By on February 23 2018 18:54:13
Ownership and Management Plan. This section describes the legal structure, ownership, and (if applicable) the management, and staffing requirements of your business.
Operating Plan. The operating plan outlines the physical requirements of your business, such as office, warehouse, or retail space, equipment, inventory and supply needs, labor, etc. For a one-person, home-based consulting business the operating plan will be short and simple, but for a business such as a restaurant or manufacturer that requires custom facilities, supply chains, specialized equipment, and multiple employees, the operating plan needs to be much more detailed.
Know your market. A big part of knowing whether your business will be successful is understanding your audience. Make sure your plan is clear about your target market – who will you be selling to and how many other companies are already selling similar products?
The resulting document can serve as the blueprint for your business and be supplied to financial institutions or investors if debt or equity financing is needed to get your business off the ground.