Bicycle Business Plan

If you need seed money from a bank or friends and relatives, your business plan can help you make a great case. Financial projections describe where you plan to go.

to show prospective employees since you're still in the startup phase.

Maybe you think you don't need a template for writing a business plan.

After all, some entrepreneurs succeed without writing a business plan.

Don't try to "hype" your business--focus on helping a busy reader get a great feel for what you plan to do, how you plan to do it, and how you will succeed.

Think of it as a written elevator pitch (with more detail, of course).

Then work to accomplish your secondary objective by focusing on your readers.

Even though you may be creating a business plan solely for your own purposes, at some point you may decide to seek financing or to bring on other investors, so make sure your Summary meets their needs as well.

As a new company, you will likely be an unknown quantity in your market.

Setting up a joint venture with an established partner could make all the difference in getting your business off the ground. Maybe, after evaluating the competition, you realize your plan to be the low-cost provider isn't feasible since the profit margins will be too low to cover your costs.

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