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What Is a Business Plan?
A business plan is a document that summarizes the operational
and financial objectives of a business. It is a business's road map
to success with detailed plans and budgets that show how the
objectives will be realized.
This is a guide for how a company will achieve its goals. For
anyone starting a business, crafting a business plan is a vital first
step. Having these concrete milestones will help track the
business's success. There are different business plans for different
purposes, and the best business plans are living documents that
respond to real-world factors as quickly as possible. In a nutshell,
a business plan is a practice in due diligence. When it's done well,
it will prevent entrepreneurs from wasting time and money on a
venture that won't work.
In many cases, people starting new businesses don't have the
money they need to start the business they want to start. If start-up
financing is required, you must have an investor-ready business
plan to show potential investors that demonstrates how the
proposed business will be profitable.
Since the business plan contains detailed financial projections,
forecasts about your business's performance, and a marketing
plan, it's an incredibly useful tool for everyday business
planning. To be as effective as possible, it should be reviewed
regularly and updated as required.
Business owners have leeway when crafting their business plan
outline. They can be short or long, and they can include whatever
detail you think will be useful. There are basic templates you can
work from, and you'll likely notice some common elements if you
look up examples of business plans.
BUSINESS PLAN WRITEUP
Title Page
Enter your business information including the legal name, address, etc. If you
already have a business logo you can add it at the top or bottom of the title page.
Business Name
Logo
Owner
Business Address
Phone/CP
Email
Website
Table of Contents
Section Description Page No.
I Executive Summary #
II Business/Industry Overview #
III Market Analysis and Competition #
IV Sales and Marketing Plan #
1. Product or Service Offerings #
2. Pricing Strategy #
3. Sales and Distribution #
4. Advertising and Promotion #
5. Competitive Analysis #
VI Operating Plan #
A. Production #
2. Facilities #
3. Staffing #
4. Equipment #
5. Physical Store #
6. Supplies