Developing a Business Plan Appendix D Developing a Business Plan

What is a Business Plan? A well-written business plan serves two key functions: It organizes the business and validates its central idea. It summarizes the business and its strategy to obtain funding from lenders and investors. A business plan is a road-map, a guide, a blueprint A business plan shows that a potential owner is serious. Anybody who wants to be successful in business should have a business plan. It is not about creating a document to sit on your desk. It is about planning your success.

The Business Plan Executive Summary Introduction Marketing Strategy Financing the Business Resumes of Principals These are the most common elements of a business plan. Your plan should paint a picture of your organization and how it will operate to meet goals and objectives. The plan should be an overview for others and a map for you (business owners).

How Do I Write a Business Plan Company name, legal form, financial highlights, owners Organization chart, management, consultants, directors and employee agreements Marketing research, customer surveys, competitive analysis Product information, brochures, patents, licenses, trademarks, research and development plans Marketing plan and materials Financial statements – current and forecasted These are elements that you find in a typical business plan. Think of the plan as a clear statement of a business’s identity. Figure D.1 outlines some good questions to ask yourself. Business plans will range from 10 – 50 pages. The plan depends on the complexity of your business. The plan should be well organized and easy to use.

Resources Entrepreneur Magazine Inc Magazine Business Week National Venture Capital Association Writing the Business Plan Small Business Administration There are a variety of valuable books and websites that exist to help business owners. You should narrow down which resources are right for you. Click the links to view the websites of some of the resources. Writing the Business Plan link – click the Writing the Business Plan link on the website.