3. Introduction
• A business plan is a blueprint for the
business, the first piece of the business
puzzle
• A well-written business plan serves two
key functions:
1) Organizes and proves the central idea of the
business
2) Summarizes the business and funding strategy
4. Business Plan Types
According to Business Week, here are 5
documents that can serve as Business Plans:
• Executive Summary – 2 pages to interest the investor
• Synopsis – addresses the particular needs of the investor
• Summary Business Plan – 10 pages or less with key
components and 1 to 2 year financial projections
• Full Business Plan – 25 to 35 pages with all components and
3 to 5 year financial projections
• Operational Business Plan – 50 pages of detail on an existing
business used to raise expansion capital
5. Business Plan Elements and Checklist
According to the SBA, there are 9
elements to a business plan
• Executive Summary
• Market Analysis
• Company Description
• Organization and Management
• Marketing and Sales Management
• Service or Product Line
• Funding Request
• Financials
• Appendix
Business Plan Checklist Items
Company name, legal form,
financial highlights, owners
Organization chart, management,
consultants, directors and
employee agreements
Marketing research, customer
surveys, competitive analysis
Product information, brochures,
patents, licenses, trademarks,
research and development plans
Marketing plan and materials
Financial statements – current and
forecasted
6. Business Plan Need
Pros
According to Business Week
• Give the definition of new
venture
• Develops marketing
strategy
• Helps business compete
in the marketplace
Cons
According to Enterpreneur
• Business plans are not
flexible
• Do not worship the
Business Plan
• Banks do not invest in
starter business
7. Conclusion
• A Business Plan is a blueprint to a
business
• There are 9 elements of a Business Plan
• A well written business plan is a great
tool however there are different opinions
of its need in business planning and
development.
8. References
• Entrepreneur Magazine - “Write your
Business Plan in Pencil”
• Business Week – “The Right Business
Plan for the Job” and “Do you Really
Need a Business Plan”
• Small Business Administration – “Write a
Business Plan”
• Wiley Plus - Kurtz, D. (2010 Update).
Contemporary Business: 2011 custom edition
(13th
ed.). Hoboken, NJ: John Wiley & Sons.
