A successful business equals a plan

Writing a business plan gives you insight into your business. Whether this business is a new adventure or if you’ve been in it for a while. You can still benefit from a business plan. With a business plan you have a good look at your projected future, competition, finances and customers.

There are some points and steps you want to take when writing your business plan. The body of your business plan can be broken down into seven parts.

• Executive summary– The executive summary should include your objectives (could include but is not limited to a small overview of sales, personnel cost and profit). and the mission statements (is what you expect from your company)

• Company Summary– The company summary summarizes what your company does.

• Services– The services part of your business plan consist of company ownership and a start up summary

• Market Analysis Summary– The market analysis summary consists of market analysis which is a breakdown of who you are planning on serving. Who and what is your competition. Usually a chart and/or a pie is usually used in this part of the business plan.

• Strategy and Implementation Summary– This tells how you plan to succeed in your market, what gives you the edge and makes you competitive, and a sales strategy. How do you expect to put forth the numbers that you project to make.

• Management Summary– This part of the business plan tells a little about the management team and their experience/history. It also includes a breakdown of your personnel team. What you expect your payroll to be and expenses projected well into the next few years.

• Financial Plan– The financial plan is one of the most important parts of the entire business plan. This is the part most financial will consider closely when considering you for finances. In this section you should plan to use charts and tables to give a visual of your numbers. Your tables should show whether or not you plan on making a profit in the first five years. The financial plan includes but is not limited to, how much capital you have and how much capital you need to raise. A break even analysis which should include your average sales over a five year time period. Besides a yearly projection it should also include a monthly projection for the first year.

A projected balance sheet, Business ratios, and appendix should be included.

There are numerous types of software that can be used to guide you as you write your business plan.

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