Chapter 3: Writing a Business Plan

In This Chapter

check.png Defining the business plan

check.png Understanding strategic plans

check.png Writing a white paper business plan

check.png Writing a new venture plan

In Book VI, Chapter 2, I describe how to create a pro forma plan of business financial forecasts by using the bizplan.xls workbook, which can be downloaded from www.stephenlnelson.com/bizplan.xls. If you do create a forecast, you probably also want to create a companion business plan. For this reason, you also need to know about writing such a plan. I don’t go into tedious detail about how to do this. I just provide you some useful information about business plans, and I give you some tips about how to more easily write a workable business plan.

What the Term Business Plan Means

In truth, the term business plan actually refers to three separate things:

A strategic plan: A discussion or description of a firm’s overall strategy

A new venture plan: The fund-raising document that entrepreneurs use to promote a new venture to investors

A white paper plan: The 50-page or even 100-page document that a business owner ...

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