Your business plan helps to establish a foundation for your business today and in the future. Whether or not you need a detailed business plan or a high-level start-up plan, the Small Business Administration (SBA) provides great tools to get you started.
Who are you? What is your business? Why will you be successful?
The Executive Summary should be simple and concise. It should include your business name and location, an overview of your business, your mission statement, your "WHY?," your niche, the target market, a brief financial forecast (you'll dive deeper later), your team. and any anticipated funding needs.
Your company description provides detail about your company and what problems your company can solve through the goods or services it provides. Here you should include your business philosophy, company strengths, core competencies, collective goals and target demographic.
When starting a new business it is important to analyze and understand the market you are entering and what your industry looks like. In this section you should identify trends and themes within your market and business type, determine what you can mimic and what you can improve on.
How is your business structured both legally and physically? Who will have managerial oversight over day-to-day operations?
Consider creating an organizational chart to help your reader visualize who will do what. In addition, you should include their resume or experience in the industry.
Your product or service is who you are! You should provide very detailed information on the product or service you plan to provide to include; competitive advantages, competitive disadvantages, and your pricing strucutre.
When developing a marketing strategy it is important to be conscious of your target audience and how they receive information. Your marketing strategy may begin one way, but must be adaptable. Ultimately, your marketing strategy must attract and retain your customer base.
What do the day-to-day operations look like for your business? This may include accessibility, licenses, permits, and insurance, systematic operations, inventory management, safety and security, storage, sanitation, record keeping, etc.
Your financial projection should include graphs, charts, and visuals to help illustrate your initial financial needs/goals and how those will change as your business grows. Be sure to include start-up cost projections, as well as, a standard 1-3 year monthly financial projection.
Provide information to support your projections.
This section is where you will attach your financial projection worksheets, sample pricing structure, sample employee schedules, and any other supporting documentation necessary in order to accomplish your goal.
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