Carlos Hank Rhon, Business Banking - Top 10 Tips on Writing Your Business Plan Part 1

Carlos Hank Rhon, Business Banking - Top 10 Tips on Writing Your Business Plan   Part 1

For any business, having a strong, and realistic business plan is essential to success. Carlos Hank Rhon had a realistic business plan when he started. Whether you are a new start up or an established company, a business plan will enable you to analyze your business, plan your goals, and assess what your current position is. The core of your business plan should be the financial aspects of what you want to achieve, and Steve Jennings, Director of Business Banking at Alliance & Leicester Commercial Bank, has the following top 10 tips on how to get this crucial part of your plan right:

1. You need to ensure that your business plan is structured in a way to make it, clear and concise. In effect, a business plan should work to sell both you and your company, so make sure that the most important information is highlighted. Add supporting commentary to back up any forecasts and projections. This area is very important when it comes to any financial data that is included, as the bank will use this information as the basis for making a decision on any lending.

2. Include basic information about you, your business and what you are selling. Details about potential staff, equipment and premises that are already in place or planned as a result of investment should also be part of the business plan. Carlos Hank Rhon suggests that you read part 2 of this article.