The format of a Business Plan is something that has been developed and refined over the years and is something that should not be changed. Like a good recipe, a business plan needs to include certain ingredients to make it work.
When you create a business plan, do not attempt to recreate its format. Those reviewing this type of document, you need to meet expectations. If they do not see those crucial decision-making components, they see no reason to proceed with their review of your business plan, regardless of the size of your business idea.
Summary Section
Every business plan should begin with an executive summary section. A well-written Executive Summary is critical to the success of the rest of the document. Here is where you must capture the attention of your audience so that they are obliged to read. Remember, this is a summary, so each word must be carefully selected and presented.
Use the Summary section of your business plan to accurately describe the nature of your business, including the need for to be filled. See why people need your product or service. Show this by including a brief analysis of the characteristics of your potential market.
Describe the organization of your company, including your management team. Also, briefly describe your marketing plan and sales or approach. Finally include the numbers that those reviewing your business plan want to see - the amount of capital that you are looking for, the sales projections carefully calculated and your plan to repay the loan.
If you captured your audience so far they will read. Otherwise, they will close the document and add your business plan for the lot of other ideas rejected.
Devote the balance of your business plan in order to provide clarification on the points raised in the summary.
The Business section of
Be sure to include the legal name, physical address and detailed description of the nature of your business. It is important to keep the description easy to read using a common language. Never assume that people who read your business plan have the same level of technical knowledge that you do. Describe how you plan to better serve your market than your competition is doing at the moment.
Section of the market analysis
An analysis of the market shows that you have done your homework. This section is basically a summary of your marketing plan. It needs to show the demand for your product or service, the proposed market, trends within the industry, a description of your pricing plan and packaging and a description of your business.
Finance Section
Financing section must show that you are as committed to your business you expect people who read your business plan to be. Indicate the amount of personal funds you are contributing and their source. Also include the amount of capital you need and your plan to repay this debt. Include all financial worksheets in this section: annual income projections, a break-even sheet, the statements of projected cash flows and a balance sheet.
Management Section
Outline your organizational structure and management team here. Include the legal structure of your business if it is a partnership, corporation or limited liability company. Include resumes and biographies of the key players in your management team. Show data for the projection of manpower in the coming years.
By now, you are probably thinking that you do not need a business plan at this time. Well you do, and there is business plan building software that can help you in this huge project. This software is easy to use and affordable. Use one today and produce a professional-quality business plan - including all critical components - tomorrow!
When you create a business plan, do not attempt to recreate its format. Those reviewing this type of document, you need to meet expectations. If they do not see those crucial decision-making components, they see no reason to proceed with their review of your business plan, regardless of the size of your business idea.
Summary Section
Every business plan should begin with an executive summary section. A well-written Executive Summary is critical to the success of the rest of the document. Here is where you must capture the attention of your audience so that they are obliged to read. Remember, this is a summary, so each word must be carefully selected and presented.
Use the Summary section of your business plan to accurately describe the nature of your business, including the need for to be filled. See why people need your product or service. Show this by including a brief analysis of the characteristics of your potential market.
Describe the organization of your company, including your management team. Also, briefly describe your marketing plan and sales or approach. Finally include the numbers that those reviewing your business plan want to see - the amount of capital that you are looking for, the sales projections carefully calculated and your plan to repay the loan.
If you captured your audience so far they will read. Otherwise, they will close the document and add your business plan for the lot of other ideas rejected.
Devote the balance of your business plan in order to provide clarification on the points raised in the summary.
The Business section of
Be sure to include the legal name, physical address and detailed description of the nature of your business. It is important to keep the description easy to read using a common language. Never assume that people who read your business plan have the same level of technical knowledge that you do. Describe how you plan to better serve your market than your competition is doing at the moment.
Section of the market analysis
An analysis of the market shows that you have done your homework. This section is basically a summary of your marketing plan. It needs to show the demand for your product or service, the proposed market, trends within the industry, a description of your pricing plan and packaging and a description of your business.
Finance Section
Financing section must show that you are as committed to your business you expect people who read your business plan to be. Indicate the amount of personal funds you are contributing and their source. Also include the amount of capital you need and your plan to repay this debt. Include all financial worksheets in this section: annual income projections, a break-even sheet, the statements of projected cash flows and a balance sheet.
Management Section
Outline your organizational structure and management team here. Include the legal structure of your business if it is a partnership, corporation or limited liability company. Include resumes and biographies of the key players in your management team. Show data for the projection of manpower in the coming years.
By now, you are probably thinking that you do not need a business plan at this time. Well you do, and there is business plan building software that can help you in this huge project. This software is easy to use and affordable. Use one today and produce a professional-quality business plan - including all critical components - tomorrow!