Does your business plan tell the story of your business? If
not, here is the answer! To express the idea of your business you need a
business plan that fits your exact business needs. You start today with certain
resources, you want to get to a better tomorrow, at which your business will be
having different set of resources. So it should describe, how will you get from
here to there?
Here are the essentials:
EXECUTIVE SUMMARY:
This summary is the doorway to your business plan. This is
the most important section of your plan. So jot it down in a manner so that it
can grab your reader’s attention and let them know why they should read the
rest of your plan. This includes all the key points of your complete plan and
hence should be the last point in your list.
BUSINESS DESCRIPTION:
It includes the short description of the industry. It must summarize
the vision and what you wish to deliver to your market.
MARKET STRATEGIES:
Market strategies are the result of market analysis. This
section should describe your target audience including demographics, market
trends and market growth.
COMPETITIVE ANALYSIS:
Know your competitors and determine the strengths and weaknesses
of their business, and write the
strategies that can provide you with the distinctive advantages over them.
PRODUCTS AND SERVICES:
Under this section
describe your products and services. Describe your product design, development
budget.
OPERATIONS AND
MANAGEMENT PLAN:
This section should describe the members of your team.
Explain how you and your team will execute the vision for this business and how
it will prove to be the right team for the taking your business to the path of
victory.
FINANCIAL SUMMARY:
Describe your financial strategy and how it supports your
projected growth. Include projected cash flow, profit and loss and balance
sheets.
So what are you
waiting for? It’s time to roll up your sleeves and get everything down on
paper!!
No comments:
Post a Comment