to your immediate attention.
A step-by-step guide to developing your financial projections. With these books, you don't need to be an expert in financial accounting to develop your own set of financial projections. The explanations have been made very basic, so the highest novice in accounting will be able to do this. All you will need is your Microsoft Excel spreadsheet, and you will be on your way to developing your financial projections without the help of accountants who will charge you so much money for something you could have done yourself easily.