In most cases, you are going to have to have a good business plan in order to get any type of business loan from a bank, investor, or credit union. They do not want to hand you money for something that seems destined to fail or something that looks like you have not put a lot of thought into. A plan for your business is simply a thorough write up of what you are going to do, what you need, how you are going to do it, and what is going to make you successful. That doesn’t sound simple, but if you have a good idea going, you can write up a plan to get that loan that you need.
If you have no idea what goes into a good business plan, you should first start looking for examples. You can use a model from a business like the one that you want to set up to start yours. You want to pay attention to all of the details included, and remember to check off what you have and what you do not yet have. If you have not thought about some things you find in a sample, start figuring that out before you begin to write your own. You do not want to copy a plan written by someone else, as your business is going to be different at least in some ways, but this is a good way to see what you are expected to include for review.
What you may find is that writing a plan on your own is hard. These are complicated if you do not know what you are doing. It is simple to find one to help you out, but you do have to write up your plan in the right way and it has to make sense. A good business plan lays out what you want to do with your new business in a sensible and streamlined way. That is not always easy, especially if you truly have a unique idea for a new business. Find someone to help you. A business start up consultant might be a good choice. They can help you get going with a plan that makes sense.
If you want your good business plan to work for you, edit it so that you are sure there are no mistakes. This means spelling and grammar should be perfect. You can use the spell checker or grammar checker on your PC or laptop, but remember that these are not perfect. They may not be able to tell you that you have used ‘their’ when the appropriate word should be ‘there.’ If these are not your strongest skills, hire someone to do it for you. If you know someone that will be willing to help for free, that’s even better. Just make sure someone does it before you present your plan to anyone.
Lastly, once you have put all you have into your good business plan and have made sure it is error free, make sure you make the presentation of your plan just as nice. If you do not yet have a logo for your new business venture, have one made up for the cover. Have it printed and bound so that it looks good and will not fall apart. If you can get a cover made with a logo, it’ll look more like you know what you are doing when you present your business plan to someone to secure funding.