The primary value of your business plan is to create a document that describes and evaluates all aspects of the strategic and economic viability of your business venture and develops the company's approach to capitalize on future opportunities.
A well thought out, organized and clearly articulated business plan, written from the management team's vision, experience and perspective, will ultimately provide a road map to the company's operational, growth and financial success.
Business plans that are meaningful management tools and that attract initial or additional funding are customized to each industry, company, competitive position, growth opportunities, and management team, among others. Writing a professional plan that will attract and engage investors is as much art as it is science.
These are a few areas to consider when tailoring a business plan to the client's situation:
The Executive Summary
While appearing first, this section of the business plan is written last. It summarizes the key elements of the entire business plan, including the mission statement.
The Industry
An overview of the industry sector that your business will be a part of, including industry trends, major players in the industry, and estimated industry sales. This section of the business plan will also include a summary of your business' place within the industry.
Market Analysis
An examination of the primary target market for your product or service, including geographic location, demographics, your target market's needs and how these needs are currently being met.
Competitive Analysis
An investigation of your direct and indirect competitors, with an assessment of their competitive advantages and an analysis of how you will overcome any entry barriers to your chosen market.
Marketing Plan
A detailed explanation of your sales strategy, pricing plan, proposed advertising and promotion activities, and benefits of your products and/or services.
Management Plan
An outline of your business' legal structure and management resources, including your internal management team, external management resources, and human resource needs.
Operating Plan
A description of your business' physical location, facilities and equipment, kinds of employees needed, inventory requirements and suppliers, and any other applicable operating details, such as a description of the manufacturing process.
Financial Plan
Include your detailed financial statements, both historic and projected, a financial statement analysis, a description of your funding requirements, and your investors’ projected return on investment.
Appendices and Exhibits
Any additional information that will help establish the credibility of your business idea, such as marketing studies, photographs of your products, and/or contracts or other legal agreements pertinent to your business.
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