Writing a Business Plan
Your business plan is a living document that will generally project three to five years ahead and will outline the path in which your company intends to take to grow and expand revenues. It should provide detailed information on ways to obtain financing, build relationships, attract employees, and increase your confidence as a business owner.
The structure of a business plan may vary depending on your business and needs, but it should incorporate the following sections below:
Executive Summary - Your executive summary is a high level description of your business plan and should provide information on your company profile and goals.
Company Description - Your company description provides information on what you do, how you are different from other companies, and the market to which your business caters to.
Market Analysis - Market analysis should focus on the knowledge you have surrounding your industry and the market you service.
Organization & Management - This section should include information such as: organizational structure, details on ownership, profiles of your management team, and all the qualifications of your board of directors.
Service or Product Line What do you sell? - Describe your product or service you are offering. Provide details about your product's life cycle. Include any information on Research and Development you are involved in or planning.
Marketing & Sales - You should include an overall market strategy on how you plan to penetrate the market as well as how you plan to grow and communicate. An overall sales strategy is needed to communicate on how you are going to sell your product.
Financial Projections - After you have researched the market, you should develop financial projections. If funding is needed, providing these projections to back up your request is critical. Be sure to also include Historical and Prospective Financial Data.
Appendix - Provide an appendix on a as-needed basis. They are a useful place to include information such as resumes, permits and leases.