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 BUSINESS PLANS
 

Why Write a Business Plan?

To build a good house you need a good blueprint and foundation. Without it your house will fall down. The same holds true for your business. A business plan is a blueprint and roadmap for the development of your company. The goals of a business plan are:

  • To develop guidelines for the operation of your company.

  • To develop and implement your ideas into actual business practices, products or services.

  • To identify the strengths and weaknesses of your company and its competitors, and to provide a strategy to further your company’s growth.

  • To assist you to obtain money from lenders (Get a Loan.) (Sell some ownership in your company to someone else.)

The 5 Minute Business Plan

 

If you have the main components, the order doesn’t matter that much, but here’s the order we suggest.

        1.  Executive Summary: Write this last. It’s just a page or two of highlights.

 

2.     2.  Company Description: Legal establishment, history, start-up plans, etc.

 

3.     3.  Product or Service: Describe what you’re selling. Focus on customer

                benefits.

 

4.     4.  Market Analysis: You need to know your market, customer needs, where

                they are, how to reach them, etc.

 

5.     5.  Strategy and Implementation: Be specific. Include management

                responsibilities with dates and budgets. Make sure you can track results.

 

6.     6.  Web Plan Summary: For e-commerce, include discussion of website,

                development costs, operations, sales and marketing strategies.

 

7.     7.  Management Team: Describe the organization and the key management

                 team members.

8.     8.  Financial Analysis: Make sure to include at the very least your projected

                Profit and Loss and Cash Flow tables.

 

 

For more information on business plans, please log in or join now to get started!

 

 

 

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