Simple Business Plan Templates For Entrepreneurs
A business plan template is an important tool, especially for an entrepreneur learning business plan format for the first time. These are some of the benefits of buying and using a template to create your business plan.
Shortcut For Outlining
A template will present you with a workable outline for your plan, giving you all of the major sections and subsections of the business plan in the order you should present them. All of the section headings and a table of contents will be prepared for you, saving you the time of creating this. With a template, you are more or less ready to jump into writing the text after you buy a business plan template.
Some business plan templates will come with text for a sample business within each section of the plan. This serves as a placeholder and, if well-written, a good example of the type of writing you must create. This should show you what a professionally written plan will look like and what questions must be answered in your own writing. Read the sample text carefully before starting your own writing so you are better prepared. Some templates include lists of questions for you to answer within each section rather than sample text. This can be just as useful, as the questions funders will want to see answered will be similar for most types of businesses.
Financial Statement Preparation
A business plan template should include an Excel financial model which facilitates the creation of financial statements, charts, and summaries for your plan and appendices. Using a template for this should save a great deal of preparation time as the basic outline for all of the statements should be prepared with formulas to automatically update the statements based on your changes to financial assumptions of revenues and costs. The time and skill required to set up a financial model like this is considerable. With it you can try out different types of projections and immediately see how this impacts your income statement, balance sheet, and cash flow statement.
Eric Powers is associated with Growthink, a business plan consulting firm. Since 1999, Growthink business plan writers have developed more than 2,000 professional business plans for entrepreneurs and business owners who have raised more than $1 billion in growth capital. Call 800-506-5728 today for a free business plan consultation. If you’re writing your own business plan, you can access a proven business plan template, as well as additional tips and advice, here: http://www.growthink.com/products/business-plan-template.