A Business Plan is a detailed depiction of a business idea that includes several sections outlining current or projected performance measures for a particular company/start-up. The important thing is to get started as soon as possible as your plan will serve as the blueprint for your business and is likely to be needed whenever you approach funders, banks, lenders, investors or business partners. While it is good to work from a template, make sure that you focus on areas of the plan that relate specifically to your business.
Any business hoping to raise funds, either with the help of loans or through venture capital, needs a plan. Having confidence in your business and in yourself will assist you in demonstrating the potential for your company and in being able to deliver what your investor is looking for.
Write the executive summary last: The executive summary can be the most important section of your business plan, because people will read it first and it may be the only section that is read. Although the executive summary is the first section of the plan, it is a good idea to write it last; after the other parts of the plan have been finalized.
Keep in mind that your initial plans will undoubtedly change as your business grows. Once you have a general form, you can spend time proofreading your plan and correcting mistakes. For many people, the most difficult part of creating the business plan is actually getting started.
In such situations one may need to develop two versions of the business plan: a stripped down plan that can be used to develop a relationship and a detail plan that is only shown when investors have sufficient interest and trust to sign an NDA. Focus on what makes your business unique and draw attention to the best parts of your business.