The document provides information about business plans, including what they are, who needs them, and their common components. A business plan is a written document that describes a business, including its goals, strategies, competitive advantages, funding needs, and operations. It is an essential tool for starting a new business, obtaining funding, and planning for growth. The key components that are typically included in a business plan are an executive summary, company description, market analysis, products/services description, marketing and sales plan, and financial projections. Developing a business plan helps business owners systematically evaluate their business idea and determine if it is viable and profitable.
This document provides a summary of key tips for entrepreneurs raising money from informal investors like friends and family. It cautions that financing agreements often favor investors over entrepreneurs, and provides 5 tips to look out for:
1) Don't give first investors pro-rata rights to maintain ownership through future rounds as this sets a precedent that discourages later institutional investors.
2) Avoid giving too many people rights to be overly involved in decision-making as this can lead to needing approval from many shareholders.
3) Beware of liquidation preferences that allow investors to get their money back before common shareholders in an acquisition.
4) Watch out for redemption rights that let investors force the company to buy back shares
This business plan guide provides information on how to write an effective business plan. It discusses including an overview of the business, a description of the product or service, an analysis of the target market, and financial projections. The guide emphasizes that the business plan should concisely communicate the business goals, market opportunity, and strategy for achieving profits. It also provides examples of business plans to demonstrate how to clearly present the key elements in a coherent written document.
A business plan outlines the key elements needed to start and run a business successfully. It includes a mission statement describing the business's purpose, a SWOT analysis identifying strengths, weaknesses, opportunities, and threats, and financial projections like sales forecasts and profit/loss statements. An effective marketing plan is also essential to explain how the business will attract customers and differentiate itself from competitors. Regularly reviewing and updating the business plan helps ensure all business activities align with goals and makes needed adjustments.
This 12-step document outlines the process for starting a business, beginning with taking a skills and interests inventory to determine the right business idea. It recommends thoroughly researching and evaluating the business idea by analyzing the target market and competition. Finally, it stresses calculating all startup costs and writing a full business plan to guide the venture. The 12 steps provide a systematic approach to launching a new business from identifying an idea through planning finances.
This document provides an overview of key components of a business plan, including:
1. The executive summary which clearly states what is being asked for upfront.
2. The business description which outlines the industry, products/services, and plans for success.
3. The marketplace section which describes customers, competition, and market positioning.
4. The financial section containing income/cash flow statements, balance sheets, and break-even analyses.
Key components within these sections include business concept, market strategies, competitive analysis, operations/management plans, and financial factors. The length of a business plan can vary depending on the complexity of the business but typically ranges from 15-20 pages.
The document provides information on initial business planning, including the importance of developing a business plan and key components to include. It discusses how a business plan describes a company's goals and operations, while the business model details how the company will achieve those goals. The document also includes a template for an initial business plan, covering topics like the company description, market analysis, management structure, products/services, and financial projections.
This document provides an overview of opportunity recognition and developing a business model. It discusses identifying market opportunities by recognizing consumer needs or wants that a new business could potentially meet. Sources of opportunities include problems, changes, new discoveries, existing products/services, and unique knowledge. The document then covers what a business model is and common types like manufacturer, distributor, retailer, franchise, brick-and-mortar, and e-commerce. Finally, it discusses market opportunity analysis and identifying target customers through creating customer profiles and sales projections based on research.
This document provides a summary of key tips for entrepreneurs raising money from informal investors like friends and family. It cautions that financing agreements often favor investors over entrepreneurs, and provides 5 tips to look out for:
1) Don't give first investors pro-rata rights to maintain ownership through future rounds as this sets a precedent that discourages later institutional investors.
2) Avoid giving too many people rights to be overly involved in decision-making as this can lead to needing approval from many shareholders.
3) Beware of liquidation preferences that allow investors to get their money back before common shareholders in an acquisition.
4) Watch out for redemption rights that let investors force the company to buy back shares
This business plan guide provides information on how to write an effective business plan. It discusses including an overview of the business, a description of the product or service, an analysis of the target market, and financial projections. The guide emphasizes that the business plan should concisely communicate the business goals, market opportunity, and strategy for achieving profits. It also provides examples of business plans to demonstrate how to clearly present the key elements in a coherent written document.
A business plan outlines the key elements needed to start and run a business successfully. It includes a mission statement describing the business's purpose, a SWOT analysis identifying strengths, weaknesses, opportunities, and threats, and financial projections like sales forecasts and profit/loss statements. An effective marketing plan is also essential to explain how the business will attract customers and differentiate itself from competitors. Regularly reviewing and updating the business plan helps ensure all business activities align with goals and makes needed adjustments.
This 12-step document outlines the process for starting a business, beginning with taking a skills and interests inventory to determine the right business idea. It recommends thoroughly researching and evaluating the business idea by analyzing the target market and competition. Finally, it stresses calculating all startup costs and writing a full business plan to guide the venture. The 12 steps provide a systematic approach to launching a new business from identifying an idea through planning finances.
This document provides an overview of key components of a business plan, including:
1. The executive summary which clearly states what is being asked for upfront.
2. The business description which outlines the industry, products/services, and plans for success.
3. The marketplace section which describes customers, competition, and market positioning.
4. The financial section containing income/cash flow statements, balance sheets, and break-even analyses.
Key components within these sections include business concept, market strategies, competitive analysis, operations/management plans, and financial factors. The length of a business plan can vary depending on the complexity of the business but typically ranges from 15-20 pages.
The document provides information on initial business planning, including the importance of developing a business plan and key components to include. It discusses how a business plan describes a company's goals and operations, while the business model details how the company will achieve those goals. The document also includes a template for an initial business plan, covering topics like the company description, market analysis, management structure, products/services, and financial projections.
This document provides an overview of opportunity recognition and developing a business model. It discusses identifying market opportunities by recognizing consumer needs or wants that a new business could potentially meet. Sources of opportunities include problems, changes, new discoveries, existing products/services, and unique knowledge. The document then covers what a business model is and common types like manufacturer, distributor, retailer, franchise, brick-and-mortar, and e-commerce. Finally, it discusses market opportunity analysis and identifying target customers through creating customer profiles and sales projections based on research.
Business Plans - Write Your Script Before You Have To Perform ItGeorge Marcou
This document provides guidance on creating an effective business plan. It emphasizes that planning is essential for business success and failure to plan properly can lead a business to fail. A complete business plan should include sections on the industry, company aims and vision, market research, management, operations, marketing, sales, and finances. Developing a thorough business plan allows a business owner to identify any gaps or weaknesses and remedy them before problems arise. The plan then serves as a roadmap to guide the business as it works to achieve its goals.
This document outlines the sections of a business plan, including an executive summary, business description and vision, market research, management and organization, marketing and sales strategy, production, location, legal environment, inventory, suppliers, personal financial statements, startup expenses and capitalization, financial plan, and appendices. The executive summary explains the business, customers, owners, and future outlook. Market research involves both secondary research using published information and primary research gathering original data. The financial plan consists of profit and loss projections and a cash flow projection.
Business Plan is a document required at the time of funding your business or ...ymandhanya
The document outlines the purpose and steps involved in creating a business plan. It discusses that a business plan is a blueprint that identifies business opportunities and converts ideas into successful ventures. It involves tasks like identifying strengths/weaknesses, assessing feasibility, and allocating resources. The business plan gives direction to entrepreneurs, helps evaluate prospects, seeks loans, and helps with decision making. The steps involved include preliminary investigation of the idea and environment, generating business ideas, and scanning the internal and external environment.
The document provides information on running a business successfully, including:
- Key topics that will be covered are the meaning and definition of business, factors for business success, how to run a business, and tips for a successful business.
- Some of the most important factors that can impact business success are market demand, building the right team, leadership preparation, networking, competitive analysis, pricing strategy, and long-term goals.
- To run a business well requires skills like great marketing, drafting a clear business plan, innovating, developing a strong company culture, focusing on financial goals, refining processes, using the right tools, and having a support system. Maintaining organization, records, creativity, focus,
The business plan guide provides information on preparing a business plan including analyzing your business idea and yourself, the key components of a business plan, getting advice and support, and using the accompanying business plan template. The template includes sections for business details, registration details, business premises, organization chart, and management and ownership.
Introduction to EntrepreneurshipPage 21 of 27Business Plan for aTatianaMajor22
This document provides guidance on creating a business plan. It recommends answering over 150 questions divided into sections to develop a collection of essays covering topics like the business description, products/services, marketing plan, operations plan, management team, and financial projections. The value is in the research and systematic thinking required. It typically takes several weeks to properly complete a good plan.
This document provides guidance on key elements to include in a business plan, including an overview of ownership structures, factors to consider when choosing a structure, tips for choosing a business name, the importance of networking, what investors seek in startup pitches, possible financing options, conducting industry and market analyses, outlining management needs, describing operations, and creating financial projections. It stresses that the executive summary should concisely summarize the business, management, market, operations, competition, and financials to entice readers to learn more.
Business Plan for a Startup Business The business plan.docxdewhirstichabod
The document provides guidance on creating a business plan, with sections on general company description, products/services, marketing plan, operational plan, management/organization, finances, and appendices. It emphasizes that the business plan outlines the narrative of the business and contains over 150 questions to help structure the plan. The real value is in the research and planning process itself, to systematically think through the business idea and avoid costly mistakes.
The document discusses the key components of a successful business plan. It identifies the three primary functions of a business plan as an action plan, road map, and sales tool. It provides guidance on the essential elements that should be included in a business plan, such as an executive summary, company overview, product/service description, market analysis, marketing plan, financial plan, management plan, and funding requests. It emphasizes that a well-researched and comprehensive business plan is important for evaluating the feasibility of a new business idea, communicating the concept to potential investors or partners, and providing an operating plan to help ensure success.
This document provides an overview and template for a business plan. It explains that the plan consists of a narrative and financial worksheets. The narrative addresses over 150 questions divided into sections about the business. Research and thinking through the questions systematically is valuable for avoiding costly mistakes. The document notes that completing a good plan typically takes several weeks. It emphasizes modifying the generic template to suit the reader's specific business and goals.
This document provides a template and guidance for creating a business plan. It explains that the business plan consists of a narrative and financial worksheets. The narrative addresses over 150 questions divided into sections about the business. Though time-consuming, creating a thorough business plan is valuable as it requires thoroughly researching and systematically planning the business. The template provided is a generic model that should be modified for each specific business and industry. It emphasizes key areas to focus on like operations, management, marketing and financial projections. Completing a good business plan typically takes several weeks.
Module 3 business planning with benefit of hindsightrestartplatform
This document provides information about business planning and experimentation. It discusses the importance of business planning, but also notes that experimentation may be a better approach in some cases. Business plans are important for setting goals and evaluating progress, but they do not guarantee success. The document outlines common myths about business planning, such as the idea that plans are only for startups or only needed for raising capital. It emphasizes that plans should be concise and focus on key questions like the problem being solved, target customers, competition, and financial projections. Overall, the document suggests that while planning is valuable, experimenting and getting early customer feedback may be lower risk approaches in some sectors compared to traditional business planning models.
This document provides a template and guidance for creating a business plan. It includes sections for an executive summary, company description, products/services, marketing plan, operations, management, finances, and appendices. The introduction explains that the business plan template contains over 150 questions to help systematically research and plan the business. It emphasizes that the most important part is the planning process, not just the final document, as it helps avoid costly mistakes. The document advises customizing the template to the specific business and researching thoroughly to populate each section with accurate details, statistics, and financial projections.
This document provides a template for a business plan, including sections on the executive summary, company description, products/services, marketing plan, operations, management, finances, and appendices. It notes that the marketing plan requires research on the target market and industry trends. The plan should demonstrate competitive advantages, pricing structures, and growth potential. Market research can be secondary using published sources, or primary by gathering original data. The goal is to have a well-researched marketing plan to support financial projections.
An introduction to business plans outlines the purpose and components of an effective business plan. A business plan serves as a blueprint that predicts viability and forecasts success for a proposed business project. It conveys an entrepreneur's vision to potential investors. There are typically three primary parts to a business plan - the business concept, marketplace section, and financial section. The business concept discusses the industry, business structure, products/services. The marketplace section describes potential customers and competition. The financial section contains income/cash flow statements and balance sheets. A good business plan follows guidelines and breaks into seven key components such as executive summary, business description, and financial factors.
This document provides a template and guidance for creating a business plan. It includes sections for an executive summary, general company description, products/services, marketing plan, operations plan, management team, finances, and more. The guidance emphasizes the importance of research and thinking systematically about all aspects of the business. It notes that the process of planning is as valuable as the finished document, as it helps avoid costly mistakes by considering ideas critically.
1. The document provides details on how to write an effective business plan, including outlining the key components such as executive summary, company analysis, marketing plan, financial plan, and oral presentation.
2. An effective business plan sets goals, secures funding, helps manage daily operations, and allows entrepreneurs to foresee potential problems. It should demonstrate a realistic, achievable, and viable business idea.
3. Key parts of a business plan include an executive summary that concisely outlines the business, management team, market, products/services, finances, and competition. An oral presentation should highlight the problem, solution, business model, and financial projections.
The document discusses what a business plan is and why it is important. It defines a business plan as a formal statement of business goals, reasons they are attainable, and the plan to reach those goals. A business plan also provides an overview of how a company will operate and grow. The document notes that a business plan contains elements like an executive summary, product description, management team, market analysis, marketing strategy, and financial projections. It explains that a business plan is a necessary tool that provides a blueprint for a business, helps ensure all involved are aligned, and helps develop a game plan and identify priorities and questions to answer. Developing a business plan can also help avoid big mistakes and help raise capital.
This document provides a template and guidance for creating a business plan. It discusses that the business plan consists of a narrative and financial worksheets. The narrative answers over 150 questions about the business divided into several sections. The real value is in the research and planning process, not just the finished document. The template is generic but should be modified for each specific business. Creating a good plan typically takes several weeks to properly research and develop assumptions. Assistance is available from SCORE to help with the business plan.
Structural Design Process: Step-by-Step Guide for BuildingsChandresh Chudasama
The structural design process is explained: Follow our step-by-step guide to understand building design intricacies and ensure structural integrity. Learn how to build wonderful buildings with the help of our detailed information. Learn how to create structures with durability and reliability and also gain insights on ways of managing structures.
Business Plans - Write Your Script Before You Have To Perform ItGeorge Marcou
This document provides guidance on creating an effective business plan. It emphasizes that planning is essential for business success and failure to plan properly can lead a business to fail. A complete business plan should include sections on the industry, company aims and vision, market research, management, operations, marketing, sales, and finances. Developing a thorough business plan allows a business owner to identify any gaps or weaknesses and remedy them before problems arise. The plan then serves as a roadmap to guide the business as it works to achieve its goals.
This document outlines the sections of a business plan, including an executive summary, business description and vision, market research, management and organization, marketing and sales strategy, production, location, legal environment, inventory, suppliers, personal financial statements, startup expenses and capitalization, financial plan, and appendices. The executive summary explains the business, customers, owners, and future outlook. Market research involves both secondary research using published information and primary research gathering original data. The financial plan consists of profit and loss projections and a cash flow projection.
Business Plan is a document required at the time of funding your business or ...ymandhanya
The document outlines the purpose and steps involved in creating a business plan. It discusses that a business plan is a blueprint that identifies business opportunities and converts ideas into successful ventures. It involves tasks like identifying strengths/weaknesses, assessing feasibility, and allocating resources. The business plan gives direction to entrepreneurs, helps evaluate prospects, seeks loans, and helps with decision making. The steps involved include preliminary investigation of the idea and environment, generating business ideas, and scanning the internal and external environment.
The document provides information on running a business successfully, including:
- Key topics that will be covered are the meaning and definition of business, factors for business success, how to run a business, and tips for a successful business.
- Some of the most important factors that can impact business success are market demand, building the right team, leadership preparation, networking, competitive analysis, pricing strategy, and long-term goals.
- To run a business well requires skills like great marketing, drafting a clear business plan, innovating, developing a strong company culture, focusing on financial goals, refining processes, using the right tools, and having a support system. Maintaining organization, records, creativity, focus,
The business plan guide provides information on preparing a business plan including analyzing your business idea and yourself, the key components of a business plan, getting advice and support, and using the accompanying business plan template. The template includes sections for business details, registration details, business premises, organization chart, and management and ownership.
Introduction to EntrepreneurshipPage 21 of 27Business Plan for aTatianaMajor22
This document provides guidance on creating a business plan. It recommends answering over 150 questions divided into sections to develop a collection of essays covering topics like the business description, products/services, marketing plan, operations plan, management team, and financial projections. The value is in the research and systematic thinking required. It typically takes several weeks to properly complete a good plan.
This document provides guidance on key elements to include in a business plan, including an overview of ownership structures, factors to consider when choosing a structure, tips for choosing a business name, the importance of networking, what investors seek in startup pitches, possible financing options, conducting industry and market analyses, outlining management needs, describing operations, and creating financial projections. It stresses that the executive summary should concisely summarize the business, management, market, operations, competition, and financials to entice readers to learn more.
Business Plan for a Startup Business The business plan.docxdewhirstichabod
The document provides guidance on creating a business plan, with sections on general company description, products/services, marketing plan, operational plan, management/organization, finances, and appendices. It emphasizes that the business plan outlines the narrative of the business and contains over 150 questions to help structure the plan. The real value is in the research and planning process itself, to systematically think through the business idea and avoid costly mistakes.
The document discusses the key components of a successful business plan. It identifies the three primary functions of a business plan as an action plan, road map, and sales tool. It provides guidance on the essential elements that should be included in a business plan, such as an executive summary, company overview, product/service description, market analysis, marketing plan, financial plan, management plan, and funding requests. It emphasizes that a well-researched and comprehensive business plan is important for evaluating the feasibility of a new business idea, communicating the concept to potential investors or partners, and providing an operating plan to help ensure success.
This document provides an overview and template for a business plan. It explains that the plan consists of a narrative and financial worksheets. The narrative addresses over 150 questions divided into sections about the business. Research and thinking through the questions systematically is valuable for avoiding costly mistakes. The document notes that completing a good plan typically takes several weeks. It emphasizes modifying the generic template to suit the reader's specific business and goals.
This document provides a template and guidance for creating a business plan. It explains that the business plan consists of a narrative and financial worksheets. The narrative addresses over 150 questions divided into sections about the business. Though time-consuming, creating a thorough business plan is valuable as it requires thoroughly researching and systematically planning the business. The template provided is a generic model that should be modified for each specific business and industry. It emphasizes key areas to focus on like operations, management, marketing and financial projections. Completing a good business plan typically takes several weeks.
Module 3 business planning with benefit of hindsightrestartplatform
This document provides information about business planning and experimentation. It discusses the importance of business planning, but also notes that experimentation may be a better approach in some cases. Business plans are important for setting goals and evaluating progress, but they do not guarantee success. The document outlines common myths about business planning, such as the idea that plans are only for startups or only needed for raising capital. It emphasizes that plans should be concise and focus on key questions like the problem being solved, target customers, competition, and financial projections. Overall, the document suggests that while planning is valuable, experimenting and getting early customer feedback may be lower risk approaches in some sectors compared to traditional business planning models.
This document provides a template and guidance for creating a business plan. It includes sections for an executive summary, company description, products/services, marketing plan, operations, management, finances, and appendices. The introduction explains that the business plan template contains over 150 questions to help systematically research and plan the business. It emphasizes that the most important part is the planning process, not just the final document, as it helps avoid costly mistakes. The document advises customizing the template to the specific business and researching thoroughly to populate each section with accurate details, statistics, and financial projections.
This document provides a template for a business plan, including sections on the executive summary, company description, products/services, marketing plan, operations, management, finances, and appendices. It notes that the marketing plan requires research on the target market and industry trends. The plan should demonstrate competitive advantages, pricing structures, and growth potential. Market research can be secondary using published sources, or primary by gathering original data. The goal is to have a well-researched marketing plan to support financial projections.
An introduction to business plans outlines the purpose and components of an effective business plan. A business plan serves as a blueprint that predicts viability and forecasts success for a proposed business project. It conveys an entrepreneur's vision to potential investors. There are typically three primary parts to a business plan - the business concept, marketplace section, and financial section. The business concept discusses the industry, business structure, products/services. The marketplace section describes potential customers and competition. The financial section contains income/cash flow statements and balance sheets. A good business plan follows guidelines and breaks into seven key components such as executive summary, business description, and financial factors.
This document provides a template and guidance for creating a business plan. It includes sections for an executive summary, general company description, products/services, marketing plan, operations plan, management team, finances, and more. The guidance emphasizes the importance of research and thinking systematically about all aspects of the business. It notes that the process of planning is as valuable as the finished document, as it helps avoid costly mistakes by considering ideas critically.
1. The document provides details on how to write an effective business plan, including outlining the key components such as executive summary, company analysis, marketing plan, financial plan, and oral presentation.
2. An effective business plan sets goals, secures funding, helps manage daily operations, and allows entrepreneurs to foresee potential problems. It should demonstrate a realistic, achievable, and viable business idea.
3. Key parts of a business plan include an executive summary that concisely outlines the business, management team, market, products/services, finances, and competition. An oral presentation should highlight the problem, solution, business model, and financial projections.
The document discusses what a business plan is and why it is important. It defines a business plan as a formal statement of business goals, reasons they are attainable, and the plan to reach those goals. A business plan also provides an overview of how a company will operate and grow. The document notes that a business plan contains elements like an executive summary, product description, management team, market analysis, marketing strategy, and financial projections. It explains that a business plan is a necessary tool that provides a blueprint for a business, helps ensure all involved are aligned, and helps develop a game plan and identify priorities and questions to answer. Developing a business plan can also help avoid big mistakes and help raise capital.
This document provides a template and guidance for creating a business plan. It discusses that the business plan consists of a narrative and financial worksheets. The narrative answers over 150 questions about the business divided into several sections. The real value is in the research and planning process, not just the finished document. The template is generic but should be modified for each specific business. Creating a good plan typically takes several weeks to properly research and develop assumptions. Assistance is available from SCORE to help with the business plan.
Structural Design Process: Step-by-Step Guide for BuildingsChandresh Chudasama
The structural design process is explained: Follow our step-by-step guide to understand building design intricacies and ensure structural integrity. Learn how to build wonderful buildings with the help of our detailed information. Learn how to create structures with durability and reliability and also gain insights on ways of managing structures.
SATTA MATKA SATTA FAST RESULT KALYAN TOP MATKA RESULT KALYAN SATTA MATKA FAST RESULT MILAN RATAN RAJDHANI MAIN BAZAR MATKA FAST TIPS RESULT MATKA CHART JODI CHART PANEL CHART FREE FIX GAME SATTAMATKA ! MATKA MOBI SATTA 143 spboss.in TOP NO1 RESULT FULL RATE MATKA ONLINE GAME PLAY BY APP SPBOSS
Discover timeless style with the 2022 Vintage Roman Numerals Men's Ring. Crafted from premium stainless steel, this 6mm wide ring embodies elegance and durability. Perfect as a gift, it seamlessly blends classic Roman numeral detailing with modern sophistication, making it an ideal accessory for any occasion.
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https://www.productmanagementtoday.com/frs/26903918/understanding-user-needs-and-satisfying-them
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In this webinar, we won't focus on the research methods for discovering user-needs. We will focus on synthesis of the needs we discover, communication and alignment tools, and how we operationalize addressing those needs.
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• Introduce a taxonomy for user goals with real world examples
• Present the Onion Diagram, a tool for contextualizing task-level goals
• Illustrate how customer journey maps capture activity-level and task-level goals
• Demonstrate the best approach to selection and prioritization of user-goals to address
• Highlight the crucial benchmarks, observable changes, in ensuring fulfillment of customer needs
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2. - NEIL ARMSTRONG
A business plan is a written document that details what a
business is, what direction it will take, and how you’ll get it
there.
Practically speaking, the business plan evaluates your
business’ viability. As the Department of Trade and
Industry (DTI) puts it, the document allows entrepreneurs to
find out whether or not their business idea will bring in
more money than how much it costs to start and run it.
3. Your best quote that reflects your
approach… “It’s one small step for
man, one giant leap for mankind.”
- NEIL ARMSTRONG
More than just a document, the business plan helps business owners
to figure out the key aspects of an enterprise, including the
following:
Business goals and strategies to meet them
Competitive edge and how to leverage it
Potential problems and how to solve them
Funding required to start the business
Equipment, facilities, and manpower needed for operations
4. Your best quote that reflects your
approach… “It’s one small step for
man, one giant leap for mankind.”
- NEIL ARMSTRONG
Who Needs a Business Plan and What Is It Used For?
Every aspiring entrepreneur who will spend a great amount of
money, time, and energy to earn a profit needs a business plan.
Business planning is a crucial part of starting an
entrepreneurial journey, no matter how small or big a business
is. Never skip this step—as they say, failing to plan is planning
to fail.
5. Here are some examples of business types that benefit much from
business planning:
Startups
Founders of startup businesses seek funds to begin their new venture.
Business plans help them persuade investors and lenders to provide the
funding they need.
For startups, a business plan explains the nature of the new venture, how
it will achieve its goals, and why the founders are the best people to lead
the company. The startup business plan should also specify the capital
needed to jumpstart the new business.
6. Your best quote that reflects your
approach… “It’s one small step for
man, one giant leap for mankind.”
- NEIL ARMSTRONG
Existing Businesses
Not only do startups gain advantage from a business plan—existing
enterprises need it, too.
But business plans for growing businesses serve a different purpose.
Usually, a business plan helps a middle-stage business raise funds for
additional facilities, equipment, manpower, and others needed for
expansion. This document also defines strategies for growth and
allocates resources based on strategic priorities.
Growing businesses also use business plans to communicate their vision
to various stakeholders such as customers, business partners,
potential investors and lenders, employees, and suppliers.
For such needs, a business plan for existing businesses lays out the
goals, strategies, metrics to evaluate success, responsibilities, and
resource allocation.
7. Your best quote that reflects your
approach… “It’s one small step for
man, one giant leap for mankind.”
- NEIL ARMSTRONG
Social Enterprises
Social enterprises may not be as profit-driven as other business
types, but that doesn’t mean they need business planning any
less.
A social enterprise needs to prepare a business plan to achieve its
social objectives and keep empowering the communities it’s
supporting. This document is what government agencies and
donor agencies require and evaluate when approving grants for
funding a social project.
A social enterprise business plan determines the social issue that
a business idea will solve, its beneficiaries, products or services,
target market, and sales projections, among many others.
8. Your best quote that reflects your
approach… “It’s one small step for
man, one giant leap for mankind.”
- NEIL ARMSTRONG
Non-Profit Organizations/NGOs
Like social enterprises, non-governmental organizations (NGOs)
can also use business plans to source funds for their campaigns
and projects.
A nonprofit business plan discusses the problems an NGO is
trying to solve through a certain project, as well as how it will do
that and how much resources are needed.
It also helps the organization and its board members to prepare for
risks by making projections on how likely the activities will push
through and how the current sources of funds will continue to
yield a certain level of revenue. Most importantly, the business
plan defines the Plan B if the original plan ends up failing.
9. - NEIL ARMSTRONG
Business Plan Format and Its Components
How does a business plan exactly look like? There’s no recommended
universal format for business plans. Ideally, yours is customized
according to the nature of your business and what you’re going to use
the plan for.
However, all business plans have sections in common. Here’s a quick
walkthrough of the six components that make up a business plan.
10. Your best quote that reflects your
approach… “It’s one small step for
man, one giant leap for mankind.”
Writing a business plan can be a daunting task, but it is an essential step in starting a successful
business. Here are some steps to help you get started:
1. Executive Summary: This section should provide a brief overview of your business idea, including
your mission statement, target market, and unique selling proposition.
2. Company Description: This section should describe your company in more detail, including its
history, legal structure, and management team.
3. Market Analysis: This section should describe your target market and competitors, as well as any
trends or opportunities in the industry.
4. Products and Services: This section should describe your products or services in detail, including
how they will be produced or delivered.
5. Marketing and Sales: This section should outline your sales and marketing strategies, including
how you plan to reach your target audience and generate revenue.
6. Operations: This section should describe how your business will operate on a day-to-day basis,
including staffing, logistics, and other operational details.
7. Financial Plan: This section should include financial projections for your business, such as revenue,
expenses, and cash flow.
To write a business plan, you should use clear, concise language and avoid jargon. You should also
back up your plan with supporting documents, such as market research, financial statements, and
legal documents.
11. - NEIL ARMSTRONG
How To Write an Effective Business Plan
Whether you need a quick-launch overview or an in-depth plan for investors, any
business plan should cover the six key elements outlined in our free template and
explained below. The main difference in starting a small business versus an investor-
funded business is the market research and operational and financial details
needed to support the concept.
12. Your Mission or Vision
Start by declaring a “dream statement” for your business. You can call this your executive summary,
vision statement or mission. Whatever the name, the first part of your business plan summarizes your
idea by answering five questions. Keep it brief, such as an elevator pitch. You’ll expand these answers
in the following sections of the simple business plan template.
What does your business do? Are you selling products, services, information or a combination?
Where does this happen? Will you conduct business online, in-store, via mobile means or in a
specific location or environment?
Who does your business benefit? Who is your target market and ideal customer for your
concept?
Why would potential customers care? What would make your ideal customers take notice of
your business?
How do your products and/or services outshine the competition? What would make your
ideal customers choose you over a competitor?
These answers come easily if you have a solid concept for your business, but don’t worry if you get
stuck. Use the rest of your plan template to brainstorm ideas and tactics. You’ll quickly find these
answers and possibly new directions as you explore your ideas and options.
13. Your best quote that reflects your
approach… “It’s one small step for
man, one giant leap for mankind.”
- NEIL ARMSTRONG
Offer and Value Proposition
This is where you detail your offer, such as selling products, providing services or
both, and why anyone would care. That’s the value proposition. Specifically, you’ll
expand on your answers to the first and fourth bullets from your mission/vision.
As you complete this section, you might find that exploring value propositions
uncovers marketable business opportunities that you hadn’t yet considered. So
spend some time brainstorming the possibilities in this section.
For example, a cottage baker startup specializing in gluten-free or keto-friendly
products might be a value proposition that certain audiences care deeply about.
Plus, you could expand on that value proposition by offering wedding and other
special-occasion cakes that incorporate gluten-free, keto-friendly and traditional
cake elements that all guests can enjoy.
14. Your best quote that reflects your
approach… “It’s one small step for
man, one giant leap for mankind.”
- NEIL ARMSTRONG
3. Audience and Ideal Customer
Here is where you explore bullet point number three, who your business will benefit. Identifying
your ideal customer and exploring a broader audience for your goods or services is essential in
defining your sales and marketing strategies, plus it helps fine-tune what you offer.
There are many ways to research potential audiences, but a shortcut is to simply identify a problem
that people have that your product or service can solve. If you start from the position of being a
problem solver, it’s easy to define your audience and describe the wants and needs of your ideal
customer for marketing efforts.
Using the cottage baker startup example, a problem people might have is finding fresh-baked gluten-
free or keto-friendly sweets. Examining the wants and needs of these people might reveal a target
audience that is health-conscious or possibly dealing with health issues and willing to spend more for
hard-to-find items.
However, it’s essential to have a customer base that can support your business. You can be too
specialized. For example, our baker startup can attract a broader audience and boost revenue by
offering a wider selection of traditional baked goods alongside its gluten-free and keto-focused
specialties.
15. - NEIL ARMSTRONG
4. Revenue Streams, Sales Channels and Marketing
Thanks to our internet-driven economy, startups have many revenue
opportunities and can connect with target audiences through various channels.
Revenue streams and sales channels also serve as marketing vehicles, so you can
cover all three in this section.
Revenue Streams
Revenue streams are the many ways you can make money in your business. In your plan
template, list how you’ll make money upon launch, plus include ideas for future expansion.
The income possibilities just might surprise you.
16. Your best quote that reflects your
approach… “It’s one small step for
man, one giant leap for mankind.”
- NEIL ARMSTRONG
For example, our cottage baker startup might consider these revenue streams:
Product sales: Online, pop-up shops, wholesale and (future) in-store sales
Affiliate income: Monetize blog and social media posts with affiliate links
Advertising income: Reserve website space for advertising
E-book sales: (future) Publish recipe e-books targeting gluten-free and keto-friendly
dessert niches
Video income: (future) Monetize a YouTube channel featuring how-to videos for the
gluten-free and keto-friendly dessert niches
Webinars and online classes: (future) Monetize coaching-style webinars and online
classes covering specialty baking tips and techniques
Members-only content: (future) Monetize a members-only section of the website for
specialty content to complement webinars and online classes
Franchise: (future) Monetize a specialty cottage bakery concept and sell to franchise
entrepreneurs
17. Your best quote that reflects your
approach… “It’s one small step for
man, one giant leap for mankind.”
- NEIL ARMSTRONG
Sales Channels
Sales channels put your revenue streams into action. This section also answers the “where will this happen”
question in the second bullet of your vision.
The product sales channels for our cottage bakery example can include:
Mobile point-of-sale (POS): A mobile platform such as Shopify or Square POS for managing in-person
sales at local farmers’ markets, fairs and festivals
E-commerce platform: An online store such as Shopify, Square or WooCommerce for online retail sales
and wholesale sales orders
Social media channels: Facebook, Instagram and Pinterest shoppable posts and pins for online sales
via social media channels
Brick-and-mortar location: For in-store sales, once the business has grown to a point that it can
support a physical location
18. Your best quote that reflects your
approach… “It’s one small step for
man, one giant leap for mankind.”
Channels that support other income streams might include:
Affiliate income: Blog section on the e-commerce website and affiliate partner accounts
Advertising income: Reserved advertising spaces on the e-commerce website
E-book sales: Amazon e-book sales via Amazon Kindle Direct Publishing
Video income: YouTube channel with ad monetization
Webinars and online classes: Online class and webinar platforms that support member
accounts, recordings and playback
Members-only content: Password-protected website content using membership apps
such as MemberPress
19. Your best quote that reflects your
approach… “It’s one small step for
man, one giant leap for mankind.”
Marketing
Nowadays, the line between marketing and sales channels is blurred. Social media outlets, e-books,
websites, blogs and videos serve as both marketing tools and income opportunities. Since most are
free and those with advertising options are extremely economical, these are ideal marketing outlets
for lean startups.
However, many businesses still find value in traditional advertising such as local radio, television,
direct mail, newspapers and magazines. You can include these advertising costs in your simple
business plan template to help build a marketing plan and budget.
20. Your best quote that reflects your
approach… “It’s one small step for
man, one giant leap for mankind.”
- NEIL ARMSTRONG
Structure, Suppliers and Operations
This section of your simple business plan template explores how to structure and operate your business.
Details include the type of business organization your startup will take, roles and responsibilities, supplier
logistics and day-to-day operations. Also, include any certifications or permits needed to launch your
enterprise in this section.
Our cottage baker example might use a structure and startup plan such as this:
Business structure: Sole proprietorship with a “doing business as” (DBA).
Permits and certifications: County-issued food handling permit and state cottage food certification for
home-based food production. Option, check into certified commercial kitchen rentals.
Roles and responsibilities: Solopreneur, all roles and responsibilities with the owner.
Supply chain: Bulk ingredients and food packaging via Sam’s Club, Costco, Amazon Prime with annual
membership costs. Uline for shipping supplies; no membership needed.
Day-to-day operations: Source ingredients and bake three days per week to fulfill local and online
orders. Reserve time for specialty sales, wholesale partner orders and market events as needed. Ship
online orders on alternating days. Update website and create marketing and affiliate blog posts on non-
shipping days.
21. Your best quote that reflects your
approach… “It’s one small step for
man, one giant leap for mankind.”
- NEIL ARMSTRONG
Financial Forecasts
Your final task is to list forecasted business startup and ongoing costs and profit projections in
your simple business plan template. Thanks to free business tools such as Square and free
marketing on social media, lean startups can launch with few upfront costs. In many cases, cost of
goods, shipping and packaging, business permits and printing for business cards are your only
out-of-pocket expenses.
22. Your best quote that reflects your
approach… “It’s one small step for
man, one giant leap for mankind.”
- NEIL ARMSTRONG
Gross Profit Projections
This helps you determine the retail prices and sales volume required to keep your business
running and, hopefully, earn income for yourself. Use product research to spot target retail prices
for your goods, then subtract your cost of goods, such as hourly rate, raw goods and supplier
costs. The total amount is your gross profit per item or service.
Bottom Line
Putting careful thought and detail in a business plan is always beneficial, but don’t get so bogged
down in planning that you never hit the start button to launch your business. Also, remember
that business plans aren’t set in stone. Markets, audiences and technologies change, and so will
your goals and means of achieving them. Think of your business plan as a living document and
regularly revisit, expand and restructure it as market opportunities and business growth demand.