Planning for Success
You have no doubt heard the expression write, "Plan Failing plans to fail."
Many business owners just write a business plan, if they need to secure initial funding. However, your plan is much more than a document for banks and investors to read; it is an invaluable roadmap for the introduction and growth of your company.
To bring your business concept on paper, you have to think and the many factors that research, your company needs to ensure that a success. With a plan, you can not only detect potential weaknesses, opportunities and risks, you can make your plan help you make informed decisions about your venture, before legally or financially commit itself.
Here we have the key summarized portions, which can be found in a business plan.
The seven major sections of a business plan
1. Summary
Your summary should be 1-2 pages long and provide an overview of your business concept, important goals of your company and your plan, ownership structure, management team, your product or service offering, target market (s), competitive advantage, marketing strategy and a summary of your financial projections. Your summary should be written last, after writing the rest of the plan; Each paragraph should be a summary of the more detailed, in relation to part of the plan.
2 be. Business Overview
Add your overview contains details about your company history, vision and / or mission, objectives and your ownership structure.
3. Products and Services
expand on your products and services, including features and benefits, competitive advantages, and when a product to market, how and where their products are made.
4. Industry Overview
The Industry Overview is your chance to demonstrate your company's profitability by discussing the size and growth of your industry, the main markets within your industry, how your customers buy your products or services, and which markets will be targeted.
5. Marketing Strategy
You can describe your target market segments, competition, how will you differentiate your products or services, and your products or services "Unique Selling Proposition (USP).
- Discuss product or service pricing and promotion, including how to address your advertising programs for each of your target market segments.
- Make a plan of traditional and guerrilla marketing tactics such as trade fairs, press-magnetic events, Social media marketing (Facebook, Twitter, etc.), networking and printing, media or online advertising. Include the cost of each tactic connected.
- Describe how to sell your products or services (eg showcase, online distributors), and your target markets' buying cycle.
. 6 Operation Plan
Ask a profile of your management team, your personal plan, your business location (s) and equipment, your production plan (if the product sold), and an overview of day-to-day operations.
7. Financial Plan
Some believe that this is the most important part of a plan - so much so it's worth this section to 80% of your time devoted to writing. They will have to show three years' worth of projected financial statements, including income statement, pro forma balance sheets and monthly cash flow and the annual cash flow statements. Grasp every statement in a few easy-to-understand sentences and put them in a cover page for instructions. Be sure that all assumptions to document that your income and expenditure used in prediction.
Charge to plan the Small Business BC How to write a business plan checklist and start for your business success.
Business Plan Resources
Here are some resources to help you with your business plan:
Import / Export Business Registration Resources:
- How to register a business for import
- How to register a company for export
business plan reviewed
- Small Business BC Business plan Review service
Business plan Guides:
- TD Canada Trust: Business Planner
- writing an effective Business plan
Business plan writing:
- Scotiabank: Interactive Business plan Writer
- Canadian Youth Business Foundation: Interactive Business Planner
- Business Development Bank of Canada: Business plan template
- Small Business Administration: Business plan template
example Business plan:
- Gale Virtual Library: example business plan
- BPLANS.COM. For business plans
see our business planning resource guide
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