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Business Plan Examples

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The Components of a Killer Business Plan

All business plans that are effective and that will draw financial backers to your idea will share the following components. Some people who write a business plan don’t understand how to properly do so, which leads them to omitting absolutely integral parts that don’t reflect very well on their understanding of a plan. Long story short: If your business plan fails to include these basic components, you’re telling your prospective funders that you haven’t even put together a smart business plan. Here are the components that should be in your plan. You can rearrange the order of said components if you like.

Executive Summary

Your plan’s abstract, the executive summary is a preview of everything that you’re going to cover in more intimate detail in the coming pages. It will spell out both the content and the objectives of your plan, covering the important parts.

Business Offering

This is the part to discuss why you’re in the business you’re in and just what you’re selling. If you’re selling products, explain whether or not you’re the manufacturer or the distributor. If you’re selling services, go into details about said services.

Company Overview

The overview offers additional information about your company. You should explain why you went into business, its model, its objectives and any strategic partnerships that you may have established.

Strategy and Implementation

Include the dates and deadlines of significant objectives in this part of your business plan. Here is where your potential funders will be searching for stuff to actively track. This section’s also great for mentioning your sales forecasts.

Management Team

Here is where you have to fill out the profiles of your executives and your managers. This is particularly applicable if you’re writing your business plan with either bankers or investors in mind as the target audience.

Marketing Plan/Analysis

This part is dedicated to your marketing tactic, where you highlight aspects of your customer service, sales, marketing, market analysis and public relations efforts. You should also include a summary of why you have confidence in the success of your new company.

Financial Projections

Here’s where you jot down the so-called quantitative interpretation of each fact you put down in your marketing and organizational parts of the plan. Finally, this should be the last section of your business plan.

These are the vital components of any good business plan. This is what your funders will be searching for when they read through your pages. Don’t disappoint them and sink your chances of receiving funding by omitting even one of these integral sections. If you include all these sections, your business plan will truly be killer.

Peter

How to Write a Perfect Business Plan

A business plan is the first step to building a successful business; no business should go without having one. In essence, it’s the road map of your business looking into the future. So how do you write a plan like this so that it gets you the funding that you deserve? Here’s a step-by-step guide on how to write the perfect business plan.

1. Organize Your Information

Organizing your information is vital because it’s the basis of every other step to writing the perfect business plan. This includes all the pertinent information about your company, products and services, customers, possible risks, market and competitors.

==> Download your business plan template now!

2. Compose an Executive Summary

The first part of your business plan needs to be the executive summary—that’s just how tradition dictates this plan. The executive summary will be relatively short—about two pages—and it should cover all of the elements of your business that your plan will outline.

3. Describe Your Business

This is the point at which you must literally spell out the whole purpose of your company. This is the ideal place to point out all of the skills both you and your management team possess.

4. Explain Your Product and/or Service

Here’s where you go into the specifics with regard to how you’re going to provide your customers with your product and/or service. You should also analyze all the expenses associated with this procedure, and you ought to list down all your supply sources.

5. Explain the Market You’re Entering

You should talk about any and all general trends in your industry. This should include some details on the market segment you’re after, the niche you’re after, and what type of customer you’re targeting.

6. Explain Your Marketing Plan

Here’s where you have to educate your readers on how you’ll generate sales through ads, public relations and promotions. One thing, though: Always take care to estimate all your costs very conservatively!

==> Download your business plan template now!

7. Talk About Your Revenue and Costs

No business plan will be complete without you highlighting both your revenue projections and your expenses. Take care to be very precise here, even if they’re just projections you’re working with. Your financial backers love hearing how much money you think you’re going to make!

Nobody will fund your business idea if you don’t have a business plan that is sound, makes sense and neatly outlines where you see your company in the future. Incorporate the above steps, and you’ll have a great business plan in no time.

Peter

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