Financial Plan. The financial plan section is the most important section of the business plan, especially if you need debt financing or wish to attract investors. The financial plan has to demonstrate that your business will grow and be profitable. To do this you will need to create projected income statements, cash flow statements, and balance sheets. For a new business, these are forecasts, and a good rule of thumb is to underestimate revenues and overestimate expenses.
Sales and Marketing Plan. A description of how you intend to entice customers to buy your product(s) or service(s), including advertising/promotion, pricing strategy, sales and distribution, and post-sales support if applicable.
While no business plan is like another, they do all need to provide specific information. That’s why a business plan template is useful to guide you through process of writing your business plan. Your business plan should provide details about the business concept, the marketplace and the expected financial performance.
Sample business plans and templates can help you develop a professional document that will serve as an in-depth marketing tool to convince others of your venture s potential for success. However, creating your own plan can be a complex process, and you may need the assistance of a professional (like an accountant) depending on the type of business you have (or want to run), and what you are seeking in terms of investment.
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