Are you in the process of writing a business plan? If yes, note the following steps.
1, Executive Summary
The executive summary highlights salient points about your business. It also includes the mission statement and business goals.
2. Business Description
A business description gives more details on the business, including its history, target market, and product and service offering.
3. Market Analysis
The market analysis focuses on your research in the market place. It highlights:-
The SWOT analysis
Competitor analysis
How your offering is unique
4. Company Organization
In the company organization you highlight:-
Type of company – corporation, sole proprietor, partnership
Management hierarchy
Shareholders if any
5. Product or Service Offering
Highlight the following:
How the products or services will benefit consumers
Any research and development you have undertaken
Marketing strategies
7. Financial Section
The financial section covers:-
Projections
Cash flow and income statements for companies that are already operating
Any other financial aspects that funding groups may require.
7. Summary
Use the summary section to sell your business to potential funding groups. Include relevant statistics or data to support your pitch. A ballpark figure of what you need makes the decision easier for the possible funding companies.
So, with all that said, be patient as you assemble your plan. Take the necessary time to do the market research, analyze your financial needs, and map out your strategy for the future.
It’s possible that you may put together your business plan and then realize that the potential outcome isn’t as bright as you initially thought
Final Thoughts
Use the tips above when writing your business plan, and come up with a winning document.
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