qprev_HBB Manual 2.qxd - Small Business BC

that lender. This may save you the work ofreorganizing your business information forpresentation later.Composing the DocumentCreating text is easy for some people, hard forothers. Words are communication tools. Learningto use them effectively is the same as for othertools – it requires practice, and the more you uselanguage as a tool, the better yourcommunication will be.Even if your writing skills are weak, produce arough/draft version of your business planyourself, so you have done the initial thinkingand organizing. If you do hire a professionalwriter or business consultant to produce a finalversion of your written business plan, workclosely with that person throughout the process.This is important as you need to be familiar withyour plan – you will probably have to explain itto business contacts and lenders. The strength ofa business plan as a communications toolbecomes clear at such a time.Presenting the PlanHow a finished business plan looks will influenceits effectiveness. If your product is printed, thepresentation basics include a clean and completeprinted copy in correct order, with covers, a titlepage and table of contents inside the front cover.If your product is electronic, such as an e-mail ordisk, the finished business plan should representyour business standards and convey your chosenbusiness image.would rather see a hand-written plan that he orshe knows is yours than a fancy CD presentationof someone else’s ideas. You need to be familiarwith the plan because you will probably have toexplain it to business contacts and lenders. Thestrength of a business plan as a communicationstool becomes clear at such a time. You candepend on it to help you present the necessaryinformation about your business in a clear,logical way, thus making you more confident.The pressure of making a presentation is reducedbecause you have a plan with back-updocumentation.Updating the ContentsA business plan is so important in establishingand managing a business that preparing afinished version is only a step along the way, notthe end of the process. Once your business planhas been produced, it can be revised regularly –at least once a year. Managing a business with acurrent business plan is much easier than withoutone.What to include in a Business PlanThere are as many approaches to planning asthere are businesses. Basic information may bepresented in various ways in a written businessplan. You may find that it is organized indifferent ways in resources and guides tobusiness planning. While there is no one rightway, a good business plan covers all theinformation necessary to understand the business.Presenting a business plan involves more thanmaking and sending off good copies. A lender28solutions for small business home-based business