simple business planning

8/9/2019 Simple Business Planning

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Simple Business PlanningBy Scott Christ, eHow Contributor

Business plans can help you accomplish

your fnancial goals

Planning is an essential part of any business. According to Entrepreneur Magazine, there are

three important parts of business planning: a business concept, understanding your

marketplace and communicating your financial information. Also, a typical simple business

plan runs 15 to ! pages, but comple" business plans can get up to 1!! pages in in length. #ocreate a simple business plan, organize your content into se$en key components.

1. Executive Summary

o #he e"ecuti$e summary of a business plan communicates %hat you hope to

accomplish %ith your business. &eep it short and simple '' a half page or less,

says Entrepreneur Magazine.

Business Description

o Another part of simple business planning is the business description, %hich is a

high'le$el look at ho% all of the different elements of your business fit

together. (escribe your business in detail and include factors that %ill make

your business successful. )ommunicate your business structure, such as

%holesale, retail, food ser$ice, manufacturing or ser$ice oriented.

o *ponsored +inks

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(o%nload hitepaper - *ee o% )/0s deployed nified

)ommunications.

polycom"realpresence.com

#ar$et Strategies

o #he first part of the market strategies section of a simple business plan should

pro$ide some basic research about your market. 2or e"ample, include the size,

structure, gro%th prospects, trends and sales potential of your marketplace.

(escribe your market share pro3ections, your positioning in the market, and

ho% you %ill price, distribute and promote your products and ser$ices.

Competitive %nalysis

o /n the competiti$e analysis phase of business planning, identify yourcompetitors and their product and ser$ice offerings4 competitor market

segments4 strengths and %eaknesses4 and any barriers that may hinder you

from entering the market. *tate each of your competitors ad$antages in the

market and include their contact information, such as address, phone number

and %ebsite 6+.

Design an& Development lan

o #he design and de$elopment planning phase includes product de$elopment,

market de$elopment and organizational de$elopment. A simple %ay toaccomplish this phase of your business plan is to de$elop a set of procedural

tasks for each area of the de$elopment plan. 2or e"ample, to de$elop a ne%

food product for your restaurant, you %ould follo% procedures, such as

consulting %ith your chef, gathering ingredients, determining the optimal

cooking method, testing the recipe, adding any additional ingredients and re'

testing.

'perations an& #anagement lan

o According to, the .*. *mall 7usiness Administration, a simple but effecti$e%ay to organize the operations and management structure of your company is

to create an organizational chart %ith a narrati$e description. #his section

should also include background information about your business o%ners and

key management personnel and strategies for hiring, training and retaining

employees.

(inancial lan

o #he financial plan is one of the most difficult stages of business planning. #o

keep it simple, Entrepreneur Magazine says to include a fe% basic financial
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statements, including a cash flo% statement, an income statement and a balance

sheet.

!ea& more) Simple Business lanning * eHow.com

http)++www.ehow.com+ino-1/012-simple"business"

planning.html3ix442%5pD26r

What Questions Will Be Asked When Showing Investors

My Business Plan?By #arty %7uino, eHow Contributor

8here9s no such thing as a &umb 7uestion, but

there are wrong answers.

Presenting your business plan to prospecti$e in$estors can be ner$e'racking, but not being

ready for their 8uestions can be crippling. /n$estors routinely %ant to kno% %hat the dri$er

for demand is and ho% big it is. /n addition, your e"ecuti$e team is a key factor and

sometimes e$en more important than the business idea. /n$estors %ant to kno% the challenges

you face, and most re8uire a detailed e"planation of ho% they %ill get their money back.

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9/20

*ample 7usiness Plan kimptonconsulting.complans

*tart your company right +et us make your business plan.

6ead more:o% to ;et A 2ree 7usiness Plan 2or our 9e% 7usiness C eo%.comhttp:%%%.eho%.comho%DGJJ!JDbusiness'plan'ne%'business.htmlHi"zzIAPKcm2t


o rite this last. /t summarizes e$erything in the business plan and is often the

first thing a prospecti$e in$estor or loan officer %ill look at. Make it

impressi$e, optimistic and realistic.

Mission Statement and Company Description

o A mission statement sums up thecompanys ob3ecti$es in one to three

sentences. A company description is a lengthier document that outlines the

history and future of the company, usually no more than t%o pages.

o *ponsored +inks

ant to *tudy AbroadB

*tudy at Monash ' A +eading Australian ni$ersity. En8uire 9o%>

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Description of Products and Services

o (escribe the products you sell or your ser$ices. +ist your suppliers and your

criteria for selecting the in$entory you keep. if youre a ser$ice business,

describe the ser$ices you offer.

Marketing

o (etail your marketing plan. ou must kno% your target market, your

competition and ho% your business %ill stand out.

Operations & Management

o (escribe in detail ho% the business %ill be operated. /nclude a chart of

responsibilities, and include the resume or history of key players.

inancia! Statements
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10/20

o /nclude your personal financial statement. /n$estors and loan officers %ill %ant

to see that you find the pro3ect %orthy enough to put your Lmoney %here your

mouth isL and that youre a person of means, %ho stands something to lose if

the business should fail.

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C!ear!y Define t"e #usiness

o *ome businesses do not succeed because they do not clearly define %hat their

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o Another important reason to ha$e a business plan is to make sure that this is

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successful, does not mean that this is the best one for you to start. 9ot only do

you need a background in the product or ser$ice, but you should ha$e an

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$ig"t for t"e Market

o #he marketplace is continually changing. *omething that %as a big fad a

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to be made in order to make your offering more desirable.

P!an for C"ange

o 6emember that your business plan is critical to start your $enture. /t is also

important to keep your business going strong. our plan should be fle"ible

enough that you can make changes as you go. ou need to re$isit your business

plan at least annually, if not e$ery si" months, %hen you are starting out. ou

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o #he e"ecuti$e summary pro$ides a brief summary of %hat %ill be sho%n in the

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should pro$ide direction as to %here to find certain aspects %ithin the plan.

#he e"ecuti$e summary should include a brief introduction and must include
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least t%o full pages of information for this section. o%e$er, the more

carefully thought out your information and research, the more information you

%ill be able to pro$ide in the business plan.

6ead more:o% +ong *hould a 7usiness Plan 7eB C eo%.comhttp:%%%.eho%.com%ayD51FFF11Dlong'should'business'plan.htmlHi"zzIAK8K1

Instructions

1.

o 1

(etermine %hat kind of business, or category, you %ill be planning to start.

#here are many genres and types of businesses, a lot of %hich are profitable, soin order to find the right free sample business plans, youll ha$e to determine

%hat kind of business you are in. #his %ill make your business plan search

much easier.

*ome of the more common categories are:

Airline and A$iation

7ar and 9ightclub

7eauty *alon and (ay *pa

7ed and 7reakfast and otel

)ar ash and Automoti$e )offee *hop and /nternet )afe

)omputer )onsulting, 6epair, and 6eseller

)onstruction and Engineering

)onsulting

(ay )are *er$ices and )hildrens Products

Education and #raining

2arm and 2ood Production

2itness )enter, ;olf )ourse, and *ports

ome 7usiness

Magazine Publishing and Media )ommunications

Manufacturing Medical and ealth )are

9onprofit

Personal *er$ices

Pet *er$ices and Products

Product (e$elopment

Professional *er$ices

6eal Estate

6ecycling and aste Management

6estaurant )afe and 7akery

6etail and 0nline *tore

edding and E$ent Planning

holesale and (istributor
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14/20

o

?isit the multitude of %ebsites a$ailable that %ill gi$e you access to free

sample business plans for your type of business. #here is a list of resources

belo%, all of %hich do not re8uire any type of payment in order to $ie% the

free sample business plans.

o *ponsored +inks

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nderstand the )hinese Market %ith /9*EA( E"ecuti$e Programs

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o @

Print out the free sample business plans for your category, e$en if the business

itself mentioned in the sample business plan isnt e"actly the same as yours.

ou %ant as many as you can so you can learn %hat %orks and %hat doesnt

%ork for each, so you can compile the best features from each into your o%n.

o

se a highlighter to highlight certain key points that you like or things that

seem to be mentioned in each of the free sample business plans. #his %illdefinitely gi$e you an idea of e"actly should be included in each business plan,

and %hat is 3ust an add on for that particular company.

o 5

0rganize the free sample business plans that you like into a binder %ith clear

sheets. &eep the ones you like best in the front of the binder so you can easily

access them %hen needed.

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15/20

*mall 7usiness *oft%are %%%.turtlesoft.com

;oldenseal' accounting, small business management and more>

6ead more:o% to 2ind 2ree *ample 7usiness Plans 0nline C eo%.comhttp:%%%.eho%.comho%D5!F@GDsample'business'plans'online.htmlHi"zzIA677kha

#ow to Improve $our Business PlanBy Charles Crawor&, eHow Contributor

%s your business evolves,

your business plan can be up&ate& an& improve&.

#he business plan is for planning. E$en though you may use it for raising funds, forging

relationships %ith other companies and sometimes for e"ecuti$e recruiting, its main purpose

should be to aid in your ongoing planning. hen you conduct performance re$ie%s of your

business, you %ill see %here you can impro$e parts of your operation. hen that happens,

update the corresponding part of your business plan. #reat your business plan as a key

planning tool '' use it often '' and it %ill ser$e you %ell for years to come.

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