When a business starts, a business plan needs to be determined. It’s best to be written down. The plan is meant to be flexible and may change over time. Business plans set up the goals and outcomes for your business.
I’ve summarized a basic business plan template for you. Take the time as I have in determining your business plan. It will result in goals that you can set your sights on achieving.
Do you have a business plan? If not use this template to start. The picture demonstrates that business targets/goals may differ.
Photo Credit: Frits Ahlefeldt-Laurvig via Compfight
Introduction
- Detailed description of the business and it’s goals.
- The business ownership and it’s legal structure.
- List of skills and experience in the business.
- Discuss advantages you and your business have over competitors.
Marketing
- Discuss products and services the company will offer.
- Identify customer demand for products and services.
- Identify your market, its size and locations.
- Explain how products and services will be advertised and marketed.
- Explain pricing strategy.
Financial Management
- Develop an expected return on investment and monthly cash flow for year one. Have projected income statements and balance sheets for two years.
- Discuss the break-even point.
- Determine your personal balance sheet and method of compensation.
- Determine who maintains accounting records and how they will be kept.
- Provide “what if” statements addressing alternative approaches to potential problems.
Operations
- Explain how the business will be managed day-to-day
- Discuss hiring and personnel procedures
- Discuss insurance, rent or lease agreements pertinent to your business
- Account for the equipment necessary to produce your goods or services.
- Account for production and delivery of products and services
Concluding statement
- Summarize your business goals and objectives and express your commitment to the success of your business.
Once your business plan is set I can help your business get started marketing it’s services online using Social Media sites such as: Facebook, Twitter, LinkedIn, and more. See my Packages and Pricing page for details.
Resource: www.sba.gov
