Every successful business plan should include something about each of the following areas since these are what make up the essential elements of a good business plan. Remember to keep it down to 20 pages if you want anyone to read it.
Executive Summary - The executive summary is perhaps the most important document. What "need" in the market place are you fulfilling (value proposition) and why is your lebron 9 scarface for sale business protected from others are the two first questions that need answering. It should contain basic details of the company, its management, its product and market and the cash required and what it is to be used for. The cash flow forecast should also be highlighted. Keep it down to 2 to 3 pages.
Market Analysis - The market analysis section should illustrate your knowledge about the particular industry your business is in. It should also present general highlights and conclusions of any marketing research data you have collected.
Service or Product Line - In this section you describe your service or product, emphasizing the benefits to potenlebron 9 china for sale tial and current customers.
Company Description - This section should include a high level look at how all of the different elements of your business fit together. The Company Description section should include information about the nature of your business as well as list the primary factors that you believe will make your business a success.
Organization & Management - This section should include your company's organizational structure, details about the ownership of your company, profiles of your managemelebron 9 south beach for sale nt team, and the qualifications of your advisory board.
Marketing and Sales Strategies - In this section, the first thing you want to do is define your marketing strategy. There is no single "right" way to approach a marketing strategy. Your marketing strategy should be part of an ongoing self-evaluation process, and unique to your company.
SWOT Analysis - This is a strategic planning method used to evaluate the strengths, weaknesses, opportunities, and threats involved in a project or in a business venture. It involves specifying the objective of the business venture or project and identifying the internal and external factors that are favorable and unfavorable to achieving that objective. The technique is credited to Albert Humphrey, who led a research project at Stanford University in the 1960s and 1970s using data from Fortune 500 companies.
Funding request - In this section you will request the amount of funding you will need to start or expand your business.
Financials - The financials should be developed after you've analyzed the market and set clear objectives. They should include information such as ratio and trend analysis for all of your financial statements, forecasted income statements, balance sheets, cash flow statements, and capital expenditure budgets. For the first year, you should supply monthly projections. After that you can stretch it out quarterly for the following 2 years and then annually for the remainder of the 5 years.
Appendix - The appendix section should be provided to readers on an as-needed basis. It should include information such as credit history (personal & business), resume of key managers, product pictures, letters of references, details of market studies, relevant magazine articles or book references, licenses, permits, or patents, legal documents, copies of leases, building permits, contracts and list of business consultants, including attorney and accountant.
Business Plan Guidelines
What is a business plan?
A blueprint of your company
A strategic vision of your company
Your most important communication tool
A document to obtain working capital and/or investments
A tool for planning, measuring and improving performance
A basis for sound decision-making
A way to motivate employees
Why is it important?
It provides you with a plan
It is a guide to allocating your resources and measuring your goals
Helps you set goals and make realistic decisions.
Communicates your goals and mission to not only your employees, but outsiders such as investors and lenders
It is a management development tool
It provides you with a roadmap
What should you keep in mind?
Demonstrate the benefits of your product or service to the user or consumer by showing how it feels a "need" in the market place.
Remember that an average idea with an outstanding management team will always be more attractive to investors and employees than the reverse.
Identify a strong target market. 15% market share of a small market is better than 1% of a billion dollar market because it is a "turf" you can protect.
Don't be too optimistic in estimating sales. Take a conservative approach and reduce it by 20%
Organize it in an easy to read format with logically arranged sections, appendices and table of content.
Don't hide problems and issues but instead highlight them and demonstrate how they will be overcome.
Set a timetable and stick to it. Don't let "activity" become the goal.
Your business plan should be one of the primary tools used to communicate your vision to your employees to keep everyone focused on the same goals
Three important areas to note are changes originating with your gaining knowledge of your customer base (preferences, trends, ages, interest) and changes related to new technology.Make the changes quickly once you are aware of them:
Orient the plan towards the future.
Keep it simple - KISS
Keep your business plan up-to-date
Start-up Steps for Success
Well defined Vision
Value Proposition finalized
Entity Structure
Tax ID. Business License, bank account
Capitalization of Company (how many shares at what value)
Legal Work to include Patent, Trademark, Name registration, Insurance
Team members, resume and pictures
Stock compensation for board and staff
Market analysis
1. Target market
2. Industry trends
3. Competition (products/services, distribution methods)
4. Competitive comparison (strengths, weaknesses, price)
Executive Summary
Advisory Board, resume, pictures
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Documents and visuals for seed capital presentation
Rehearsal of presentation
Seed capital raising
Product or service mock-up
Executive Board, resume and pictures
Marketing Plan:
1. Positioning Statement
2. Promotion and advertising
3. Budget
Financial Plan
1. Profit and loss for 5 years
2. Monthly cash flow report
3. Up to date balance sheet
First round capital raising
Business Plan writing and assembly
PPM and offering documents
Second round presentation and visuals
Accounting services
Operational plan
Staff hiring
Graduation
Company Analysis
The Company Analysis provides a strategic overview of your current or proposed company. Key questions that need to be answered include:
1. What opportunity is your company capitalizing on? Value proposition
2. What products and/or services are you offering?
3. How is your company and product(s)/service(s) unique? What makes your company qualified to succeed in this business?
4. What is your company's overall strategy?
5. How is your company organized (e.g., LLC, sole proprietorship)?
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