If you fail to plan, you plan to fail – that’s why writing a solid business plan is the best first step you can take toward making your dream of owning a successful small business a reality.
In this recording of our “Writing a Business Plan to Get What You Want!” webinar you’ll learn about a Business Plan and its sections, including:
- The importance of deciding who the plan is for
- The Business Overview – Talking about The Opportunity and why what you offer is The Solution; defining the target market; describing the unique aspects of a business that give it a competitive advantage and how the business owner intends to keep that advantage
- Vision – Where the owner sees their company in 3 – 5 years, the ultimate goal for the business, and a description of the exit strategy
- What to include in the Marketing Research section – Industry trends, consumer trends, wider general trends (government, economic, technology) that may impact a product; a business’ main competitors and their potential impact.
- Sales Projections – How to calculate reasonable sales projections to include in a business plan
- Management Team – Why is the owner the best person to launch this business, given their support team and contacts?
- Marketing and Sales Strategy – The plan to get the word out about products given factors like prices, location, size of area to be covered, marketing budget, and projected sales
- Operations – Discussion of operational issues like processes and delivery; how processes will be tracked to ensure completion; who handles human resources issues like hiring, scheduling, etc., and how they will be handled.
- Action Steps – The importance of showing the company’s goals for today, as well as its Short Term and Long Term goals.
- Financial Projections – Demonstration that the business is financially viable and sustainable over the long-term.
- Executive Summary – Written last, but first thing reader sees. Must entice reader to keep reading.