What To Include In A Business Plan
When you have dreams to start a successful business, you need a plan in order to make it all happen. A business plan can come in many different shapes and sizes, but all of the great ones have a few things in common.
What To Include In Your Business Plan
In this article, we’ll go over some of the must-haves to include in your business plan to help make sure your business has the best chance of getting off the ground.
1. A Description of Your Business
This may seem self-explanatory, but a concise, simple explanation of what your business does can go a long way in helping you to market it efficiently. If it takes a lot of words to write down your business concept, then you need to start paring it down.
Once you have your short description, then it’s ok to delve further into each of the unique parts of your business. You should talk about your industry, the organizational structure, the products and services you offer as well as your basic strategy.
2. Talk About Your Unique Differentiators
Every business has products and services that they offer in order to turn a profit. In fact, there are probably already quite a few other businesses offering similar products and services to your own. What makes your business stand out?
You should talk about your strengths and what makes you unique in your business plan. This will help you to know where to place your marketing dollars to help advertise your products and services.
3. What Kind of Financing You’ll Need
While some new businesses have enough capital to bootstrap their operation in the beginning, many others will need financing. Whether you’re looking to find investors, get a small business loan, finance equipment or otherwise, you’ll want to make sure you put those needs in your plan.
You’ll also want to talk about how your sales and marketing strategy will lend to you being able to pay off any financing you’re trying to secure. When will you be able to pay off your loans and how do you intend to do it?
4. Your Sales and Marketing Methods
Another thing you’ll want to include in your business plan is the methods of sales and marketing you’re hoping to employ as well as a basic budget to help fuel those things. Without sales and marketing to push your products, you’ll be hard-pressed to meet any of your revenue goals.
