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You may need assistance putting together the financial information if you don’t have a financial background, but make sure you get an accountant to explain what all the figures mean.Although there is a fairly well accepted structure for a business plan format, there are many ways of putting it down on paper.There are three primary parts of a business plan: Your contents page should be the very last thing you write to ensure that all the page numbers are correct.
The very process of developing your plan helps you understand they type of business you'd like to build, and the action plan which you will need to follow.
However, there's only one time when EVERY entrepreneur and business owner develops a business plan. Since virtually all lenders and equity investors require a formal business plan.
You can use the Internet, industry experts and associations, suppliers and existing competitors for the information.
Your research will help you in putting the business plan together as it will give you an understanding of the dynamics and forces affecting the industry.
Get as specific as you can with regards to the demographic and psychographic make-up of your customers. Competitive Analysis In this section, identify your competitors and their key strengths and weaknesses.
2 Page Business Plan Essay Against Gun Control
Importantly, identify your competitive advantages, that is, why you can be more successful than the others. Marketing Plan In this section, you will describe your products and/or services and your desired brand positioning.To help you out, here is my proven business plan template, and the information below details the 11 key sections to include in your plan. Cover Page As simple as this seems, include a cover page with your contact information so potential investors can easily reach you. Executive Summary If investors don’t like your Executive Summary, they won’t read any further, so this section is critical.Concisely describe what your business does and what market need it solves.Answer questions such as where you are located, when you were formed, and what is your legal entity form.Also discuss the stage of your company: what successes has your company already achieved? Industry Analysis In the Industry Analysis section, you will detail the market in which you are competing, how large it is, and what trends are affecting it. Customer Analysis Here you will identify who your target customers are and their needs.Include your full financial projections, including your projected income statements, balance sheets and cash flow statements.Include any additional details, such as patent information, customer lists, etc., that help prove to investors that your company is a great investment opportunity.Of critical importance, describe your “unique success factors,” which are the 4-7 reasons why your business will be successful.Also show your topline financial projections and amount of money you are seeking to raise here. Company Overview In this section, give a profile of your company.The best option is to write the plan yourself as you know your business best.Also, if you are responsible for writing the business plan, you could identify certain challenges and find solutions to them, it will also ensure that you know every single aspect of the business, which is critical when meeting with potential investors.