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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.Whether you’re planning to open a shop that makes the best coffee around or you want to sell eco-friendly office supplies, you’ll need to explain why your business is necessary and how it’ll differ from its competitors. It provides investors, lenders and potential partners with an understanding of your company’s structure and its goals.Summarize the problem you are solving for customers, your solution, the target market, the founding team, and financial forecast highlights.
It is always a good idea to think in terms of customer needs and customer benefits as you define your product offerings, rather than thinking of your side of the equation (how much the product or service costs, and how you deliver it to the customer).
Sometimes this part of the plan will include tables that provide more details, such as a bill of materials or detailed price lists, but more often than not this section just describes what you are selling and how your products and services fill a need for your customers.
This information will go in your market analysis section.
Related Article: 15 Ways Startups Can Raise Capital Following your market analysis, your business plan will outline the way that your organization will be set up.
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.And some people prefer to start with a mission statement, or strategy summary.Others like to focus on the numbers first, so they start with a sales forecast or spending budget. A healthy business planning process will always involve circling back often to check results and revise as necessary.You’ll need to show that you know their strengths and weaknesses and you know how your business will stack up.If there are any issues that could prevent you from jumping into the market, like high upfront costs, it’s best to say so.If you’re trying to create one, check out 10 key components of a business plan.Your executive summary should appear first in your business plan.You’ll introduce your company managers and summarize their skills and primary job responsibilities.If you want to, you can create a diagram that maps out your chain of command.It should summarize what you expect your business to accomplish.Since it’s meant to highlight what you intend to discuss in the rest of the plan, the Small Business Administration suggests that you write this section last. It reveals the company’s mission statement, along with a short description of its products and services.