Simple Business Plans Format

25 Jun

Starting a new business or aiming for an expansion entails a good deal of planning. It involves valuable resources that should not be wasted should the venture fail. Good business planning aids any business owner as it helps to maximize resources as it prevents mistakes. Any prospective business owner will gain from a thorough business plan as well as the owner who plans to expand soon.

The simple business plans format below should guide you through the process of planning your business. It also serves as a checklist to ensure you cover everything in the business aspect for successful planning and implementation.

  1. 1.       Executive Summary

Every business plan starts with an executive summary. While this section is the last thing you write, it is the first thing that any investor, lender or partner will read. The executive summary highlights the very important points in your overall business plan in about one or two pages, so make every word count.

  1. 2.       Market Analysis

Your market analysis consists of the information you have gathered about your specific industry, your target market and the competition in the market. This portion indicates the strengths and weaknesses of your business and your strategy to overcome the barriers.

  1. 3.       Company Description

If you are a start-up company, this section should indicate your company’s background as well as your goals for starting this type of business. Existing businesses should include their mission statement as well as some of the company’s achievements in the industry.

  1. 4.       Organization and Management

A business’ organization and management structure is crucial to its success. The business plan should include your management strategy according to the type of ownership. A complete and sufficient organizational structure should address necessary positions and departments that need competent management. When your goal is to acquire additional funding, you must present that the business will be handled by people who are capable of managing it.

  1. 5.       Marketing and Sales Management

Your product or service is the most important element in your business. It is the source of income in the business and thus, a good marketing and sales plan is essential. You must develop a strategy for your product or service to reach your target market. Distribution channels, advertising and handling sales should be included in your overall market strategy.

  1. 6.       Service or Product Line

In your business plan, your product or service takes center stage. Specific and important details about what you are selling are crucial in your plan. Discuss how your product can benefit the target market in addressing their needs. Your product description should also include the product’s life cycle, significant components and its competitive edge.

  1. 7.       Funding Request

Whether you need funding or not, this aspect will cover the amount you require to start or expand the business. A detailed funding request should help you determine how much you need to proceed with your plans.

  1. 8.       Financial Projections

After thorough analysis of the market and your product as well as set clear goals, you will be able to prepare financial projections. Significant historical data should be considered, particularly for existing businesses. Start-ups can make financial projections according to practical market analysis. In your business plan, it is essential to make projected financial statements, such as income statements, balance sheets, cash flow statements and financial ratios for up to five years.

  1. 9.       Appendix

This section is optional and could be used when including important documents, such as permits, leases and other useful documents.

By using this simple business plans format, you can prepare an effective business plan to suit any type of business.


One Response to “Simple Business Plans Format”

  1. click 2012/06/25 at 1:36 pm #

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