By on February 19 2018 11:23:27
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.
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.
Be specific. Being specific is just as important as being concise. The details will help you drill down into how you will actually deliver your plan.
Business/Industry Overview contains an overview of the industry and how your business will compete in the sector. Describe the overall nature of the industry, including sales and other statistics. Include trends and demographic, economic, cultural, and governmental influences. Describe your business and how it fits into the industry. Describe the existing competition. Describe what area(s) of the market you will target and what unique, improved or lower cost services you will offer.