In this section of the business plan, you need to distinguish your business from the competition, persuading the reader(s) of your plan that your business will be able to compete successfully.A detailed explanation of your sales strategy, pricing plan, proposed advertising and promotion activities, and product or service's benefits.
If you work through each section of this outline, in the end you'll have a complete, well thought out business plan that you'll be able to submit to a financial institution in order to request a loan or to potential investors for equity financing in your business.
While appearing first, this section is written last.
This is where you present the reader with your new business's Unique Selling Proposition, describe how you're going to get your goods and/or services to market and how you're going to persuade people to buy them.
An outline of your business's legal structure and management resources, including your internal management team, external management resources, and human resources needs.
Your purpose here is to show the reader of your business plan that you have a thorough knowledge of the people you are planning to sell your goods and/or services to - so thorough that you can make educated predictions about how much of your goods and/or services they might buy.
An investigation of your direct and indirect competitors, with an assessment of their competitive advantage and an analysis of how you will overcome any entry barriers to your chosen market.Highlighting your new business's strengths will encourage your reader(s) to continue reading your plan.After completing all the sections, don't forget to insert a title page at the beginning of the plan followed by a table of contents listing each section with page numbers (see Simple Business Plan Template): This kind of business plan (yes, there are different kinds) is a formal document and it has to look like one.Be sure to go over the plan together, as it is you, and not your accountant, who will be seeking financing and who will be explaining the plan to your banker and investor.What would you do if your finances suddenly deteriorated?Instead of looking at what’s already happened, you make projections for the coming months, forecasting income and outlays.Your projections will act as an early warning system, helping you to plan for cash flow dips, identify financing needs and pinpoint the best timing for projects.Beyond that, it's logical to have all the material relating to markets (the Industry Overview, the Marketing Analysis, the Competitive Analysis and the Marketing Plan) together.However, there's no reason why the Management Plan section couldn't directly follow the Executive Summary, for instance, if you want to play with the order.Enter them as cash only when you expect to get paid based on prior experience.Also prepare a projected income (profit and loss) statement and a balance sheet projection.