Thursday, November 7, 2013

What Should Belong in My Business Plan?

When putting together your business plan you always want to make sure that you have the initial things all together and in order. Those initial things would be you cover page, table of contents and you executive summary.
When putting the business plan together one thing that should be structure is that the first page is the cover page. The cover page should entail the company name or logo, the owner/representative name, and disclaimer. The second page of the business plan should be left intentionally blank. Reason being, some companies who print this document, may print on the front and back of each page, this will entail that the table of contents be the next and only thing you see opening the business plan. Of course the next item in the business plan should be the table of contents, with all accurate page numbers and chapters. Subchapters may be included but not necessary. The first of all the rest of the chapters should be the executive summary. The executive summary should be 1-3 pages, outlining the entire business plan, as if it was a 1-3 page summary or book report.
After that, all the rest of the chapters should be determined on whom you are presenting to and what information is most important to them. These chapters should include, but not limited to your company description, industry analysis and trends, target market, the competition, a marketing plan, operations and management, financials, and also try to include an appendix. Sometimes it may be a good idea to include chapters on certain strategic position and risk assessment, technology plan, and social responsibility and sustainability.
Now a days a business plan is typically about 25 pages. Try to narrow down details, especially when they start to repeat themselves from one chapter to another. Include what needs to be there and then add any extras.

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