Five Things Your Business Plan Should Include

Having a business plan is not going to assure you and your company of success but it will increase the chances exponentially if you have a guideline to help you navigate through the corporate world. Your plan will help you to express the goals and objectives that your team of employees should have, it lets you know just how viable your company is, and it’s also a tool to attract investors who will see the dedication toward making your dream become a reality that you have. Besides determining how you intend to out-perform your competitors, your business plan should have some distinguishing features that help you achieve success.

 business plan 300x199 Five Things Your Business Plan Should Include

  1. You’ll want to make your business plan look as professional as you can. Begin with a nice cover sheet complete with a table of contents, all of the company’s basic information such as contact information, and an executive summary that, in two pages or less, tells your proposals for making your dream work. Your plan should be no more than about thirty pages with supporting documentation contained in the appendix.

  2. You should include information about your marketing strategies that explain the details of your goods or services and who your intended audience will be. You should include topics such as:

  • The size of the market that you intend to serve

  • How rapidly this niche is growing

  • What opportunities you foresee and how you plan to take advantage of them

Be sure to record all of your sources in case you have to justify your claims to investors.

  1. It’s very important to examine your competition and ascertain how they are doing business. As you research other companies, you should use the following criteria in your study:

  • What products are they offering to clients

  • How much of the market share do they have

  • Why will consumers choose your products over theirs

  • What obstacles do you foresee in entering this market niche with them

  1. You’ll want to include the details of your operational plan so that information about your product, adverts, licensing, and cost structures will be laid out to use as a guideline. In this section of your business plan you should list your key suppliers and the distribution partners that will help you with your production and delivery of your product.

  2. One of the most important parts of your business plan will be the financial performance that you want your business to have. This part should include a twelve month projection of three components of your finances: a trailing income report, a balance sheet, and a cash flow statement. From your initial investment to the money that you’ll need to make your own payments to employees and vendors you must maintain a positive cash flow to keep your doors open and your products on the shelves. You may want to include your plans for recruitment factoring so that you have a Plan B on which you can rely if your cash flow becomes tight during a pay period.

By visiting a reputable website like Cashsimply, you can learn about services that are available to you and how they can help your business through difficult times when invoices aren’t paid in a timely fashion to cover the expenses that you have. With careful planning and attention to detail, your business plan will help you weather the growing pains of your new company.

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