Drafting a business plan has never been easy. These days, there is no need to start from scratch, because you can easily download a free business plan from the Internet. There are a host of websites that offer downloadable business templates, including business outlines, for free. Some websites also offer subscription to business templates for a minimal fee. But if you are trying to cut down your costs so you have more to spend when you need to get your business off the ground, you can settle for those downloadable business outlines for now. The only important thing that you need to keep in mind is that the business plan that you will download has to have the essential components. Otherwise, you may need to customize.
So what are the things that you should look for in a business template? Knowing these things is important as it raises the chances for the business to succeed.
First, you should look at the language and the tone of the business study. It is important that the document should be talking to the audience, and should not sound like the author thinking aloud. The objective behind developing a business case is primarily to get the right people to fund your business ventures. As such, it should talk mainly about the value that it will bring to investors. Talk about revenue projections, and remember to include the basis behind these projections. Be objective by presenting the challenges that you envision to face, but also have a solid game plan for getting past these challenges. Remember that at the end of the day, your investors need to be assured that they will get their money back, and their share of the profits.
Second, the free business template should be concise. It should keep your thoughts, ideas and figures framed within a structure, but it should also allow you to specify and explain where details are required. The key is to make sure that the reader is sufficiently informed and able to make the right decisions based on the information that you will provide. In essence, most business strategies are written by people who will be personally and deeply involved in running the operations of the business. As such, the document should also provide the readers with a sense of professionalism, objectivity and credibility. Make sure that the contents are accurate and clean, and free from typographical errors or grammatical lapses. If would also help if your business plan template is accompanied by a presentation deck.
Third, the business plan should have a meaty executive summary. The executive summary is doubtless the most crucial part of the business plan. It sums up the plan and is the first thing that readers see when they look at the plan. As such, it has to grab the attention of the reader right away and compel them to seriously consider reading the entire business plan.
You don’t have to spend a lot of money outsourcing the development of your business plan. If you know what you should communicate and you believe in your business venture, you can do as good a job using a free business plan as you can with an outsourced business plan.