By on March 04 2018 09:16:44
A standard business plan consists of a single document divided into several sections, including a description of the organization, the market research, competitive analysis, sales strategies, capital and labor requirements, and financial data.
A business plan is a crucial activity for any entrepreneur or business owner looking to start or expand their business. Without a plan a business is likely to fail or stagnate.
Executive Summary. The executive summary goes near the beginning of the plan but is written last. It should provide a short, concise and optimistic overview of your business that captures the readers attention and gives them an interest in learning more about it. The executive summary should be no more than 2 pages long, with brief summaries of other sections of the plan.
Any funder worth his or her salt wants to see it right off the bat. Moreover though, a solid business plan is a living document that will continue to guide your efforts as your business grows. A lot of those mistakes (most of them, in fact) are the result of poor planning. Bad location, a marginal niche, having no specific user in mind, raising too much or too little money--all of these issues can be prevented or at least mitigated with good planning.