Daily Archives: 12/18/2017

Business Plan Essentials and Resources

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Planning is Key

Is writing a business plan something that is constantly on your mind? Are you one of those people who would really like to write a business plan, but don’t know how to do it? Don’t worry because it is not so hard to do. Your business plan doesn’t have to be a very long document. In fact, if you are able to write a good business plan, one page should be enough. So, read on to learn more about how to outline your business plan.

 

If you concentrate hard enough on the tips that you can see here, you will be able to write a great business plan that you might be able to use to persuade potential investors that the best place to put their money in is your new business.

 

The Executive Summary

Even though this is on the top of the list, this section actually needs to be written last. It is usually the first thing thing that people read while looking at the business plan, and the reason why is because it summarizes the most important parts of the entire business plan. Based on this fact alone, it is very important for you to make your executive summary as good as you can. It needs to be outstanding!

 

The Industry

When writing a business plan, make sure to include some information regarding the industry sector that your business will be connected to, including estimated industry sales, industry trends and major players in the industry. You also need to write something about what role your business will play within the industry.

 

Market Analysis

Include some information regarding the primary market target for your services or products, including your market target’s needs, geographic location and demographics. Your main goal here is to show anyone who is reading your business plan that you possess a deep knowledge of the people you will be selling your services and goods to.

 

Competitive Analysis

This section needs to include some information regarding both your indirect and direct competitors, as well as their competitive advantage. This is a great time for you to distinguish your business from the competition.

Marketing Plan

In this section of your business plan, you need to include as much information as possible regarding your pricing plan, sales strategy, proposed promotion and advertising activities, and last but not least – your service’s and product’s benefits.

 

Management Plan

Write about your business’s management resources and legal structure. This includes your internal management team, human resource needs and external management resources. And the last two things that you need to include in your business plan are your operating plan and your financial plan.

 

Here is another great resource on the topic: Writing a Business Plan