Business Plan

The primary value of your business plan will be to create a written outline that evaluates all aspects of the economic viability of your business venture including a description and analysis of your business prospects.

When make a Business Plan keep in mind following essentials.

  • Business Plan Format
  • Vision statement
  • The people
  • Business profile
  • Economic assessment
    1. Executive Summary: Write this last. It’s just a page or two of highlights.
    2. Company Description: Legal establishment, history, start-up plans, etc.
    3. Product or Service: Describe what you’re selling. Focus on customer benefits.
    4. Market Analysis: You need to know your market, customer needs, where they are, how to reach them, etc.
    5. Strategy and Implementation: Be specific. Include management responsibilities with dates and budgets. Make sure you can track results.
    6. Plan Summary:  include discussion of Marketing plan, development costs, operations, sales and marketing strategies.
    7. Management Team: Describe the organization and the key management team members.
    8. Financial Analysis: Make sure to include at the very least your projected Profit and Loss and Cash Flow tables.
  • Simple business plan outline

  • Six Steps to a Great Business Plan
    • Basic business concept
    • Feasibility and specifics
    • Focus and refine concept
    • Outline the specifics of your business
    • Put your plan into a compelling form
    • Review sample plans
  • Does Your Plan Include the Following Necessary Factors
    • A sound business concept
    • Understanding your market
    • Healthy, growing and stable industry
    • Capable management
    • Able financial control
    • Consistent business focus
    • Mindset to anticipate change
  • Expanded business plan outline

  • Here’s an expanded full business plan outline, with details you might want to include in your own business plan.

    1.0 Executive Summary
    1.1 Objectives
    1.2 Mission
    1.3 Keys to Success

    2.0 Company Summary
    2.1 Company Ownership
    2.2 Company History (for ongoing companies) or Start-up Plan (for new companies)
    2.3 Company Locations and Facilities

    3.0 Products and Services
    3.1 Product and Service Description
    3.2 Competitive Comparison
    3.3 Sales Literature
    3.4 Sourcing and Fulfillment
    3.5 Technology
    3.6 Future Products and Services

    4.0 Market Analysis Summary
    4.1 Market Segmentation
    4.2 Target Market Segment Strategy
    4.2.1 Market Needs
    4.2.2 Market Trends
    4.2.3 Market Growth
    4.3 Industry Analysis
    4.3.1 Industry Participants
    4.3.2 Distribution Patterns
    4.3.3 Competition and Buying Patterns
    4.3.4 Main Competitors

    5.0 Strategy and Implementation Summary
    5.1 Strategy Pyramids
    5.2 Value Proposition
    5.3 Competitive Edge
    5.4 Marketing Strategy
    5.4.1 Positioning Statements
    5.4.2 Pricing Strategy
    5.4.3 Promotion Strategy
    5.4.4 Distribution Patterns
    5.4.5 Marketing Programs
    5.5 Sales Strategy
    5.5.1 Sales Forecast
    5.5.2 Sales Programs
    5.6 Strategic Alliances
    5.7 Milestones

    6.0 Web Plan Summary
    6.1 Website Marketing Strategy
    6.2 Development Requirements

    7.0 Management Summary
    7.1 Organizational Structure
    7.2 Management Team
    7.3 Management Team Gaps
    7.4 Personnel Plan

    8.0 Financial Plan
    8.1 Important Assumptions
    8.2 Key Financial Indicators
    8.3 Break-even Analysis
    8.4 Projected Profit and Loss
    8.5 Projected Cash Flow
    8.6 Projected Balance Sheet
    8.7 Business Ratios
    8.8 Long-term Plan

    What to Avoid in Your Business Plan

    Place some reasonable limits on long-term, future projections. (Long-term means over one year.) Better to stick with short-term objectives and modify the plan as your business progresses. Too often, long-range planning becomes meaningless because the reality of your business can be different from your initial concept.

    Avoid optimism. In fact, to offset optimism, be extremely conservative in predicting capital requirements, timelines, sales and profits. Few business plans correctly anticipate how much money and time will be required.

    Do not ignore spelling out what your strategies will be in the event of business adversities.

    Use simple language in explaining the issues. Make it easy to read and understand.

    Don’t depend entirely on the uniqueness of your business or even a patented invention. Success comes to those who start businesses with great economics and not necessarily great inventions.

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