The Easy Way to Write a Successful Business Plan

Basically, a business plan is your road map for how you expect to succeed and how you'll measure success. Unfortunately, it is usually only followed or actually used during the initial start up phase for things like funding, obtaining venture capital or snaring investors, banks and other partnered resources. A huge mistake. A smart businessperson will keep their business plan handy throughout the course of their business lifetimes and review it monthly. It is the bible they must adhere to and never misplace. It is also a "living document" that will change or evolve as your business grows and should be thought of as your company's life blood.

Here is a quick nine-step guide to what you will need in your company's business plan:

AN EXECUTIVE SUMMARY OUTLINING GOALS AND OBJECTIVES. The executive summary introduces your business strategy and is probably the most important section for lending institutions. If you can't persuade a loan officer in the first two or three pages that you've got a viable business proposal, you're going to leave empty-handed. It's just that simple folks. This summary is also important as a communication tool for employees and potential customers who need to understand - and get behind - "your" ideas.

A BRIEF ACCOUNT OF HOW THE COMPANY BEGAN. Clearly explain the origins behind the company's creation and how you or your business associate(s) came up with the idea to start your business.

YOUR COMPANY'S GOALS. Explain in a few paragraphs your short - and long - term goals for the company. How fast do you thik it will grow? Who will be your primary customers?

BIOGRAPHIES OF THE MANAGEMENT TEAM. The management section should include the names and backgrounds of lead members of the management team and their respective responsibilities.

THE SERVICE OR PRODUCT YOU PLAN TO OFFER. A key aspect of this section will be a discussion of how your product or service differs from everything else on the market.