When starting up a business your first step would be to create a business plan. A business plan is not a piece of fiction as some might say. This one document can be your key to success. Basically a business plan includes all the operational functions of a business, financial situation of the business, budgets, salaries, expected profits and the plans for the future. All of this is included in your business plan and it is a vital part of your starting-up procedure. But writing a business plan is not that easy. So for your guidance and help I’ll be giving you some tips and pointers on how to write an effective business plan. And for further help you can check out http://assignmentsweb.com . This is a company’s site which has been working for the past 7 years and has been providing writing assistance to its clients spread all over the world.

Ten things every business plan must have:

1.    Vision: what is it that makes your business unique amongst all the other similar businesses? Why is it important?
2.    Background: a history of what has happened to you or the people around you and why your business is such a good thing right now?
3.    Goals: your turnover, profits and number of customers that you want to achieve.
4.    People: your team – what is so special about them? On what basis are they selected?
5.    Products/services: what are your products/ why would people want them? What do you have that others don’t?
6.    Competition: are you aware of your competitors? Why are they a threat to you? How could you overcome that threat?
7.    Marketing: what markets are you targeting? Is there a market- a demand for your products?
8.    Funding: how will  you pay  for the venture? Who will invest and what would they get out of it?
9.    Measurement: how will you measure your performance?
10.    Life span : every business has a natural life span but what would you do with it later on?
These are ten things which you must include when writing business plans. Now coming to the point of business plan writing. How do you write a business plan.

How to write a business plan:

1.    First of all find out if there is a demand for the products or services that you want to provide. Research the markets, see which things are needed and which are not. Learn what has to be modified or removed. Learn what the people want. So the first step is targeting a market, an audience.
2.    Write down your targeted market then move to your products and services. Find out why your products would be unique and different. Do a bit of research and find out things which are missing in other companies and make sure you provide those things.
3.    Create a specialty. Become known for something special. Don’t try to handle different things under one single business. For instance if you are opening up a chain of restaurants then there is no sense in starting a construction business simultaneously a well. Choose one thing and carry it out perfectly.
4.    Include all your finances, profits, salaries, expenses and budgets in the business plan.