You've got a brilliant business idea, but you need cash to make it fly. This could stop you dead in your tracks – or you can approach a lender for financing. Before a lending organisation will consider financing your business venture, it will want to see some planning and research have gone into your plan. After all, it's the future of their money they're concerned about.

The common format for showing your pre-venture preparation is a business plan. Because you typically follow a standard format and have to answer a number of questions, it disciplines you to think through the most important issues affecting the success of your prospective business. And it helps to identify possible weaknesses and make alternative plans before you commit your (borrowed) money. This document is basically your only ammunition in convincing possible investors and the bank to finance your venture, so put a lot of effort into it.

Business Partners offer a very thorough explanation of the business plan development on their site. They advise you to give specific attention to four key areas in your plan:

• the business itself, 
• the management of the business (the entrepreneurs involved), 
• the market in which the business operates, and
• the financial management and planning - the risks and rewards associated with the total investment in the business.