Designing A Perfectly Executed Business Plan - 932 Words

You have to crawl before you can walk. Think of your business plan as that essential stage prior to taking your first step. A perfectly executed business plan provides your business a solid foundation and without it you’re likely to fall flat on your face. That’s the bad news. The good news, the BEST news is that once you have created it, it becomes an invaluable guide to every aspect of your business. While it’s true that trying to secure funding through traditional loans, grants, private placement offerings, or venture capitalists makes having a business plan an absolute necessity, it shouldn’t be viewed as just another tedious task to check off your list. In reality and according to the SBA website, â€Å" a properly executed business plan†¦show more content†¦This section articulates what your company is, what purpose it serves, where it is now, where you are going, and why (in your opinion) you are going to be successful. This section is al so your opportunity to grab the interest of potential investors so the narrative needs to be engaging enough for them to want to read on. While this should be the first section of your business plan, most experts agree it should be written last. Why? Because its purpose is to highlight the key components of your entire plan. What are those key components? At the very least it should include: Your mission statement, company information (the founders and their roles, number of employees, business location), growth highlights, a basic description of your products and services, financial information, and a projection of future plans. Much of this information will likely need to be updated regularly as your company grows and changes and possibly even before you complete the writing of your plan. Keep it tight, concise and accurate. 2. Company Description: This is a review of your company at a much higher level so be certain to hit all the various elements of your business to help investors grasp the goal and concept of what you are trying to achieve quickly. Make sure to include your demographic, competition, and your value proposition. 3. Products And Services: Sell, sell, sell! This is the section where you sell not only your business concept but also yourself, and your team