Using a variety of free resources, you can create a document that will help you attract investors, launch your business and guide you through your first year. The key to writing a practical business plan is to organize it into sections that will help you cover all the bases of running a business. Organize Your Document A business plan should contain a cover sheet, contents page, executive summary, specific sections and an appendix. Your specific sections should include a product or service description, a marketplace overview, a marketing strategy, financial information, an implementation plan, controls and measurements.
Financial projections Appendix Comprising of ten essential sections plus the appendixa successful business plan outlines everything a business needs to set goals, cultivate the enterprise in a way to achieve those goals, and how to make those goals readily and easily identifiable to each employee or reader of the business plan.
The Executive Summary The executive summary is the very first thing that people will read in your business plan. That, however, does not mean that it is the section you should focus on writing first. In fact, it is advisable to write this section last. You will be better placed to write a comprehensive executive summary once you go through the other sections first.
This is because the executive summary is exactly what its name suggests: It only makes sense to write it once you have gone through the rest of the document and process. To give you an idea of just how important this section is, some investors only ask for the executive summary as opposed to the entire business plan.
Ideally, this section should be able to act as a stand-alone document which gives all the highlights of what will be covered in the detailed plan that follows. Writing the executive summary is simple.
Start by briefly informing your reader or employees about your company. Then use the following step-by-step format for a simple, yet effective summary that states everything necessary for your executive summary.
Include where the business is now and where it will be in the future Clearly indicate what you as the business owner desires from the company, its employees, and its practices Write the above points clearly and in a confident fashion. One day, an investor may want to look at your business plan before deciding to fund your business.
A strong executive summary is one of the most powerful elements you can provide investors with to inspire their confidence. Doing so enables you to look back over the document you have created, picking from the essential highlights in the material to provide an excellent and coherent initial statement for the front page of the document.
Why your business exists and the audience it caters to Company information: Date of commencement, location, founders, and owners Highlights: Unique characteristics of the company, e. What your business sells and to whom Financial data: Capital funding and investor activity Future projections and overarching vision for the business: Cultivating the identity of a business via the business plan begins and ends with the executive summary.
The business description is intended to inform and educate any reader or employee in a transparent, easily accessible manner by providing the most important facts about a company in a well-written statement. Start your business description by writing a few brief sentences that give a concise view into the essence of the company, its services and products, its current position within the market, and the future vision for the company and its employees.
Subsequently, you need to write a brief statement describing the type of business structure put in place by the company, e. Corporation Partnership Sole proprietorship Depending on what type of business structure you have, ensure that you write out all the relevant personnel involved, including the owners, names of various principles or investors, and any other partners involved.
After discussing the business structure, move on to describe the services and products offered by the company, its intended audience, how supply and distribution are handled, any competitive advantage the company holds over rival companies, and how those advantages will work to ensure its future economic success.
Conclude your business description by describing exactly how the business will be profitable and why customers will buy the products and services your business offers.
Remember that the statements should be brief — in total, your business description should not exceed two pages. It should cover everything anyone reading your business plan would need to know about your business.With good planning comes clearly set expectations, results tracking, and goal-setting.
A business plan is an essential apparatus that requires business owners to conduct regular reviews of their business, where it needs improvement, and where more time and resources need allocating.
Jul 18, · Produce your business plan document. We’ve put together a detailed guide for this topic, so follow along there or consider using an online tool, like LivePlan, to make the process easier.
Develop your executive summary last/5(18). Whether you’re looking to set new business priorities, outline plans for growth, determine a product roadmap or plan your investment decisions, you’ll need a strategy.
Oct 31, · If you are starting a construction company, you need a construction business plan. Follow these 9 steps from George Hedley to create a winning 9 Steps to Create a Construction Company Business Plan.
The last step in preparing your business plan is to create an Executive Summary. This document summarizes the business plan information and is placed at the beginning of the document. The Executive Summary should be interesting to your reader and provide the basic information about the business. How to create a simple business plan.
8 Steps to Creating a Simple Business Plan for Here are 8 simple steps to creating your own business plan (this is by no means a comprehensive plan but a primer to get you started): 1.
Name of your business - create a name or reevaluate the name.