Write a Winning Business Plan.
B usiness P lanning What are the Benefits? There are two main purposes for writing that plan. There is an additional benefit if you do business internationally. Your business plan will serve as your guide during the lifetime of your operation. It is the blueprint of your business and will provide you with the tools to analyze your operation and implement changes that will increase your sales and, ultimately, your profitability.
A business plan is a requirement if you are planning to seek financing.
How To Write A Business Plan
It will provide potential lenders or investors with detailed information on all aspects of your company's past and current operations and provide future projections. If you do business internationally, a business plan provides a standard means of evaluating your products' business potential in a foreign marketplace. The following pages provide a suggested outline of the material to be included in your business plan.
Your final plan may vary according to your specific needs or individual requirements of your lender or investor. Cover Sheet Serves as the title page of your business plan. Name, address, and phone number of the company. Month and year your plan was prepared. Copy number of the plan. Table of Contents Quick reference to major topics covered in your plan. The executive summary is the abstract of your continue reading plan.
It summarizes the content and purpose of your finished plan, covering all of the key Write A Business Plan In No Time. This is a key section if you are seeking funding. Your Company introductory overview - who, what, where it is and why it is unique. Market Opportunity opportunities your company is positioned to take advantage of. Management who they are and strengths each one brings to the company.
Competitors direct and indirect ; list their strengths and weaknesses. Your Company's Competitive Advantages. Financial Projections summary of Income Statement Projections for next 3 years. Write the executive summary after you have completed your business plan. It is a summary. This section should include a "summary description of your business" statement followed by information on the "administrative" end of your company.
Summary Description of the Business. In a paragraph or two give a broad overview of the nature of your business, telling when and why the company was formed. Then complete the summary by briefly addressing:. SWOT Analysis strengths, weaknesses, opportunities, and threats that your company will face, both internal and external. Tell briefly about your manufacturing process.
Include information on suppliers and availability of materials.
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Describe the products you sell. Include information about your sources and handling of inventory and fulfillment. If you provide a service: Describe your services List future products or services you plan link provide. Address Copyrights, Trademarks, and Patents. Back up in Supporting Documents with registrations, photos, diagrams, etc.
Describe your projected or current location. Project costs associated with the location. Include legal agreements, utilities forecasts, etc. Describe your legal structure and why it is advantageous for your company. List the people who are or will be running the business. Describe their responsibilities and abilities.
Include resumes in Supporting Documents. How many employees will you have in what positions? What are the necessary qualifications? How many hours will they work and at what wage?
Project future needs for adding employees. What system will you set up for daily accounting? Who will you use for a tax accountant? Who will be responsible for periodic financial statement analysis?
Who will you retain for an attorney? Keep 'Murphy's Law' in mind. What kinds of insurance will you carry? What will it cost and who will you use for a carrier? Address security in terms of inventory control and theft of information online and off. What is a marketing plan? The Marketing Plan defines all of the components of your marketing strategy.
You will address the details of your market analysis, sales, advertising, and public relations campaigns.
The Plan should also integrate traditional offline programs with new media online strategies. Overview and Goals of Your Marketing Strategy. Target Market identify with demographics, psychographics, and niche market specifics. Competition describe major competitors assessing their strengths and weaknesses.
Market Trends identify industry trends and customer trends. Market Research describe methods of research, database analysis, and results summary. Packaging quality considerations and packaging. Pricing price strategy and competitive position. Sales Strategies direct sales, direct mail, email, affiliate, reciprocal, and viral marketing. Public Relations online presence, events, press releases, interviews. Networking memberships and leadership positions.
Description of Customer Service Activities. Expected Outcomes of Achieving Excellence. Implementation of Marketing Strategy.
Everything you wanted to know about writing a business plan, in one place—from the executive summary to appendix. Get started writing your business plan. Create a business plan the easy way with the world's best-selling business plan software, Business Plan Pro, featuring + sample business plans, step-by-step. Enhance a business plan with step by step guides regarding marketing, finance, investments, and how to plan articles. Business plan outline based on Anatomy of a Business Plan and Automate Your Business Plan, used for bank and SBA loan applications. Bplans offers free business plan samples and templates, business planning resources, How-to articles, financial calculators, industry reports and entrepreneurship.
Out-Sourced Functions advertising, public relations, marketing firms, ad networks, etc. The quantitative part of your business plan. This section of the business plan is the quantitative interpretation of everything you stated in the organizational and marketing plans.
Do not do this part of your plan until you have finished those two sections. Financial documents are the records used to show past, current, and projected finances.
The following are the major documents you will want to include in your Business Plan. The work is much easier if they are done in the order presented because they build on each other, utilizing information from the ones previously developed. Summary of Financial Needs needed only if you are seeking financing. Why you are applying for financing. How Much capital you need. Loan Fund Dispersal Statement needed only if you are seeking financing. Tell How you intend to disperse visit web page loan funds.
Back Up your statement with supporting data. This document projects what your Business Plan means in terms of dollars. It shows cash inflow and outflow over a period of time and is used for internal planning. It is of prime interest to the lender and shows how you intend to repay your loan. Cash flow statements show both how much and when cash must flow in and out of your business.
Use the revenue and Write A Business Plan In No Time totals from the Pro Forma Cash Flow Statement for the 1st year's figures and project for the next two years according to expected economic and industry trends. Projection of Assets, Liabilities, and Net Worth of your company at end of next fiscal year. The break-even point is the point at which a company's expenses exactly match the sales or service volume.
It can be expressed in: This analysis can be done either mathematically or graphically. Revenue and expense figures are drawn from the three-year income projection.