Focus on the following nine elements when drafting a business plan for your small business. Creditors may need access to this information, therefore it should be available on an as-needed basis. Writing a business plan need not be an overwhelming task if you consider the following information.
Purpose of Business Plan Before drafting a business plan it is important to understand why this document is so important to the success of your business. Information regarding service or product costs, suppliers and any new services which may be added should be included in this part.
Qualifications, experience and education are important to provide readers with an insight as to how these individuals fit into the organizational structure and what they can bring to the table in their designated roles. This typically includes achieving marketing objectives like; Introduce new products Extend or regain market for existing product Enter new territories for the company Boost sales in a particular product, market or price range.
Have a strategic marketing plan in place A great business plan will always include a strategic and aggressive marketing plan. Include a description of how your product or service will meet a need and any potential clients identified as having that need. Due to the projected surplus of cash, the financial statements show full repayment of the external financing by the end of the second year of operating.
Product or Service Line Describe to readers what you are selling and how the product or service will benefit current and potential customers.
Request For Funding Include current and future funding requirements, how that funding will be used and long range strategies that impact funding request. Documents which may be included in the appendix include market study details, reference letters, personal and business credit history, patents, permits, contracts and contact information for consultants.
The following financial statements and analysis have been forecasted over a three year period. Include the following financial statements for the past three to five years; cash flow statements, balance sheets and income statements. If you know these interests up front, you can be sure to take them into account when preparing a plan for that particular audience.
Sales strategies should also be included to provide information on sales staff and activities. However, getting started can be difficult to do. Any factors which directly impact your ability to repay your loan should be included, such as acquisitions, sale of the business in future or a buyout.
Marketing and Sales Management Describe the marketing strategy and how you intend to drive sales. Company description — describes what you do.
To help with this process, document everything from your expenses, cash flow, and industry projections. The financial projections anticipate breakeven point will remain consistent.
As a result, the company will now longer have long term debt appearing on the balance. The XYZ Company has prepared the following financial statements for a three year projected period. Executive Summary Although this is the first section readers will see, it should be the last section of your business plan written.
Include market penetration strategy, growth strategy, distribution strategy and communication strategy. Read everything you can about your industry and talk to your audience.
However, keep these alterations limited from one plan to another. In the implementation section, you focus on the practical, sweat-and-calluses areas of who, where, when and how. This document not only helps owners see where the business is headed, it is also required by most lenders and potential investors.
Document all aspects of your business Investors want to make sure that your business is going to make them money.and discipline into a business.
A good business plan is a living document. It should be updated regularly. 2 Title Page section the reader should: Financial Management This section should include: Click here: for automated Balance Sheet template.
Sample Plan (Full Plan - all modules) June 1, John & Sarah Hanson Table of Contents Disclaimer financial planning process, and what our respective obligations are within that process. In general terms, the there are any changes to my business affiliations or agency relationships that may have an.
Business Plan Writing For Beginners. The operational section of the business plan provides an overview of how the business owner intends to operate the enterprise. It explains the internal organization, structure, operation, and equipment needed to produce the necessary goods or services for the target customer base.
Financial Plan. The. You have a plan. You need to write it down. Preparing a Business Plan is a working guide to help you do just killarney10mile.com will show you what a business plan looks like and be a guide to refer to as you prepare.
Executive Summary The Executive Summary of a Business Plan is a one-page distillation of your entire plan, and often is the last section to be written.
Business Planning and Financial Forecasting A Start-up Guide Ministry of Small Business and A business plan geared to the internal reader serves two purposes. It is a road in the short term and what you want from the reader of the plan.
This section of the plan should be two to three pages long.Download