The FT Essential Guide to Writing a Business Plan, 3rd Edition

CHAPTER 1

ESSENTIAL PREPARATION

‘The only thing we know about the future is that it will be different.’

Peter Drucker

In this chapter:

• ■Result
  • –An established business
  • –A start-up business
• ■Need
• ■Preparation
  • –Research
  • –Organisation
• ■A business plan for SMEs

Let’s start with the output: what should a good business plan look like? We’ll get that firmly planted in the brain before we delve into detail. Then we’ll consider in more depth what the plan is for and for whom it is written. Finally, we’ll look at what you need to prepare prior to kicking off on your winning business plan, in terms of research undertaken and organisation put into effect.