Business Plans

A business plan is an essential roadmap for business success. This document generally projects 3-5 years into the future and outlines the route a company intends to take to grow revenues.  The business plan is expected by all lenders for review if you are considering financing for your business venture.  A well prepared business plan can make or break your chances to secure funding.

How the Business Plan Should Look

  • ·         Your executive summary is a snapshot of your business plan as a whole and touches on your company profile and goals. This should be at the beginning of the business plan.
  • ·         You will need a company description that provides information on what you do, what differentiates your business from others, and the markets your business serves? Before creating    the business plan, it is essential for you to research your business industry, market and competitors.
  • ·         Provide information about how you will structure the business.  Find out the best organization and management structure for your business and use them in the business plan.
  • ·         What do you sell? How does it benefit your customers? What is the product lifecycle?  Find out the best ways to promote and sell your product or service and include this in the business plan.
  • ·         How do you plan to market your business? What is your sales strategy? This is a very important part of the business plan and requires solid research and planning.
  • ·         If you are seeking funding for your business, find out exactly how much funding you may need and how you plan to structure the funding.  Even if its just projections it will show the lenders you have a plan to secure capital and pay back loans.
  • ·         If you need funding, providing financial projections to back up your request is critical. Find out what information you need to include in your financial projections for your small business.
  • ·         What makes your business unique? Determining this could help you stand out from the crowd and give you advantages over your competitors.

If you included these items in your business plan you should have a professional business plan that provides a plan and structure for the future.  You will also be able to show lenders your goals and future plans to market the business and increase revenue.

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