How to Plan your Business

How to Plan your business why you need a business plan and you've used up some time doing your grounding assemble the information you need to create one, it's time to roll up your sleeves and get the whole thing down on paper. The following pages will describe in detail the essential sections of a business plan: what you should include, what you shouldn't include, how to work the numbers and additional resources you can turn to for help. With that in mind, jump right in.

Executive Summery

Within the general outline of the business plan, the executive summary will follow the title page.

The summary should tell the person who reads what you want. This is very important. All too often, what the business owner desires is buried on page eight. Clearly state what you're asking for in the summary.

Business Description

The business explanation usually begins with a short description of the industry. When describing the industry, discuss the present outlook as well as future potential. You should also provide information on all the various markets within the industry, including any new products or developments that will benefit or adversely affect your business.

Before Writing Your Plan

How Long Should Your Plan Be? When Should You Write It?, Who Needs A Business Plan?, Why Should You Write A Business Plan?, Determine Your Goals and Objectives, Outline Your Financing Needs, Plan What You'll Do With Your Plan, Don't Forget About Marketing

Script Your Business Plan and Tools

How To Write A Business Plan, The Ingredients of Marketing Plan, Updating Your Business Plan and Enhancing Your Business Plan. Business Plan Software, Books and How-to Manuals, Business Plan Templates and Sample Business Plans

Marketplace Strategies

Marketplace strategies are the result of a thorough market analysis. A market analysis forces the entrepreneur to become familiar with all aspects of the market so that the target market can be defined and the company can be positioned in order to garner its share of sales.

Spirited Analysis

The reason of the competitive analysis is to determine the strengths and weaknesses of the competitors within your market, strategies that will provide you with a distinct advantage, the barriers that can be developed in order to prevent competition from entering your market, and any weaknesses that can be exploited within the product development cycle.

Design & Development Plan

The reason of the design and development plan section is to provide investors with a description of the product's design, chart its development within the context of production, marketing and the company itself, and create a development budget that will enable the company to reach its goals.

Operations & organization Plan

The operations and organization plan is designed to describe just how the business functions on a continuing basis. The operations plan will highlight the logistics of the organization such as the various responsibilities of the management team, the tasks assigned to each division within the company, and capital and expense requirements related to the operations of the business.

Economic Factors

Economic data is always at the back of the business plan, but that doesn't mean it's any less important than up-front material such as the business concept and the management team.