How To Write a Business Plan
- March 1, 2010
- 2,549 Views
Writer
Timothy Jeffrey
Music
Matt Wiggers
Voice Over Artist
Peter Coleman
Spend the time to create an accurate and detailed picture of your business for investors, with a plan that will answer all of their questions.
You Will Need
- A standard business plan form
- A market analysis
- Information on regulatory restrictions
- Knowledge of your industry
- Product
Step 1: Detail executive summary
Detail an executive summary with a brief mission statement. Include names of partners and employees, functions, services rendered, and business location.
Step 2: Provide market analysis
Provide a market analysis that reflects your knowledge of the industry, the industry’s outlook, target markets, and an evaluation of the competition.
Gathering information on regulatory restrictions that affect your business is essential.
Step 3: Describe company
Include a snapshot of the company with organization and management described, including salary and benefits. Add the ownership information, clarifying legal and practical involvement.
Step 4: Define market strategy
Define your market strategy with information on penetration, channels, and growth. State communication and advertising decisions and your overall sales strategy, identifying prospects.
Step 5: Present products
Present your product line, emphasizing distinct advantages with a target public. Give patent or copyright information. Relate any ongoing research and development.
Step 6: Request the money
When requesting an investment, present positive and negative funding scenarios and needs over the coming five years. Make capital expenditures, working capital, debt retirement, and acquisitions clear.
It is better to be accurate and honest than to project successes that might not materialize.
Step 7: Detail financials
Detail your financials, historical and prospective, capturing realistic quarterly and yearly projections.
Step 8: Add the appendix
Add an appendix with supporting information. Provide credit history, resumes, references, market studies, licenses, leases, contracts, and names of consultants.
Did you know? According to the Small Business Administration, only 67 percent of businesses make it past two years.
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