Guidelines For A Business Plan

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And while our site doesn’t feature every company or financial product available on the market, we’re proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward — and free. Our partners cannot pay us to guarantee favorable reviews of their products or services. " At Nerd Wallet, we strive to help you make financial decisions with confidence. A business plan can make or break a small business. [Back to top] An objective statement should clearly define your company’s goals and contain a business strategy that details how you plan to achieve them.

We believe everyone should be able to make financial decisions with confidence. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. It contains important information including its registered name, address of any physical locations, names of key people in the business, history of the company, nature of the business and more details about products or services that it offers or will offer.

[Back to top] List any supporting information or other additional information that you couldn’t fit in elsewhere, such as resumes of key employees, licenses, equipment leases, permits, patents, receipts, bank statements, contracts, and personal and business credit history.

If the appendix is long, you may want to consider adding a table of contents at the beginning of this section.

But you should also address the various risk factors of the business, Allen says.

“The loan officer is definitely going to want to know that you’ve thought through all of the potential risks and that you’ve mitigated those risks in some way,” he says.

Proofread: Spelling, punctuation and grammatical errors can jump off the page and turn off lenders and prospective investors, taking their mind off your business and putting it on the mistakes you made.

If writing and editing aren’t your strong suit, you may want to hire a professional business plan writer, copy editor or proofreader.

[Back to top] This is simply an explanation of what your marketing strategy is and how you will execute it.

Here, you can address how you plan to persuade customers to buy your products or services, or how you will develop customer loyalty that will lead to repeat business.

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