Components Of A Business Plan For A Small Business

Components Of A Business Plan For A Small Business-64
Summarize the problem you are solving for customers, your solution, the target market, the founding team, and financial forecast highlights.Keep things as brief as possible and entice your audience to learn more about your company.

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Your business plan should present what a banker or venture capitalist expects to see, in the order they expect to see it in.

Following a standard business plan outline will keep you on track, and save you from botching your best chance at getting your business funded.

It also should explain why you are seeking financing and information about your banking and currency investors.

Market analysis describes your industry, gives information about the target market for your product or service and describes how your product or service will meet the needs of the target market.

It discusses the size of the target market, the market share you hope to gain, the pricing of your product or service and your projected gross margin.

It discusses your competitors -- who they are what part of the market they hold and their weaknesses and strengths.A business plan can take many forms, depending on the venture.A four-person management consulting firm may produce a leaner plan focused on service expertise and industry experience compared to a 20-employee widget maker, which would also have to describe products, manufacturing techniques, competitive forces and marketing needs, among other details.Full-length resumes should be appended to the plan.Click here to subscribe to The Bcast on i Tunes » 1.1 Problem 1.2 Solution 1.3 Market 1.4 Competition 1.5 Financial Highlights 2.1 Problem Worth Solving 2.2 Our Solution 2.3 Validation of Problem and Solution 2.4 Roadmap/Future Plans 3.1 Market Segmentation 3.2 Target Market Segment Strategy 3.2.1 Market Needs 3.2.2 Market Trends 3.2.3 Market Growth 3.3 Key Customers 3.4 Future Markets 3.5 Competition 3.5.1 Competitors and Alternatives 3.5.2 Our Advantages (see an example) 4.1 Marketing Plan 4.2 Sales Plan 4.3 Location and Facilities 4.4 Technology 4.5 Equipment and Tools 4.6 Milestones 4.7 Key Metrics 5.1 Organizational Structure 5.2 Management Team 5.3 Management Team Gaps 5.4 Personnel Plan 5.5 Company History and Ownership 6.1 Revenue/Sales Forecast 6.2 Expenses 6.3 Projected Profit and Loss 6.4 Projected Cash Flow 6.5 Projected Balance Sheet 6.7 Business Ratios While every business owner should have an ongoing planning process to help them run their business, not every business owner needs a complete, formal business plan suitable for submitting to a potential investor, or bank, or venture capital contest.It should describe the organization of your business, and the key members of the management team, but it should also ground the reader with the nuts and bolts: when your company was founded, who is/are the owner(s), what state your company is registered in and where you do business, and when/if your company was incorporated.Be sure to include summaries of your managers’ backgrounds and experience—these should act like brief resumes—and describe their functions with the company.So don’t include outline points just because they are on a big list somewhere, or on this list, unless you’re developing a standard business plan that you’ll be showing to someone who expects to see a standard business plan.The key elements of a business plan are much the same,whether for a large business or a small business.The marketing and sales element of the business plan should discuss your business's marketing penetration strategy, a strategy for growing the business once market penetration has been achieved, the subsequent channels of distribution and a communications strategy suitable for reaching your customers.This also should include an overall sales strategy that outlines your selling activities.

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