Create a Business Plan

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bizA business plan is the essential road map for establishing a successful business. Business plans are inherently future projections strategy defining the goals of business outlines, the methods for achieving them and combat hurdles.

A simple start-up business plan should include company description, market analysis, legal aspects, company description, intended product service, strategy implementation, management responsibilities and financial plan. Although there is no standard outline for a business plan as they are situation specific. But largely it should essentially be comprised of implementation details with dates, budgets, and individual responsibilities apart from the basic format.

If you are seeking funding, providing financial projections for a couple of year would be required.

The start-up plan starts with an executive summary (company profiles and goals) and ends with appendices showing monthly projections for a year or so.

If you have the main components, the order doesn’t matter that much, but here’s the outline you can refer to:

  • Company Description: Why and when it was formed, mission, strategy, etc.

  • Business Offerings: Whether selling Product or Service, describe what you’re selling, customer benefits should be taken into account.

  • Market Analysis: Analyze market, customer needs, their location, how to reach them, etc.

  • Strategy and Implementation: Be specific. Include management responsibilities with dates and budget.

  • Management Team: Include backgrounds of key members of the team, personnel strategy, and details.

  • Financial Plan: Include “Quantitative Interpretation” e.g.Profit and loss, cash flow, balance sheet, assumptions, business ratios, break-even analysis.