Business Plan | The Biz Knows

Business Plan

A business plan can be viewed as the blue print for any business and is an important part of the initial steps that lead towards starting a business. For non-profits, the business plan is tremendously significant because it will be used to obtain funding. For profits organizations may also use the business plan to seek funding, but regardless should create one as well. Even if no one else will to see the business plan, going through the process of creating one is a good exercise to put all of the details on paper. There are also several factors that you may not even think about until working on the actual business plan. Most successful businesses don’t just happen. Owners take time to research and plan, before executing. Your business dream can come true, but you risk the chance of failure without adequate preparedness. Write the vision!

Creating a business plan can be a lengthy process, in most cases spanning several weeks. But you want to do it right, meaning take necessary time to consider all aspects of your business from the business structure to the financial plan and everything in-between. See below for a general outline:

Executive Summary – Write this section last. In two pages or less highlight details contained in the rest of the business plan. Also if applying for a business loan, this is where you include the desired amount of funding, how it will be used to make the business more profitable. Thus indicating that you’ll be able to pay it back.

Company Description – Provide general information about the business, such as what the business will do, the mission statement, goals and objectives, to whom you will market (briefly since there is a marketing section), and identify the industry. Also describe the company’s most essential strengths and core competencies. Finally indicate the business structure and why it was selected.

1 2 Next>

Our company is your #1 source for growing your business. We provide knowledge and support for current as well as aspiring entrepreneurs. One of our primary goals is to help you reach yours.