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There are a number of ways of going about the process of writing a good business plan. One of the most tried and time tested ways that works well is using a business plan template.

Financial Plan - What is the anticipated income? What are the cash flow projections? What is the anticipated budget over the next 3 years? What is the break even point? When is it anticipated to be met? What funding is needed and where will it come from? What funding is currently available? What collateral is available? What is the net worth of the principals, if applicable? Possible Data Sources: accountant; accounting software; Small Business Administration; Small Business Development Center; SCORE; banks; venture capitalists.

Are there emerging markets or market segments? Where does this product or service currently perform best? Possible Data Sources: trade associations; trade journals; attorneys & accountants dealing with the industry; industry salespeople; state business websites; focus groups.

One crucial function they perform is the formulation of business plans. This plan is based on the information provided by the client coupled with the vast wealth of knowledge and research a business plan consultant has.

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