Business Plan Index

Business Plan Index-46
Citing your sources is critical to establishing your credibility and for remembering how you arrived at the conclusions and figures you present in your plan. Whenever possible, use government agencies, universities, authoritative books and articles, and primary sources such as interviews with experts or direct research of your customers.Websites you use should end in .gov, or occasionally if the organization is well respected.For example, a book in MLA style would be cited as follows: Ferguson, Niall. Evangeline Marzec is a management consultant to small high-tech companies, and has been in the video games industry since 2004.

Citing your sources is critical to establishing your credibility and for remembering how you arrived at the conclusions and figures you present in your plan. Whenever possible, use government agencies, universities, authoritative books and articles, and primary sources such as interviews with experts or direct research of your customers.Websites you use should end in .gov, or occasionally if the organization is well respected.For example, a book in MLA style would be cited as follows: Ferguson, Niall. Evangeline Marzec is a management consultant to small high-tech companies, and has been in the video games industry since 2004.

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She holds a Master of Business Adminstration from Thunderbird School of Global Management.

, the staff of Entrepreneur Media offer an in-depth understanding of what’s essential to any business plan, what’s appropriate for your venture, and what it takes to ensure success.

Facts—checkable, demonstrable facts—will invest your plan with the most important component of all: credibility.

A useful business plan can be any length, from that scrawl on the back of an envelope to more than 100 pages for an especially detailed plan describing a complex enterprise. Miniplans of five to 10 pages are the popular concise models that may stand on their own for smaller businesses.

If you’re forced to get information from sources of questionable reliability, make sure you specify in the text of your plan that the information is an estimate at best.

It's generally not a good idea to use Wikipedia as a source, so investigate the citations used on the Wikipedia article.Larger businesses seeking major funding will often have miniplans as well, but the full business plan will be waiting in the wings.It’s to your advantage to run long when creating your plan, then narrow it down for presentation purposes.These statements provide a model of how your ideas about the company, its markets and its strategies will play out.As you write your business plan, stick to facts instead of feelings, projections instead of hopes, and realistic expectations of profit instead of unrealistic dreams of wealth.The size of the plan will also depend on the nature of your business and your reason for writing it.If you have a simple concept, you may be able to express it in very few words.This is why the executive summary is often called the most important part of the business plan.If it doesn’t capture the reader's attention, the plan will be set aside unread - a disaster if you've written your business plan as part of an attempt to get money to start your new business.A business plan must be grounded in solid research that is verifiable by the lenders and investors who will read it.Additionally, you’ll often use the process of writing the business plan as a tool to help you better understand your own business and product.

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