Entrepreneur’s personal Financial resources institutions Financing Options Public Unusual Angeloffering resources investors
Financial Plan• First, you need to gather some of the financial data youll need to prepare these financial statements for your business plan by examining your expenses.• Think of your business expenses as broken into two categories: Your start up expenses Your operating expenses
• All the costs of getting your business up and running go into the start up expenses category.• These expenses may include:• Business registration fees• Business licensing and permits• Starting inventory• Down payments on property• Down payments on equipment
• Operating expenses are the costs of keeping your business running.• Think of these as the things youre going to have to pay each month. Your list of operating expenses may include:• Salaries• Rent• Telecommunications utilities
Market Analysis• This is an examination of the primary target market for your product or service, including geographic location, demographics, your target markets needs and how these needs are being met currently.• The competitive analysis section can be the most difficult section to compile when writing a business plan. Before you can analyze your competitors, you have to investigate them.
Marketing Plan Objectives• Most important piece of your plan• Build on industry and marketplace analysis – define your niche• Identify your customers• Demonstrate how you will solve problems for customers• Describe how you will reach customers – advertising .• Convince reader that there is an eager market for your product or service
Marketing Plan Outline• Introduction• Target Market• Product/Service Strategy• Pricing Strategy• Distribution Strategy• Advertising and Promotion• Sales and Marketing Forecasts