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It emphasizes realism, understanding customers and market conditions, and improving management through committing plans to writing. The workbook details an overall format with executive summary, business concept, marketing, operations, and financial plan sections, and highlights the central role of cash flow projections. 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C.  \nV9L 1R9  \nTelephone: (250) 746-1004  \nFax: (250) 746-8819  \nEmail: [info@cfcowichan.ca](info@cfcowichan.ca)[ ](info@cfcowichan.ca)[www.cfcowichan.ca](www.cfcowichan.ca)  \nTABLE OF CONTENTS PAGE  \nForward 3  \nPreparing a Business Plan 3  \n• Why prepare a business plan? 3  \n• Business Plan Format 4  \nPart I – Executive Summary 5  \nPart II – Business Concept 5  \n• Description of Industry 5  \n• Description of Business Venture 5  \n• Business Goals 5  \nPart III – Marketing Plan 6  \nPart IV-Operations 6  \n• Product Plan 6  \n• Production Plan 6  \n• Structure of Business Organization 6  \n• Risk Assessment 7  \n• Action Plan 7  \nPart V – Financial Plan 7  \n• Sales Forecast 7  \n• Cash Flow Projections 8  \n• Why do a Cash Flow? 8  \n• How Often? 9  \n• Cash Flow Projection Worksheet Instructions 9  \n• Funding Requirements and Funding Sources 10  \n• Balance Sheet 11  \nPart VI – Supplementary Documentation 11  \nPart VII – Approaching Lenders and Investors 12  \nPart VIII – Worksheet Attachments  \n• Worksheet \\#1-Sales Forecast  \n• Worksheet \\#2-Cash Sales & Accounts Receivable  \n• Worksheet \\#3-Cash Flow Projections  \n• Worksheet \\#4-Funding Requirements and Funding Sources  \n• Worksheet \\#5-Balance Sheet  \nCommunity Futures Cowichan 2  \nMay 2008  \nFORWARD  \nA business plan is your “blueprint” or “recipe” for building your business. It will focus your thinking and research and will identify and resolve potential problems before you begin business operations. Developing your business plan will help you to think through your business concept, and will enable you to identify your priorities and the path you will follow. A good business plan is an invaluable tool for any business owner, whether you are just starting your new business venture or expanding or changing strategic direction. Not only does it provide potential lenders, investors and business partners with essential information about your business, it also provides you, the entrepreneur, with a clear“roadmap” to follow and a tool to measure your future performance.  \nThis Business Plan outline has generally been developed for new business start-ups, however, it can easily be adapted for use by existing businesses. The outline has purposely been developed in a simple or basic format and accordingly, you may well have to expand certain areas or provide additional information, depending on the complexity of your business venture and/or the purpose for which you are developing your business plan.  \nA cash flow projection will become your most important management tool once you begin business operations. Accordingly, you should spend considerable time and effort to identify your probable cash flow before you begin operations. Your ability to manage cash flow will be your most important daily responsibility. Failure to manage cash flow will undoubtedly cause wasted time and energy handling upset suppliers and your banker’s concerns, rather than conducting business.  \nOnce your business plan and financial projections have been developed, they should be reviewed and updated on a regular basis. In the preparation of your plan, you will have addressed all the issues around the successful operation of your business. If followed properly, your business plan and financial projections will prove to be invaluable management tools leading to your success.  \nPREPARING A BUSINESS PLAN  \nThe Business Plan  \nThe business plan is a written summary of what you hope to accomplish and how you intend to organize your resources to meet your goals. It is the road map for operating your business and measuring progress along the way. It is a valuable tool in helping you assess the risk and commitment required in your business venture.  \nWhy Prepare a Business Plan?  \n¾ It encourages realism.  \n¾ It helps you to identify your customers, your market area, your pricing strategy and the competitive conditions under which you must operate to succeed. This process o","cbCaieY447Oab7yz","https://ap.wps.com/l/cbCaieY447Oab7yz","pdf",131549,"English","# Forward\n# Preparing a Business Plan\n## Why Prepare a Business Plan?\n## Business Plan Format","[{\"question\":\"What is the purpose of a business plan in this workbook?\",\"answer\":\"It serves as a “blueprint” for building a business by focusing thinking and research, identifying and resolving potential problems before operations start, and guiding future performance.\"},{\"question\":\"Why should you prepare a business plan instead of starting immediately?\",\"answer\":\"It encourages realism, helps identify customers and market conditions, improves management by committing plans to paper, and supports better financing discussions with lenders or investors.\"},{\"question\":\"What sections make up the business plan format described here?\",\"answer\":\"The workbook organizes the plan into five parts: Part I Executive Summary, Part II Business Concept, Part III Marketing Plan, Part IV Operations, and Part V Financial Plan.\"}]","BUSINESS PLAN WORKBOOK - Forward and Business Plan Preparation | PDF",1790101687,6]