What Is A Business Plan




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What Is A Business Plan?

 

In 2017 over 774,900 businesses opened their doors to pursue the American dream of wealth and independence. Over 77,800 (almost half) of those businesses, failed. Which ones do you think had both a dream and a plan?

Your Business Plan performs many functions for you and your business. Its first result is that it forces you to organize your dream into a model. In the model it will be easy to determine whether it is possible and practical. Your Plan then becomes your course of action, answering the “What do I do next?” question.

Finally, it evolves as the benchmark to determine how you are succeeding compared to your forecasts and what adjustments must be made to optimize every business opportunity. Many use their Business Plans as their final decision-maker. Without a detailed business plan, your new venture can cost you lost time, wasted talent, disappearing dollars and a block of low self-esteem that you can carry for years.

A Business Plan is

Your greatest business surprise eliminator,
An exercise that causes you to consider all of the aspects of your business,
The management and financial blueprint for start-up and profitable operation,
A framework for communicating your ideas to others that provides the basis for financing your business,
A clear description of the business’s characteristics,
An operational tool that will help you manage your business,
An accurate and concise document through careful study,
A tool to make crucial start-up decisions,
A measure of ongoing progress,
A test of planning assumptions for forecast adjustments,
An explanation of how the business will function in the marketplace,
An explanation of how the business will be financed, and
An outline of how the business will be managed.

And, most importantly, it is the sales pitch that you will use to gain funding, credit, partners and upper-level employees. It is the single document that tells your story to strangers with money.

For even more information on business plans please refer to our Anatomy of a Business Plan, or

Email Us with your questions.

The Anatomy Of A Business Plan
By RyanJlima.com

Index

Part I – Executive Summary
Part II – The Industry And The Company And It’s Products or Services
Part III – Market Research and Analysis
Part IV – Marketing Plan / Design & Development Plans
Part V – Manufacturing and Operations Plan / Management Team
Part VI – Overall Schedule / Critical Risks, Problems and Assumptions
Part VII – The Financial Plan / Proposed Company Offering

Sample Image Templates:

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