Whether you are writing a business plan for your bank manager, business link, the BBC’s Dragons’ Den or for the internets Dragons’ Den at inbizvest.com there are key things that need to be included whatever the intended audience.
Now some entrepreneurs think they don’t need to write a business plan unless someone is asking for one, well you absolutely do need to write it. The process of writing your business plan is key to the success of your business and often brings reality to bear on your idea. Just having it in your head is not enough, in black and white is the only way to really understand how the business will work. The amazing thing is that in your head you have revenue figures and costs but when you put them into a spreadsheet you suddenly realise they are not as realistic as you thought. So if you only do one thing before you start your business write a plan.