Helpful Hints

5 Tips for writing a Bank business Plan

helpful tips for usersOur helpful hints begin with a statement of purpose. You should be able to explain your business in 25 words or less.

Tell how your company will operate and why it will be successful. You should include a list of owners, the management team, and the staff.

Fill in your company details. Describe its product or services, the customers, the market, and the competition. List the managers with their credentials.

Supply three years of projected financial statements. Include income, profit and loss, and cash flow projections.

Provide supporting documents, such as references from creditors and potential clients and suppliers, evidence of insurance and the like.

Tips for Making the Most of Your Business Plan

Take the long view and complete long-term planning. Map out where you want to be in five years and how your plan to get there.

Work closely with the person or company that is preparing and writing your plan. You will learn more about your company by doing so.

Think of your plan as a living document. Review it regularly to make sure you are on track and make the necessary adjusts based on changes in the market place.

Share your document with others who can help you get where you want to go—such as lenders, key associates and advisors.

Understand that you might pay a price in the short run to obtain long-term company growth and wealth.