Business Plans: PART 2
What is your plan for?
your thinking of creating a business plan, what is your plan for and what do you want to do with it, perhaps you want to get a lone from your bank or maybe to pitch an idea to investors. what ever your resins you will need to show explain how your company is going to make money
Does your business aspirations make economical sense. How much control are you willing to relinquish to investors, there are many question you will need to both ask and answer, the following is a guide, you will add more as you go through this process.
What time will you devote to your business?
When will your business turn a profit?
How much personal funds have you put into the business?
What is your roll in the business?
Will you have employees?
Do you have a viable product/service that people will buy?
What will it take to accomplish that?
Do you have the time to commit to the business?
Do you have money to put into the business?
Your business plan should start with a mission statement. Every action in your plan should help accomplish your mission. Your mission clarifies what is important to you. Outline your intentions and motivations. Clearly state what it is you want to do. Your mission statement communicates the purpose and principles of what you’re doing. Explain why your business venture exists and what you hope to achieve with it.
What are the needs that your business exists to address?
What are you planning on doing to address these needs?
What principles or beliefs guide your work?
There are a few simple but very affective key words to apply to pretty much each section of your plan and that is the who, what, where, why and how
who will be your customers?
How do you plan to reach your customers?
what do they want from you?
who are your competitors?
what do your competitors offer?
Where will you get the funds?
what equipment is needed by the business?
The executive summary should be one page long and highlight the important fundamentals of your business venture
Your Mission Statement/ Goals
Objective of the business
Personnel in evolved in the business
Business development, idea, description
Marketing and sales info
Design and development
Operation & management plan
Cash flow forecast
What you write in your business plan relies heavily on how your intending to use your plan.
By now you will have spent time gathering information for your plan, there are key sections that are essential in letting your reader know your outlined intentions
Starting with the all important executive summary, this page is to be treated as a mini vision of the over all plan it self, that’s how vital the executive summery is also your summery should be created after completion of the business plan. This will help you to identify specific sections to convey to the reader.
Your company over view should relay your business purpose this should come under the title- mission statement. With in your mission statement include a brake down of goals and objectives you set out to achieve. In straightforward language explain the principles that guild you’re the activities and actions of your business.
When you write your business environment/description you will need to include relevant researched information on your desired industry and the market place. Here you will need to convey the nature of the industry and direction of the market place, include the opportunities of your business environment and threats. In you industry analyst describe how your industry operates. Talk in depth about your customer. Break down the market into leader segments. Measure the size of your competitors base your analyst on revenue, profits market share. Your industry analyst has four key components. Relationship, structer, market and finances.