Don’t just wing it – create a game plan. Writing out business goals and action steps not only helps you clarify and organize priorities, it gives potential investors a clear vision of your roadmap to profitability.
Elements of an Effective Business Plan
The plan usually projects 3-5 years into the future and includes 8 basic parts.
- Executive Summary
Briefly explain your business and plans for the future
- Business Description
Describe your business and your product or service, and explain how they are different from other businesses.
- Market Analysis
Identify your potential customers, and describe your industry and competition.
- Organization & Management
Show how you plan to structure your business and introduce your management team and their responsibilities.
- Service or Product Line
Describe your product or service, including the features and benefits of your product or service.
- Marketing & Sales
Explain how you plan to market and sell your product or service to the potential customers you’ve identified.
Show your current and projected financial status, including balance sheets, a cash flow statement, and revenue projections.
- Appendix or Supporting Documents
Include additional documents that support your plan.
Last modified date: Fri, 08/01/2014 - 13:52