Five Crucial Components of a Business Plan

The format of a Business Plan is something that has been developed and refined over the years and is something that should not be changed. Like a good recipe, a business plan needs to include certain ingredients to make it work.

When you create a business plan, don't attempt to recreate its format. Those reviewing this type of document have expectations you must meet. If they do not see those crucial decision-making components, they'll see no reason to proceed with their review of your business plan, no matter how great your business idea.

Executive Summary Section

Every business plan must begin with an Executive Summary section. A well-written Executive Summary is critical to the success of the rest of the document. Here is where you need to capture the attention of your audience so that they will be compelled to read on. Remember, it's a summary, so each and every word must be carefully selected and presented.

Use the Executive Summary section of your business plan to accurately describe the nature of your business venture including the need that you plan to fill. Show the reasons why people need your product or service. Show this by including a brief analysis of the characteristics of your potential market.

Describe the organization of your business including your management team. Also, briefly describe your sales and marketing plan or approach. Finally include the numbers that those reviewing your business plan want to see ? the amount of capital you seek, the carefully calculated sales projections and your plan to repay the loan.

If you've captured your audience so far they'll read on. Otherwise, they'll close the document and add your business plan to the heap of other rejected ideas.

Devote the balance of your business plan to providing details of the items outlined in the Executive Summary.

The Business Section

Be sure to include the legal name, physical address and detailed description of the nature of your business. It's important to keep the description easy to read using common terminology. Never assume that those reading your business plan have the same level of technical knowledge that you do. Describe how you plan to better serve your market than your competition is currently doing.

Market Analysis Section

An analysis of the market shows that you have done your homework. This section is basically a summary of your Marketing Plan. It needs to show the demand for your product or service, the proposed market, trends within the industry, a description of your pricing plan and packaging and a description of your company policies.

Financing Section

The Financing section must show that you are as committed to your business venture as you expect those reading your business plan to be. Show the amount of personal funds you are contributing and their source. Also include the amount of capital you need and your plan to repay this debt. Include all pertinent financial worksheets in this section: annual income projections, a break-even worksheet, projected cash flow statements and a balance sheet.

Management Section

Outline your organizational structure and management team here. Include the legal structure of your business whether it is a partnership, corporation or limited liability corporation. Include resumes and biographies of key players on your management team. Show staffing projection data for the next few years.

By now you're probably thinking that you don't need Business Plan just yet. Well you do, and there is business plan building software that can help you through this immense project. These software packages are easy to use and affordable. Use one today and produce a professional-quality Business Plan ? including all critical components ? tomorrow!

Copyright ? 2004 Cavyl Stewart. Get more software tips, strategies and recommendations to help you create your business plan by signing up for my Exclusive 100% free, 100% original content ecourse: "How To Failure-Proof Your Business Instantly." To sign up please visit: http://www.find-small-business-software.com/bizplan-ecourse.html

Wood Dale Chicago prom limo .. Lockport Chicago limo O’Hare
In The News:

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents
Internet browsers are useful, but they can be dangerous. Clicking on malicious links can direct you to dangerous websites that steal information or infect your device.
Apple's latest iOS update introduces advanced artificial intelligence capabilities, which may be capturing and analyzing sensitive information.
Breach site confirmed 56,904,909 Hot Topic users' data leaked online. Tech expert Kurt “CyberGuy" Knutsson says the company's silence makes matters even worse.
Tech expert Kurt “CyberGuy" Knutsson discusses how an innovative Easy-Way kit turns standard strollers electric, simplifying navigation for parents.
Tech expert Kurt “CyberGuy" Knutsson talks about T-Mobile being hacked in broad cyberattack on global phone and internet companies.
Tech expert Kurt “CyberGuy" Knutsson shows you how to add, customize and manage widgets for quick access to apps and info from your iPhone home screen.
Wrong Google searches can not only compromise your device and personal data. They can also bring law enforcement to your doorstep. Hackers are targeting Google searches.
China's Shanghai Kepler Robotics has developed a new humanoid robot that can carry up to 35 pounds per hand for commercial applications across various industries
Checking your hearing has gotten easier with the new hearing test feature in AirPods Pro 2. You can take reliable hearing tests using your iPhone or iPad.
Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.
Kurt "CyberGuy" Knutsson explains how a VPN — virtual private network — works and how running it can slow down the operation of your device.
The WalkON Suit F1, an exoskeleton developed to help people with disabilities, can actually walk over to a person in a wheelchair, solving a major problem.
ClickFix, a new scam targeting computer users, is on the rise in the U.S. The scam prompts its targets to click on a link to fix a problem.
Skydweller is the world's largest unmanned solar-powered aircraft that can stay airborne for weeks, and even months, without refueling.
The U.S. government said it is investigating after People's Republic of China hackers targeted commercial telecommunications service providers in the U.S.
Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.
Scammers are using increasingly sophisticated ways to lure unsuspecting victims, and some are impersonating an email help desk or support team.
You can unsend or edit your iMessages with the latest iOS updates. Kurt the CyberGuy explains how you can save yourself some potential embarrassment.
Kurt “CyberGuy" Knutsson says there’s been a rise in cybercriminal services using hacked police and government emails to send subpoenas and data requests to U.S. companies.
Kurt “CyberGuy" Knutsson discusses how Axiom Space and luxury designer Prada are collaborating on NASA's Artemis III spacesuit design.
Voice assistants may cause confusion across devices. Tech expert Kurt “CyberGuy" Knutsson offers some solutions to fix it.
Shameless scammers trick veterans into giving personal info or cash. Tech expert Kurt “CyberGuy" Knutsson explores five common scams.
Tech expert Kurt “CyberGuy" Knutsson helps you honor our heroes with these powerful podcasts, audiobooks and documentaries this Veterans Day.

How to Develop a Successful Board of Advisors (...and Why You Should!)

In today's rapidly changing and highly competitive markets, many privately... Read More

Take A Systems View To Ensure Your Business Stays Healthy

How are you feeling today? Good, not so good, great?... Read More

Vendor Relations Strategies Sample Outline

One of the quintessential parts to any business is your... Read More

Writing Your Business Plan is Actually Storytelling

Storytelling and writing a business plan actually go hand in... Read More

The Top Ten Rules of Effective Networking

Many of us are discouraged by the networking events that... Read More

3 Ps of Planning - Prepare, Personalize, Pilot

Here's a really simple way to make sure your plans... Read More

Invalid Excuses for Poor Business Results - Rising costs

Note to Northwest Airlines ? It's not about fuel costsFor... Read More

Content Management: Wise Investment for Business Prosperity

The time when a website was just a simple set... Read More

Defining Go for It Business Goals

Many business start-up kits or consultants will tell you one... Read More

Strategic Planning Fundamentals

Strategic planning is vital while starting a new business or... Read More

During the election we heard about Ohio?s Economy

Much of what we heard in the mass media about... Read More

Do You Really Need a Business Plan?

"I don't need a business plan."Neither did Alice in Wonderland."Would... Read More

Three Easy Ways To Know Thy Competitor

"Did you hear what your competitor is doing?" This question... Read More

Will and Vision

Remember Chux? The disposable diaper that took the market by... Read More

Titanic Precautions

Many movies have been made about the tragic story of... Read More

Regroup - How To Do It And Why It Works

Regroup?is this a new management trend? Not a chance! Regroup... Read More

Getting Started with Succession Planning: Part II

Succession planning requires the owner of a small or medium-sized... Read More

Hunters and Gatherers - Are You Serving Both Their Needs?

The University of Exeter in the United Kingdom recently published... Read More

Breaking the Growth Barriers in the Information Technology and Software Sector

There's nothing automatic about corporate growth, particularly in the information... Read More

How to Achieve E-commerce Success ?You Gotta Plan!

Before becoming a netpreneaur, I was an entrepreneur. First, I... Read More

The Six Sigma Method and Design of Experiments

Six Sigma is becoming a proven approach for businesses and... Read More

Microsoft Great Plains in Aerospace & Defense industries ? implementation & customization highlights

Microsoft Great Plains fits horizontal markets clientele and in case... Read More

Business Plans Keep You On The Success Course

Where would your business be without a proper plan? A... Read More

For Business Owners Only - You Can?t Be Fired But Neither Can You Quit

The decision to sell, or not to sell your business... Read More

Why You Need a Business Planning System NOT a Business Plan

When someone mentions business planning we have been conditioned to... Read More

Antigo wedding limo ..