You are going to learn 10 Steps to a Perfectly Written Business Plan, writing a business plan shouldn’t be hard for you.
We are going to cover the main part of a successful business plan.
Table of Contents
1. Executive Summary
It do appears first in a business plan, executive summary are written last because it’s the summary of the entire business.
It do state the purpose of your business and overview with what you do offer.
It’s a must that your executive summary is outstanding, mainly if you are seeking funding.
2. Business Description
Here you are going to provide information about the business you want to start.
You should include the kind or what problem business can solve, and you should specify your audience or buyers.
You are going to list or explain the type of industry your business will part of.
It should include major players in the industry, estimated market sales and trending.
In the business overview section, it should also give a summary of the business place within the industry.
Put about your competitive advantage with information of your expert team.
3. Market Analysis
Market analysis is a necessary part of the business plan, it do helps for identifying your good customer.
With market analysis, you will be able to research the main target market for your service or product.
It do include demographic, geographic location, for your target market needs and how they are met.
The main purpose here, is for you to give the details idea of the clients you are planning to sell goods to.
Doing so will help you give a correct predictions of how much they might buy.
4. Competitive Analysis
In this section, you will learn how your competitors are in the market field.
You will also write how you will set yourself apart from them with an assessment of their competitive advantage.
In competitive analysis, you should include an analysis on how you will overcome those entry barriers in your market side.
Following this best practice by distinguishing your business from competitors.
It’s important for you to persuade potential funding sources which you will be able to complete In market place.
5. Sales and Marketing Plan
Here in this section, it’s gives a details explanation of your sales pricing plan, strategies, proposed advertising with promotion activities, you still going to list your product and it’s services benefits.
You are going to outline the uniqueness of your business selling proposition, which you will describe how you can get your service or goods to the market, with how you are going to make people to buy your goods.
Tip: If developing a unique selling proposition, the main goal is to answer this question: why will customers buy my products over competitors?.
6. Ownership and Management plan
This is an outline of businesslegal structure with management resources.
In ownership and management, it includes your management team and management resources, with human resources and needs.
You are going to include experience and skills which your team brings in the business.
7. Operating Plan
In operating plan, it gives information how your business will run.
It gives description of business location.
With facilities and equipment, what types of employees are needed, with inventory equipments including suppliers.
You are going to include other applicable details, like description of manufacturing process.
8. Financial Plan
To start a business plan is to make a profit and with an ideal about financing your business.
Your profits are important, in financial plan section, you will give the distribution of funding requirements, with a details of financial statements, with analysis.
In this section of business plan is where you will list the three financial documents of your business.
Which are the income statement, balance sheet, income statement, cash flow statement or if business is new, a cash flow projection.
9. Appendix and Exhibits
As applied to sections being outline above, at the end of the business plan.
It do include the additional information that will assist or help establish the of the business plan.
Examples as photographs of your business goods, marketing studies, permit, intellectual property rights as patent, resume, credit histories, contact or other legal agreements pertinent to the business and marketing materials.
10. How to organize a Business Plan
There’s no rules set to your business plan, but the executive summary, as overview, should be first.
Apart from that, it do depends on your purposes or your own goals.
If your business plan is meant to help you get information to create a business roadmap, it should be organized to help achieve your wish and goals.
It should have content such as relating to market (the marketing analysis, the industry overview, competitive analysis with marketing plan).
If you have group of people working on your business, then put the section after the executive summary.
10 Steps to a Perfectly Written Business Plan
By highlighting the strength of your new business, it will encourage your readers to continue reading your business plan.
Add a Title Page and Table of contents
When completing the sections of your business plan, you should not forget to add a title page.
Add a title page at the beginning of the plan, it should followed by a table of contents.
Table of Contents
|1. Executive Summary…………………………..||Page #|
|2. Business/Industry Overview……………..||Page #|
|3. Market Analysis………………………………….||Page #|
|4. The Competition………………………………..||Page #|
|5. Sales & Marketing Plan………………………||Page #|
|6. Ownership and Management Plan…….||Page #|
|7. Operating Plan……………………………………||Page #|
|8. Financial Plan……………………………………..||Page #|
|9. Appendices and Exhibits……………………||Page #|
Appearance of your Business Matters
If your business plan is just for a future purpose, make it in a way to help you achieve your goals.
But if you are looking for investors or funding, then your business plan is a formal documents.
Then it should look like one. All aspects of your business plan should try to impress your funding source.
When writing your business plan, focus your attention to margins and formatting.
Try to check your spelling and grammatical sound, or you can hire someone to do it, if you are not good at it.
If you need printed documents, try to get them professionally printed.
You have read to the end, but if you are still confused on writing a business plan, then you can check this similar post How to Write a Business Plan.