A business plan isn’t a scary document that you should stress over. It can actually be a good guide for how you want your business to go. Your business plan should be as unique as your business. You’ll want to revise your business plan as you learn more about your business and as you grow and expand. To start writing a business plan, think about these sections:
- Company description – your philosophy, structure, core team, and history.
- Industry overview – an understanding of trends and major players in your space to show that you’ve thought about what will impact your business and market.
- Market analysis – the demographics of your market.
- Competition – what is the competitive landscape? What barriers do you have to enter in the marketplace? How will you overcome it?
- Products and services – what is your company offering?
- Marketing plan – how you plan to reach your audience and persuade them to purchase from your business.
- Operating plan – how you will operate and get your product or service to market. Include information about your HR plan, your facilities, and your organizational structure.
- Technology plan – what types of technologies do you need and how much will it cost.
- Financials – startup costs, operating costs, cash-flow projections, and a balance sheet, all with details about each item. This is the engine of your business plan.
The executive summary is the centerpiece of your business plan. It’s an overview, like a book synopsis. Once you have the details of each section, you can pull out the most important information for the executive summary. The sections simply support what you say in this part of your business plan.
Don’t be scared to start putting your thoughts on paper. A business plan is designed to help you find holes in your ideas.
Instead of stressing over financing, contact the experts with Topfund Capital for funding options to take your startup to new places.