Welcome to Module Two getting started with your business plan. Essentially, all you need to get started in this video training course is a pen and paper, and most importantly, your inspiration, you will most likely have found a large number of tools and applications that also promised to help you put together a business plan. And while many of these are good products, they're often expensive and in most instances, a distraction, your focus becomes learning a new tool rather than thinking about your new business. So let's start with the basics. Instead, I found that a pen and paper usually works the best and gets me off to a good start. First, you need to create 10 sections that correspond to modules three through 11 of this training course.

And then start writing down your high level thoughts into each of the sections. You should be able to do this in a single pass after which the process becomes a little more intuitive. Especially when you're putting together the financial plan and the assumptions that drove this financial plan. This is now a good point. To transfer all your workings across to a more structured document, using something like Microsoft Word, Google documents or OpenOffice, you can also start to use something like Microsoft Excel again, Google documents or OpenOffice to begin constructing the financial plan and the underlying assumptions. The training course includes a number of templates for all the documents that you'll be completing.

And I've also put up some links for you to download the applications to use these templates if you don't have things like office or Google documents available to you. At the end of the exercise, you should have a single document containing your business plan and the supporting workbook with a financial plan and all your financial workings. Throughout the process, you'll also need to be doing a reasonable amount of research and as with anything nowadays, the internet's a great place to start. However, beware. You need to make sure that you're using credible sources on the internet, especially when referencing figures because any entity information will affect the quality and believability of your business plan. government websites are usually a great place to start, especially when trying to understand the larger economy and the industry in which your company will operate.

Some additional internet based sources are listed in the slide. Industry and Trade associations, which are often specific to the industry in which your business will operate chambers of commerce and these can be local Chambers of Commerce. So in your town or perhaps larger city research agencies, much of this will be paid for and maybe unaffordable, but there's also loads of free information available from some of these research agencies, software sponsored reports or company sponsored reports. Often all you need to do is register on the website and you'll have access to these reports which are offices, often industry focused investment companies, financial publications, and industry podcasts. If you have access to any academic institution, You may have access to an online journal portal such as Emerald insight, which is methods of research information. any university library will also provide access to other publications such as dissertations, in which students will have either included secondary research or performed primary research of their own.

Don't underestimate your local library and they may also provide something similar in terms of access to to research journals, as well as having a number of other research materials available for you. Speaking to other business owners or industry experts will also provide insightful information. Don't be afraid to ask for help or advice most people are willing to share information. Here are a number of resources to get you started with your research. Firstly, in the United Kingdom, the Companies House is a government website, which deals with the registration of companies but also provides lots of information around startups and small businesses. British chambers.org.uk is a list of The Chamber of Commerce organizations that exists within the country and then of other government websites which include information about starting a business.

Firstly, just the general government website and then Her Majesty's Revenue and Customs, which includes a lot of information that you'll need to run a small company. The financial reporting council contains a lot of information that will help you understand how finances should be reported or work within a company. This statistics authority will provide you a load of statistics around different industries in the economy, which you need to reference in your business plan. nation monster is a not specifically uk website, but it's an international website. And it provides a number of KPIs and statistics across industry and different countries which which can give you a lot of referenceable material for your business plan. And then finally, Emerald inside which is one of the research portals I referenced a little bit earlier.

Let's take a look at the research resources for the USA. Firstly, Delaware Inc, which provides a service for registering small companies. The US Chamber comm provides a list of the Chamber of Commerce is again, like they do in the UK, there's just being the US based one of a number of government websites that provide information to business owners or aspiring entrepreneurs. The Securities and Exchange Commission, the specific URL talks about financial reporting and how this should be done in a small company. Again, statistics related specifically to the USA and then finally nation master and Emerald insight again, as these are applicable to both the USA and the UK. At the end of the day, it's very important that you do focus on the basics and don't get distracted by the tools that you need.

Whether it's your business plan that you're documenting or the research that you're needing to do. Don't get carried away with it. tools and technologies keep your focus on the content and the eventual outcome and you will be successful.