When you are starting a business, the most important part is preparing a business plan. So much rests on the business plan, from financing to suppliers. A business plan shows that you are prepared, educated, and dedicated to your business. A good business plan will define what your business is about, where you expect it to go in the future and how you will get there. To make a good business plan, here is an outline of the essentials.
Executive Summary. In this summary, everything that is the rest of the business plan is explained. Completely covering every aspect of the rest of the business plan is purpose of writing this. Try to think of it this way: it should sell your business since chances are, this may be the only part of the whole plan that gets read.
Why You Need a Table of Contents. There is no need to elaborate. Keep it short and to the point. You get to explain later.
What is Company Description? The basics of your business should be covered by this. It should also include the industry as well as the products and services that your business provides. This should also cover how you will be successful as well as what makes your business stand out from the competition.
What is Market Analysis? If you have done your marketing research, then you will be able to prove it here. You should explain about the industry, including target markets. Explain your competition and compare your business to them. Don?t forget to explain your marketing strategies and plans.
Facts about Technology. The technology you will use and how new developments may affect your business should also be explained.
Facts about Business Operations and Manufacturing. How you will conduct business is explained here. As far as operations go, what makes you better than the competition?
Things Included in Management and Ownership. Here, what you will do is name all the key personnel. Explain their skills, education and what they bring to the company.
Things Included in Organization and Personnel. Explaining your personnel needs is what you will do here. You need to state how many employees are needed and how you will pay them and what you will pay them. The personnel organizational structure should also be explain.
Capital and Usage. This should be very detailed and explained. First, determine the amount that is needed to start followed by the projection needs.
Financial Factor. Future gains as well as losses are what you will project here. Annual reports are fine if the business breaks even but until then, you should list them quarterly.
What are Appendices? Included in appendixes are any resumes, copies of studies done or anything else to back up information in the business plan, and references.
With these 12 steps, you should be able to put together a solid business plan. All you have to do is remember that you should stick to the facts and that everything should be backed up with evidence.
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