Business Plan template - Lloyds TSB Middle East, banking, business

By Elizabeth Carroll,2014-07-09 09:22
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Business Plan template - Lloyds TSB Middle East, banking, business ...

There is no single recipe for success when you are starting up in business but one key

    ingredient for many successful start-up businesses is a well thought through business plan.

A good business plan should help you to:

    1. Clarify and think through the ideas that you will already have about your business.

    2. Identify the key strengths in your business idea, so you can build on these but also

    highlight important aspects that you might have missed or an area where you might

    need more help and advice.

    3. Present your business idea to another person; this will be particularly important if you

    are hoping to obtain finance of any sort for your business. A good plan should help

    someone to quickly understand your business and re-assure them that your ideas are

    well thought through and the business is viable.

    4. Check the progress of your business once it is up and running. If things aren’t going as

    expected, a plan should help you identify and deal with any issues quickly.

The following pages contain our business plan template which we have tried to make brief but

    comprehensive. Completion of the plan itself shouldn’t take too long, but you might find that it

    prompts you to do some more research, perhaps with your potential customers, before you

    launch your business. We have tried to make the plan useful for all types of businesses, but you

    might find some sections do not apply to you, in which case just miss them out. For example if

    you are setting up a consultancy business, the suppliers’ section may not be relevant.

The final pages of the plan provide a framework for an action list you should complete this as

    you work through your plan. Use your action list to record any ideas you have and capture any

    thoughts about things you have to do either before, or immediately after, you have started

    your business. This will help you make sure that your plan is a practical document that helps to

    get your business off to the best possible start.

Business plan an outline

Executive summary

    You may find it easier to complete this section last. It should contain a summary of the key

    points of your business plan and why you are confident your business will succeed. Some of the

    areas you might want to think about including are:

    ? What the business is.

    ? Who the key people are and what skills and experience they have.

    ? Why you think it will be successful.

    ? What product or service your business will be selling, and what your Unique Selling

    Point (USP) is.

    ? Some brief detail of the projected financial performance of the business and how it will

    be financed.

My Business

Business Name