What's in a business plan?

What's in a business plan?

A business plan should prove that your business will generate
enough revenue to cover your expenses and make a satisfactory
return for bankers or investors.

1. Executive Summary--features the highlights of your plan and
   sells your idea in two pages or less.
2. Company Summary--a factual description of your company,
   ownership, and history.
3. Products (or Services or both)--describes your products
   and/or services and how they stand out from competitive products
   and services.
4. Market Analysis-provides a summary of your typical customers,
   competitive landscape, market size, and expected market
   growth.
5. Strategy and Implementation-describes how you will sell your
   product, how you will put your plan into action, and establishes
   milestones.
6. Management Summary-provides background on the management
   team, their experiences, and key accomplishments.
7. Financial Plan-contains key financials including sales, cash
   flow, and profits.

What makes a successful business plan?

• A well thought out idea
• Clear and concise writing
• A clear and logical structure
• Illustrates management's ability to make the business a
  success
• Shows profitability

• How do you write a business plan?

  Sitting down looking at a blank computer screen as you prepare to
  start your business plan can be daunting. You may want to look
  at some alternatives that will make the process a bit easier.

  Use Business Planning Software

  A good business planning software package will provide you with
  an outline for a well-developed, objective-based and professional
  business plan. Software packages will remove the problem of
  starting from scratch by structuring your plan for you. The
  software should ask you the right questions that will pull out
  the most important underlying concepts within your business idea.