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How to Prepare a Business Plan summary
Edward Blackwell
Your Guide to Creating an Excellent Strategy, Forecasting Your Finances and Producing a Persuasive Plan
17 mins
Brief summary
How to Prepare a Business Plan by Edward Blackwell is a practical guide for entrepreneurs to create an effective business plan. It offers a step-by-step approach and helpful advice for identifying opportunities, assessing risks, and developing a successful strategy.
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How to Prepare a Business Plan
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Key idea 1 of 6
A great business plan is a blend of several key ingredients.
Money doesn’t come easily. If you want to secure funding for your business, whether from a bank or a private investor, you’ll need to impress. That’s where your business plan comes in – a collection of pages with the power to set you and your ideas apart from the crowd. So just what ingredients go into the recipe for the perfect business plan?
Firstly, you’ll need to include an opening statement on what your business entails, the amount of money you want and what the funds are for. Make this brief – two sentences are enough.
Next, you’ll have to provide some insight into the market your business is aimed at. It’s a fact that most investors think business success relies on locating a sizeable market and selling to it. After all, you might have the best invention since Henry Ford’s automobile, but without any demand for your brainwave it’s still going to be a nonstarter. With that in mind, you should assume that this section will make the biggest impact on your audience.
After you’ve completed your opening statement and an analysis of your target market, you’re ready to give your reader some information about the person you know best: you. Make sure you include details of any relevant training or qualifications you have, as well as an overview of your previous achievements. Next, you’ll want to describe your product’s unique benefits for customers. Although you might have plenty you want to talk about in this part, it’s best to stick to accurate facts and precise figures.
In the final sections, you’ll need to tell the reader how you plan to establish your business and how you see it progressing over the long-term. As you get to work on this part of your plan, consider the following questions: How will I market my products or services? Who will manage the day-to-day running of my business? And where exactly will I carry out my work or produce my product? As you answer these questions, take care to make your plans sound concrete and sensible.
As well as explaining your start-up phase, it’s also important to address the longer-term prospects for your business. Potential investors need to know whether they are looking at a short-term venture or one that will keep being profitable for a long time. So ask yourself: Is this going to be a slow-growing business whose rewards will gradually accumulate, or will it burn fast and bright?
In the next blink, we’ll take a look at the financial information your business plan needs to set out.
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What is How to Prepare a Business Plan about?
How to Prepare a Business Plan (2017) explains how you can wow potential investors by making your business plan the best it can possibly be. Packed with insights into the world of entrepreneurship, these blinks give you immediately applicable advice to make your plan stand out from the crowd.
How to Prepare a Business Plan Review
How to Prepare a Business Plan by Edward Blackwell (2019) is an essential read for anyone looking to create a solid plan for their business. Here's why this book is worth your time:
- With its practical guidance and step-by-step approach, it provides readers with the tools they need to develop a comprehensive and effective business plan.
- By combining clear explanations with real-life examples, the book brings the concepts to life and helps readers understand how to apply them in their own business.
- Written in a concise and accessible manner, it ensures that the process of creating a business plan is engaging and not overwhelming.
Who should read How to Prepare a Business Plan?
- Business owners hoping to attract funding
- Budding entrepreneurs looking for inspiration
- Anyone dreaming of a career change
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How to Prepare a Business Plan FAQs
What is the main message of How to Prepare a Business Plan?
The main message of How to Prepare a Business Plan is to guide readers in creating an effective and comprehensive business plan.
How long does it take to read How to Prepare a Business Plan?
The estimated reading time for How to Prepare a Business Plan is several hours. The Blinkist summary can be read in just a few minutes.
Is How to Prepare a Business Plan a good book? Is it worth reading?
How to Prepare a Business Plan is a valuable resource for anyone looking to develop a solid business plan. It offers practical insights and guidance for success.
Who is the author of How to Prepare a Business Plan?
Edward Blackwell is the author of How to Prepare a Business Plan.
What to read after How to Prepare a Business Plan?
If you're wondering what to read next after How to Prepare a Business Plan, here are some recommendations we suggest:
- The Secrets to Writing a Successful Business Plan by Hal Shelton
- Write Your Business Plan by The Staff of Entrepreneur Media
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- Sapiens by Yuval Noah Harari
- Meditations by Marcus Aurelius
- Same as Ever by Morgan Housel
- The Mentally Strong Leader by Scott Mautz
- Be Obsessed or Be Average by Grant Cardone
- Good to Great by Jim Collins
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