How do you create an effective business plan in this situation? Well, simply stated, place yourself in the shoes of the person lending the money. What would you as the lender want to read in a plan? First and foremost, these individuals want to see that you have demonstrated the ability to repay the loan with the required level of return on investment (ROI) and within the required time frame.
The most important aspect of business planning (the "What does it all come down to?" part), however, is spending the time to do your research ("due diligence") and critically thinking about these various aspects of your business. Of course, it is impossible to anticipate every detail simply by spending time thinking and writing; it is for this reason that plans are referred to and viewed as "dynamic". However, the more issues and scenarios you are able to come up with ahead of time, the more prepared you will be to handle these as they arise.
This is a much better plan indeed. However, a superior plan would take all of these ideas to the next level by planning for "what if": what will I do if I get a flat tire, if I run out of gas, if someone gets sick, or if I lose my wallet? You can see how the superior plan is clearly the best in most situations in that it allows for flexibility, plans for the expected and the unexpected, and allows you to spend more time enjoying the trip, knowing that you have all of your bases covered.
Business PlanMaker: Business PlanMaker offers a step by step interview approach to helping you build your business plan. They have many samples to help guide you and if you are stuck and at a loss for what to say they have suggested phrases to use. When you are ready to publish your plan you can do so in your preferred format whether that may be e-mail, Microsoft Word, or the like.