| Business Plan Form 101: The Essential Pieces of a Great Plan |
A great business plan addresses the concerns and questions of a reader about the business before they can even raise them. To be certain the plan is complete, begin by checking off the following list of the essential pieces of a business plan, generally presented in this order:
Executive Summary: A clear and concise introduction that hits all the high points of the plan.
Company Overview: The history, products or services, and structure of the business.
Industry Analysis: A description of the industry you are in, including its size, makeup and revenue and cost drivers, as well as projections of future trends.
Customer Analysis: The demographics, needs, and other characteristics of your customers, as well as the separate groups they fall into which you will have to market to or serve differently.
Competitive Analysis: The top competitors you face, their strengths and weaknesses, and a description of how your company will develop competitive advantage.
Marketing Plan: Your branding, promotional, and pricing strategies, which detail the tactics you will use to reach and sell to customers.
Operations Plan: The short-term and long-term operations processes to run and grow the business.
Management Team: The experience and skills of the key members of your management team and the plan to hire additional members.
Financial Plan: The financial results of the business including growth in sales, profit, customers, and products sold or services rendered. This section also includes details on the capital required to launch the business and what the startup costs will cover.
Appendices: Supporting documents that accompany the plan to present a stronger case. Pro forma financial statements (balance sheet, cash flow statement and income statement) showing greater detail for the first few years, are a major part of the appendices and must show financial returns that compensate for the risk funders take on by providing money for your business.
Eric Powers is associated with Growthink, a business plan consulting firm. Since 1999, Growthink's business plan consultants have developed more than 2,000 professional business plans. Call 800-506-5728 today for a free consultation. If you're writing your own plan, Growthink's business plan template can help you finish it quickly and easily.
http://www.growthink.com
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