I rarely get writer´s block. I tend to work on several projects at once; so if I hit a stumbling block in one, I move on to the next. Later, when my mind has had time to refresh, I return to the first project.
But I´ve spent the last week working on my business plan, and unfortunately, my nerves tense up each time I sit down to work.
According to the Small Business Association (SBA), a business plan has three functions: to define a business, to identify its goals, and to serve as the firm´s resume. The business plan outlines the cash flow and therefore is a crucial part of any loan application.
Along with this, four core elements must be considered when writing a business plan: the service or product the business will provide and the needs that it fills; the potential customers for the service or product and why they will purchase from the company; the way that the business will reach these customers; and where the business will get the financial resources for start-up.
This is a lot of information to follow, but it has to be done correctly if you are hoping to procure a small business loan.
The following sites have been very helpful in the development of my plan.