Part Of A Business Plan

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If the goal of your business plan is to get funding, it's wise to make sure that your management plan includes an advisory board as a management resource.

A description of your business's physical location, facilities and equipment, kinds of employees needed, inventory requirements and suppliers, and any other applicable operating details, such as a description of the manufacturing process.

It summarizes the key elements of the entire business plan and is the first thing anyone looking at your business plan reads so it's critical that your executive summary is outstanding.

(Reading this Executive Summary Example will give you a sense of how to put yours together.) An overview of the industry sector that your business will be a part of, including industry trends, major players in the industry, and estimated industry sales.

In this section of the business plan, you need to distinguish your business from the competition, persuading the reader(s) of your plan that your business will be able to compete successfully.

A detailed explanation of your sales strategy, pricing plan, proposed advertising and promotion activities, and product or service's benefits.Generally, in a business plan, you want to "put your best foot forward".So if, for instance, you have a stellar group of people serving on your new business's advisory board, by all means, put that section directly after the Executive Summary.A description of your funding requirements, your detailed financial statements, and a financial statement analysis.This part of the business plan is where you will present the three main financial documents of any business, the balance sheet, the income statement and the cash flow statement.(In the case of a new business, this last document will be a cash flow projection.) The instructions on writing the Financial Plan section will show you how to prepare all of these documents.In addition to the sections outlined above, at the end of your business plan you will also want to include any additional information that will help establish the credibility of your business idea, such as marketing studies, photographs of your product, and/or contracts or other legal agreements pertinent to your business. The Executive Summary, being an overview, needs to come first.Beyond that, it's logical to have all the material relating to markets (the Industry Overview, the Marketing Analysis, the Competitive Analysis and the Marketing Plan) together.However, there's no reason why the Management Plan section couldn't directly follow the Executive Summary, for instance, if you want to play with the order.You want every aspect of your business plan to impress (especially if you're using it to ask for money).A business plan is a written description of your business's future.