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A Sample Plan Business Plan Objective Throughout the process of creating a business plan, you need to keep in mind its objective.
Why are you writing the plan? Is it to manage the business? Or is it to raise money? A business plan may be an annual plan for managing your business. Or a business plan may be primarily developed for attracting capital. There are exceptions, and often the existing business plan pdf between annual plans and business plans becomes muddled.
Management may use the start-up business plan as a basis for operating the business. When creating your business plan, keep your objectives in mind. Keeping a clear distinction between annual plans and business plans is not important. What is important is keeping the primary objective of and the primary audience for the plan clear.
As a rule of thumb, if the plan will be used to attract investors or lenders, this is the primary objective and outsiders are the primary audience. If the plan will help manage the business, this is the primary objective and insiders are the primary audience.
What follows is a discussion of key parts of a relatively simple business plan. Summary Summaries should be short and concise—one page is ideal. It should cover the following points: Start with a brief overview of your business strategy.
If your business will be based, at least initially, on a particular product or service, describe it in the introductory paragraph.
In the next paragraph or two explain why your strategy makes sense or why your product or service has promise. Are you entering a fast- growing market or providing a unique product or service that distinguishes your business from existing businesses? Next, you should describe the stage your business is in.
Is it already generating sales? Have you done test marketing? Has a prototype been developed? Has market research been performed? Name the key people in your organization and describe, briefly, what special talents, expertise, or connections they will bring to the business.
If your plan is being developed to raise capital, be clear about the amount of capital you are seeking and how you plan to use investor or lender funding. Describe the form of business organization you will take and where the company will be located. Your business plan summary should short and easy to understand.
Remember to keep your summary short and easy to understand. Avoid technical jargon and details. Just focus on the key elements that you think will be of most interest to your audience. Skip the pie-in-the-sky profit projections and outlook generalizations.
Concept The concept is a clear explanation of your business strategy.
It is not a definition of the business or a summary of its markets but, instead, a quick summary of the one or two key factors that set your business apart from the competition. New business strategies are often closely tied to a particular product or service.
If this is your situation, include a clear and substantive description of your principal product or service. Follow this with a focused discussion of what will make your product or service stand out from any similar offerings in the marketplace. Focus in depth on just a few of the most competitive attributes of your product or service.
You should also describe any other aspect of your business that is fundamental to your strategy. Areas that might have significant impact on your strategy are marketing, research and development, or strategic alliances with other firms. For example, if everyone else in your industry is selling his or her products through retail channels but you feel that you can develop a strong competitive advantage by selling via direct mail, then you should discuss this in the concept section.Nov 26, · Beef cattle farming business plan statistics table z wiley treatment plan library persuasive essay outline college desdemona character analysis pizza business plan pdf distance formula maths awp conference , how to end sleep deprivation research paper prices why is black history month important essay project essay example cooperative.
From the business plan summary to the exit strategy, entrepreneur Bob Adams takes you through a complete business plan and explains each step. Creating a Business Plan for a New or Existing Business.
Part 1 of 7 - Swipe to Advance. From the business plan summary to the exit strategy, Bob Adams takes you through a complete business plan .
From the business plan summary to the exit strategy, entrepreneur Bob Adams takes you through a complete business plan and explains each step. Creating a Business Plan for a New or Existing Business. Part 1 of 7 - Swipe to Advance. From the business plan summary to the exit strategy, Bob Adams takes you through a complete business plan and.
SMALL BUSINESS Business Plan Template: Help Goals are the real purpose behind your business and this plan, so give them plenty of thought. They will form the road map for your business success.
Think about your long, medium and health or viability –whether existing business or a start-up – by. Second, the business plan is a requirement if you are planning to seek loan funds. It will provide equipment and for training existing personnel in the use of that The first major section of your plan covers the details of your business.
Begin this section with a. Will your skill level match that of the existing doctor? Tis tool is furnised as a courtesy by Bank of merica Practice Solutions to assist you in te development of a Business Plan t is not intended to take te place of professional adice Please discuss any uestions it your accountant andor attorney.