The business plan
Just random notes 'cause...
Don't know what to include in the plan?
sorted to the top of Google results (ahem?).
Somewhat useful to see it, but it's a little longer than necessary unless you're
tempted to buy it ($97).
- One-line description of company, summarizes what it does, not a paragraph.
- Financial model expected expenses, revenues, etc.
- Risk-mitigating milestones, bumps in the road, expectations for success, including
- find location
- monthly sales expected
- why can eliminate risk
- legal requirements/caveats
- Very important: whay are you uniquely qualified!
There are 6 more questions, but you have to buy this guy's product.
- use business plan software (which are missing the 10 things)
- use sample business plans (which are incorrect, can't answer #4)
- Use GrowThink's Ultimate Business Template
- It's delivered as MS Word
- There is no software to install
- You type answers into document
- You fill in the blank exercises
- The template has #4, you delete the ones that don't apply
- The same for one-line description
- Do the complete financial model in Excel, completes 5-year financials
- Tells where to download market analysis for your product
- Gives the 24 best marketing tactics
- You get 365 days e-mail support for free
What's wrong in the advice out there? Among other things, the suggestion
to multitask? NO!
More stuff (not from GrowThink)
- Prove filling an unmet need in the market?
- How I will acquire and retain customers?
- Better than competition?
- Story behind financial forecasts.
Of course, most of these are pretty much entitled, "How to Write a
Common listed components
- Executive summary
- Company overview
- Business description
- Business offering (product or service)
- Local market and competitive landscape/Competitive analysis
- Marketing plan and analysis/Marketing strategies/Sales, marketing and promotion
- Strategy and implementation/Design and development plan
- Operations and management plan/Management team
- Financial projections/data
- Thinking you don't need a business plan
- Speaking in features
- Writing the plan in a vacuum
- Looking only to the near future