A good business plan includes all aspects of the business. They usually are highly detailed and cover the industry, marketing, finance, market and all the other business features.
It may seem overwhelming, but it’s a major step to launch and grow your business. It usually contains 7 essential sections:
Executive summary
In this section, you should provide an overview of your business plan. It should be short and well written to attract leaders to learn more about your company. This part is best written at last although it appears first on the plan. It should include the business name and location first, then the products offered. After that it needs the mission and vision of the company, and lastly, it includes the purpose of the plan.
Company description
In this part, you must state who you are, how you operate and explain your goals. The description must provide information about the legal structure of the business, then a brief history as well as the needs your willing to satisfy through this business. Afterwards, you must add an overview of the products, customers and suppliers. Then, we write a summary of the company growth, including highlights about finance and market part. Finally, a short- and long-term goals list, and how to plan to execute them.
Products and services
It’s in this segment that you must clearly describe your products and services. You can include details about supplier costs and the net revenue expected from the sales. You can also include pictures to provide more clarity to your descriptions. It is best to emphasize customer benefits with your products to explain your advantages in comparison with the competitors, and to insert relevant copyright or trade secret data.
Market analysis
You can implement detailed results of your market studies to show your industry knowledge and accentuate your expertise on the subject. The market analysis must include the size and group of each targeted customer segment, next an industry description and outlook, and lastly a detailed evaluation of the strengths and weaknesses of the competitors.
Strategy and implementation
This segment should summarize the marketing strategy and the sales tactics you are willing to put into action. At this point, you can add details about costs, promotions, campaigns and logistics.
Organization and management
It is essential to include the company’s organizational structure, by identifying the owners, the board of directors and a description of departments and employees. You can also add a list of advisors such as accountants and the attorneys.
Financial plan and projections
This segment cannot be written without the help of a professional, an accountant’s knowledge is very important to provide historical financial data and realistic prospective financial information.
