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Before you read the text try to explain what is a business plan used for in your own words

A business plan is a document used to detail plans for a start-up or existing business. This document is used to describe business goals and strategies, as well as provide a blueprint of financing and marketing plans. Essentially, it provides detailed information about where a company is going and how it will get there. Many experts consider such a plan critical to the success of a business.

Often, a business plan is required when seeking a business loan or investment capital. Investors and loan officials need to know what a business owner hopes to accomplish and the steps he or she plans to take to meet goals. Business plans help those in the position to loan money determine whether or not a business is likely to succeed, based on information provided by the owner or owners. A company backed by a well-thought-out business plan is a better loan or investment risk than one with a thrown together or incomplete plan.

A business plan is not just useful for obtaining financing. A carefully considered plan can serve as a veritable road map to success for the business owner and company employees. It can help all involved stay on task while striving to achieve goals. Furthermore, this type of plan may be reviewed and revised when necessary, allowing those operating a business to keep the strategies that work, eliminate those that don't, and change objectives as the business evolves.

Six Steps To A Great Business Plan

Start-up entrepreneurs often have difficulty writing out business plans. This discipline is going to help you in many ways so don't skip this planning tool! To make it easier, here are six steps that will produce a worthwhile plan:

  • Write out your basic business concept.

  • Gather all the data you can on the feasibility and the specifics of your business concept.

  • Focus and refine your concept based on the data you have compiled.

  • Outline the specifics of your business. Using a "what, where, why, how" approach might be useful.

  • Put your plan into a compelling form so that it will not only give you insights and focus but, at the same time, will become a valuable tool in dealing with business relationships that will be very important to you.

  • Review the sample plans we furnish and download the blank format to a MS Word document.

Ex. 1. Answer the questions to the text.

1. What kind of document is a business plan?

2. What information does it provide?

3. Is a business plan important for success of a business?

4. Does a business plan influence the investment risk?

5. What advantages does a worthwhile plan give to a company?

6. Are there any devices how to create a successful business plan?

Ex. 2. Translate the following text into English.

Ваш бізнес-план повинен являти собою детальний опис вашого бізнесу, в тому числі товарів чи послуг, які ви плануєте запропонувати, а також очікувані витрати і прибутки. Також вам слід надати детальний опис вашої продукції на ринку, в тому числі варто зазначити їх конкуренту спроможність. Необхідно також включити свій план розвитку, штатний розклад, фінансування та ін. Доцільним буде скористатися допомогою у створенні бізнес-плану. В інтернеті є багато ресурсів, що забезпечують крок за кроком створення бізнес-плану. Крім того існує багато книг, комп'ютерних програм та бізнес-план комплектів, що сприятимуть створенню успішного бізнес-плану.

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