How to make a business plan?

[sunnydelight]

I have a bit of an idea for a business but really do not have a clue where to start so I went to see my local bank, and basically have been told that I really need to come up with a business plan.



So how do I go about this? Is there any how to guides out there, or any advice from fellow PHers who have gone through the same thing would be much appreciated.

[SAM_R]

Business Link is ok for templates etc.

[sunnydelight]

is that a website?

[BaconBonce]

Definately check out Businesslink - great resource for information if you are justing starting out.



http://www.businesslink.gov.uk 

[sunnydelight]

BaconBonce said:

Definately check out Businesslink - great resource for information if you are justing starting out.



http://www.businesslink.gov.uk 

Thats a great link thanks alot!



is there a place out there that could make me a half decent business plan, im sure if i attempt it most banks will just laugh!

[igiveup]

Download this and it may well help



http://www.natwest.com/business02.asp?id=BUSINESS/...

[JustinP1]

sunnydelight said:

I have a bit of an idea for a business but really do not have a clue where to start so I went to see my local bank, and basically have been told that I really need to come up with a business plan.



So how do I go about this? Is there any how to guides out there, or any advice from fellow PHers who have gone through the same thing would be much appreciated.

From experience with 4 major high street banks, your business plan is not important.



If you were a business whizz-kid, would you work for a bank?



Exactly. They look at a couple of figures in the profit and loss forcast as this is what needs to be typed into the computer, they categorise your business into a sector to get a 'risk figure' and finally ask you to personally guarantee any finance.



The main reason to do a business plan is *for yourself*.



Work out your potential costs and what you need to live off whilst still making sure you have the cash to buy stock etc, and keep things going. if you need to borrow to be able to cover a potential shortfall in the future, I would recommend a personal loan before you start and keep the funds in a high interest account. That way you have the funds there exactly when you need it, as the last thing you want is to plan to get a loan and when you come to need it you get rejected and your business crumbles.

[sunnydelight]

Thanks Justin good advise there, the natwest guide is quite good actually and covers most of the basics

[osteoadam]

have a look at peter jones's ( from the dragons den ) website, he has some really useful templates for businiess set up.
www.peterjones.tv

[Sparkling]

Hi SD - drop me a PM if you like, I'm in the process of starting to sell my services for helping people write business plans and develop a clear strategy for where they want to go. I'd be more than happy to give you a few pointers - all free of charge!

My background is 10 years sales and marketing, an MBA, awards for writing business plans and two successful businesses.

Somebody up above said to write it for yourself and they are spot on, but knowing what you need to include and how to tie it all together is vital. You also need confidence in what you have written as once you start your business, it is very tempting to get diverted too far away from your main goals.

[Pappa Lurve]

Business plan is utterly essential! Peter Jones site does have some good tips. I got a lot of advice from Peter to help me write a business plan about 3 years ago and have written several since then. Depends on excatly what funding you are seeking. If you want a loan then that is fairly easy. If you want VC then it is a whole different ball game!