This is a summary that can answer the question: what kind or type of business am I in? You must be able to answer this with a one sentence answer that summarizes everything you’ll do. You’ll use this as a tag line when meeting business people as you market your business or as an introductorily statement presented to a lender. Structure
Define your business as a Sole Proprietorship, Partnership, C Corporation, S Corporation or Limited Liability Corporation. To accomplish this will require the skills and expense of a good attorney specializing in small business. Management
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You’ll need bios and resumes on your principal team players, including details of their experience, education, noteworthy achievements and why you’ll think they will be an asset. Employees How many and how will you hire them? What qualifications are you looking for? Will you outsource? What about compensations, benefits, workman’s comp insurance or health plans? Finances & Accounting
In house or subcontracted? Computerized? What software will you need? You’ll need a proforma profit and loss statement with income and profit projections forecasted out three years. What kind of a balance sheet method will you use? You’ll need three-year projections of assets and cash-flow. Will you outsource for expertise in this area? Who can you hire and who can recommend reliable professionals? How much will a qualified CPA cost you a year? What services will he/she provide? Technology
What are your needs? How will you use your equipment and in what aspects of your business? What file databases are you going to maintain? How much power do you need to maintain these? Can you option for online vendors or do you have to install an in-house system,? What about IT? Outsourced or hired? What is you budget for upgrades of equipment and software? Will you be doing graphics and promotional materials design in-house or outsourced? What about spyware, malware and virus protections? More Than An Afterthought
Writing a business plan that is comprehensive will require a lot of work and thought. But once it’s done, you’ll have a tool that can breathe and grow as your business grows.
A successful business plan template will be divided into sections allowing the reader an easy interpretation of what your goals are and how you plan to achieve them. It should include the following: •Cover Sheet. Includes the name of the new business and the principals involved. •Table of Contents. Easily divides the plan into different sections and allows for easy navigating. •Executive Summary and Mission Statement. Introduces the business idea, summarizes the ideas and goals and what you intend to accomplish. •Start-Up Costs and Operations. Lists all the details of the items and costs required to get started as well as the operating costs once the business has opened its doors. This includes all expenses such as rent, supplies, administration, equipment and employees. •Marketing Plan. Your strategy for advertising and other methods of gaining clients. •Revenue Projection. Your financial forecast over a period of several years. •Appendix.