2:57 PM
Lanee' Blunt
Having a business plan in place when you are starting a new company is very important. A business plan can be used to seek funding and also can be used for a plan-as-you-go for running your new business. You should spend some time doing your homework for example, gathering the information that you will need to create your plan.
Executive Summary
Tell
the reader what you want in the summary. You will provide a synopsis of your
business plan. The elements here will include the business concept, financial
feature, financial requirements, current business position, and major
achievements. This section is a snapshot of your plan but touches on your goals
and company profile.
Market
Analysis
This
section you will write about your market, how you will reach them. What are the
needs of your customers and how you will position your business to service them?
Write about the industry grown and estimate the market share for the period the
plan covers.
Company
Description
What
do you do in your business? What makes you different from the competition? What
are your start-up plans?
Product
or Service
Describe
your business. Describe what you are selling.
Strategy
and Implementation
What
are the responsibilities of management include dates and budgets. Describe your
business and its organization structure, regardless of its size.
Funding
Request
If
you are seeking funding for your new business find out all of the information
that you need to include in your plan.
Financial
Projections
Provide
financial projections that will back up your request. Include a projected Profit and Loss and Cash
Flow tables.
Reference:
SBA:
Essential Elements of a Good Business Plan
Entrepreneur:
Elements of a Business Plan
Bplans:
A Standard Business Plan Outline; Tim Berry
Posted in: Business Plan
