Business Plan Examples

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How To Write A Great Business Plan For Business Success

Creating a business plan for your business can be an exciting and eye-opening time as an entrepreneur. Though many people find this process to be fun and easy, others find it difficult. Regardless of how you feel about it, having a business plan is necessary for most businesses. A business plan serves two purposes: It serves a road map and walks you through the steps necessary to run your business until reach your goals. In addition, it is essential when seeking outside funding for your business. Investors and lenders like to see a well-written business plan to help them evaluate how likely it is that the business will become lucrative over time.

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Some essential components must be included in a business plan. Below are some elements of a good business plan.

1. Executive Summary – This section is used to summarize the most important areas of the plan. It provides a concise overview of the business plan and outlines your general idea. Even though it is the first part of the business plan, the executive summary is typically written last, after the whole plan is complete. This allows you to take one or two sentences from each section of the plan and summarize it easily. This means that someone can read the executive summary and understand what the entire plan is all about. Make sure you use strong and positive language when writing the executive summary to get the attention of investors and lenders and get them interested in your project.

2. Company Description – In this section, you should describe the general make-up of your company. You should provide the history, mission and goals of your company, its business model, and the future possibilities of your company. This section should be able to explain what you are trying to accomplish.

3. Product and Service Description – Here you should describe the products or services you offer or plan to offer. Make it clear and easy to understand by using simple language. Avoid acronyms and jargon that may only leave the reader confused.

4. Market Analysis – Use this section to demonstrate that you have good understanding of your target market. You should talk about your customers and solution that your business will provide. You should provide information about your competition as well as how you plan to provide services or products that are better and cheaper. Outline strategies you will implement to get your products or services to your customers.

5. Financials – In this section, you should include an income statement, balance sheet, profit and loss statement, cash flow and break-even analysis, as well as other pertinent financial documents. This section will help you figure out the amount of cash you will need to run the business and when it can begin to generate profits. You should get the help of an accountant or other financial expert in creating these documents.

==> Download your business plan template HERE!

6. Management Team – This is where you should highlight the background and experience of members of your management team. Demonstrate the management team’s ability to operate the business and include information about their educations, credentials, experience and skills. You can gain the trust and confidence of potential lenders and investors by listing members with highly impressive credentials and accomplishments on your management team or advisory board.


How To Write A Good Business Plan Following Easy Steps

A business plan is used to provide guidance for a new or existing business. It is used to outline company goals and strategies, and also provide a blueprint of marketing and financing plans. It provides important information on how to run a company until it reaches its goal.

Usually, investors and lenders want to see a business plan before considering providing an investment capital or a business loan. These people need to know what goals you have set for your company and how you intend to accomplish those. They use business plans to evaluate a business and decide determine whether or not to provide financial backing. A company backed by a strong business plan is a better investment or loan risk than one with a poorly created plan.

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When creating a business plan, you should research every aspect of your business. You’ll need to become thoroughly knowledgeable about your product or service and daily operations of your company.

When you write a business plan you need to follow a certain format. Your business plan should consist of the following elements:

Write an executive summary. This is one of the most important sections of a business plan. The executive summary should include information about your company, mission statement, summary about the product or service you offer, description of your competitors, revenue and cash requirement. It is an overview of the entire plan.

Provide your company description. Include your company name and address as well as other contact information. Also include the legal structure of your business. Briefly state the purpose of your company and discuss your customer service philosophy.

Describe the products or services you offer or plan to offer. If you have products to sell, include information pertaining to the manufacture of those products. If you offer services describe what kind of services they are.

Provide a detailed description of your target market. Include geographic location and demographics of your primary target market, as well as your target market’s needs. Also discuss your plans for development and distribution, and more.

Provide financial details. This includes financial statements, such an income statement, balance sheet and cash flow statement. An accountant can help you prepare financial statements or you can visit the U.S. Small Business for help.

Introduce your team of managers. Provide information about the management of your business. Describe who runs the business on a day-to-day basis. Discuss your management team’s educations, certifications, experiences, skills that relate to running the business profitably. Do not hesitate to include information about any impressive credentials achieved by your management team.

After writing your business plan, make sure you carefully read through it and correct any typographical errors and grammatical mistakes. You can have someone else go through it also to be sure everything looks good.

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If you need help with creating a business plan there are many excellent resources on the Internet that you can use. Business plan templates provide step-by-step instructions for preparing business plans. You may consider using these templates to help you quickly create effective business plans.


Make Your Business Plan Stand Out

If you’re starting a business, it’s safe to assume that you’re passionate about what you’re doing. While passion will get you started, it unfortunately won’t get you far. As drab and passion-sapping as a business plan might seem initially, the work of putting pen to paper can actually clarify and solidify those passions and turn them into something truly successful.

==> Click here to learn how to write great business plan!

That starts by asking yourself some key questions. For example, are you marketing your product or service to the right market? Are the benefits of your business obvious – and more importantly, do those benefits meet the needs of your customers? A business plan should help you clarify just what it is that your business has to offer and identify the appropriate market for it.

Before you start on financial projections or market analysis take a moment to think about your goals. Three questions will get you started on the right path:

1. What do you offer?
Dig deep here. If you’re opening a hair salon, obviously you’re offering haircuts. But beyond that, what are you selling? What sets you apart from the dozens of other salons in town who also essentially sell haircuts? Which need or specific clientele are you catering to?

Maybe some of those businesses offer more of a barbershop experience catered to a male crowd, while others are geared specifically to women. Perhaps some are particularly geared to kids, while others might cater primarily to a select style or ethnic group. All these businesses sell haircuts, but each sells to a unique and targeted clientele that is looking for a certain product, ambiance, and experience.

So what are you offering that makes you stand out? Are you one more run-of-the-mill, cookie-cutter business? Or do you offer special benefits and unique services that fill a client need.

2. What have you mastered?
While it might seem sensible to aim for a broad range of services, all this does is make you a jack of all trades, but master of none. As a startup business, figure out what you do really well – what you do better than most (or all) in your field. When you start small with a sharp focus on a specialized service or product, you’ll be extremely attractive to that specific group of buyers or customers.

3. What is your niche?
Perhaps you have a few areas where you really shine – so how do you carve out a niche? Perhaps you can identify a niche or market need through your own experience in the business; however, it can also be very helpful to do a little market survey with existing or potential customers. Dig around a little and see if you can uncover some untapped needs in the market.

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Nix the areas where your competitors are already firmly established and focus on areas that have been largely ignored. Perhaps one of your strengths can be tapped to fill the gap, making you the go-to business for that particular service or product.


How To Create A Business Plan For Success

A business plan is an essential document that serves as a blueprint as you run your start-up or existing business. It is used to outline your plans for operating the business. The business plan describes your business goals and strategies, and provides details on how you’re going to finance the business and the marketing methods you will use. Essentially, your business plan includes detailed information about your company’s goals and how you will meet them. A sound business plan is essential to the success of your business.

Often, a business plan is required when seeking funding for a business. Lending institutions and investors want to see a well-written business plan that outlines your plans for your company – they want to know what you hope to accomplish and the specific strategies you intend to implement to achieve your goals. They will review your business plan to determine whether or not they will lend you the money you requested. Based on information you provide, they can determine if your business is likely to become profitable or if it will fail. A solid business plan will impress lenders and convince them to approve your loan request.

==> Click here to learn how to write great business plan!

When writing a business plan there are certain elements you need to include. Here are the steps to creating a good business plan.

Executive Summary
This is a summary of all the information you will provide in greater detail in the following pages. This section provides an overview of the content and goals of your business plan, discussing all the highlights. The executive summary is key if you are seeking funding as it will lure potential investors into your business.

Company Overview
Describe your company, its business model, mission, and strategy. Also discuss why and when your company was formed, and its location and ownership.

Products or Service
Here’s where you provide information about your offering, whether it’s products or services, or both. If you sell products and you are the manufacturer, discuss how and where it’s manufactured. If you are just the distributor or retailer say so. If you provide services, discuss what those services.

In this section, outline your marketing strategy, including details of your market analysis, advertising, sales, customer service, and public relations. You can use this space to discuss your vision of why your business will be successful.

In the financial section, include your balance sheet, cash flow statements for the next three years, and your projected profit and loss statements.

If creating the business plan for lenders or investors, you want to highlight the experience of your company managers and executives and explain how that will help you meet company goals. For investors, it’s important to include any impressive credentials and high accomplishments of the members of your team. If they have received MBA from a prestigious university, include that information. If they have helped build a highly successful business, also provide that information.

==> Click here to learn how to write great business plan!

After you’re done writing your business plan, carefully proofread it and correct any typos and grammatical mistakes. If you feel you lack the skill to create a good business plan, there are many resources online that can help you create an impressive business plan. There are business plan templates designed specifically for crafting effective business plans in no time. You may want to look into using those to help you create business plans that work.


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