What Should Be Included In A Business Plan

Describe what you are going to do and how you are going to do it.

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Creating a business plan should be one of the first tasks you take on as a new business owner.

The plan solidifies your research that shows your company will succeed and gives you a sound document to present to interested investors.

The bulk of your business plan will likely consist of financial documents such as income statements, balance sheets and cash flow projections.

These statements back up your text, showing a potential banker or investor what you have already achieved and what you are capable of achieving in the future.

Include how you plan to surpass your business competitors and your plans for new product development.

Indicate in your plan what market you will be competing in and information about who will be purchasing your product or service.Do some research about your competitors to find out their strengths and weaknesses, and determine how you will make your company stronger than the competition.The plan should include details about your management team, such as the owners, board members and the people you have overseeing company operations.You may be writing a business plan as an opportunity to examine operations and company culture, or you might prepare the document to present to a banker as part of a business proposal, with a sample letter requesting funding.Your business plan should provide bios of key personnel, and it should include a marketing plan laying out how you intend to take your business to the next level.Write a few short paragraphs telling the history of your business, where your business is now and where you want it to be in the future.This page should include the most important points from each section of your plan, because it is the page that is going to make the first impression on potential investors.Long holds a Bachelor of Science in marketing and business management from Northwest Missouri State University.A business plan is a written document that details your company's current position and your plans for future growth.You need to include in your plan a marketing and sales strategy.Describe how you will execute plans to go out and find customers.

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