You’ll want to cover the technology you plan on using, your business location and other facilities, special equipment you might need, and your roadmap for getting your business up and running.
So don’t include outline points just because they are on a big list somewhere, or on this list, unless you’re developing a standard business plan that you’ll be showing to someone who expects to see a standard business plan.
Whether you’re planning to open a shop that makes the best coffee around or you want to sell eco-friendly office supplies, you’ll need to explain why your business is necessary and how it’ll differ from its competitors. It provides investors, lenders and potential partners with an understanding of your company’s structure and its goals.
And some people prefer to start with a mission statement, or strategy summary.
Others like to focus on the numbers first, so they start with a sales forecast or spending budget. A healthy business planning process will always involve circling back often to check results and revise as necessary.
It should summarize what you expect your business to accomplish.
Since it’s meant to highlight what you intend to discuss in the rest of the plan, the Small Business Administration suggests that you write this section last. It reveals the company’s mission statement, along with a short description of its products and services.Start from the very beginning understanding that your business plan ought to be specific to your business needs and objectives.Every business ought to have a plan, but not every business needs a full formal plan with carefully crafted summaries and descriptions.You’ll introduce your company managers and summarize their skills and primary job responsibilities.If you want to, you can create a diagram that maps out your chain of command.In addition, you’ll have to provide details about the consumers you’ll be marketing to, such as their income levels.A good business plan will present a clear comparison of your business to your direct and indirect competitors.It should describe the organization of your business, and the key members of the management team, but it should also ground the reader with the nuts and bolts: when your company was founded, who is/are the owner(s), what state your company is registered in and where you do business, and when/if your company was incorporated.Be sure to include summaries of your managers’ backgrounds and experience—these should act like brief resumes—and describe their functions with the company.Your business plan should present what a banker or venture capitalist expects to see, in the order they expect to see it in.Following a standard business plan outline will keep you on track, and save you from botching your best chance at getting your business funded.