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Posts Tagged ‘Market analysis’

If You Must Write A Business Plan

If you must write a business plan, you just can’t move forward without one, keep it simple. Don’t think in traditional terms, just do a simple business plan, something you can refer to as a guide. Here are 8 points to consider if you MUST write a business plan:

  1. Executive Summary – I would write it after you’ve done the next 7 points. Keep it short, one page.
  2. Company Description – Legal establishment, history, start-up strategy, etc.
  3. Product or Service – Describe what you’re selling. Focus on customer benefits.
  4. Market Analysis – You should know your market, customer needs, is there a need, where they are, and how to reach them.
  5. Strategy & Implementation – Be specific. Include management responsibilities with dates and budgets. Make sure you track results.
  6. Internet Strategy – For E-Commerce, include development costs, operations, and sales & marketing plans.
  7. Management Team – Describe the organization, and the key management personnel.
  8. Financial Analysis – Include your projected profit and loss, and cash flow tables.

You could have someone review this plan to ensure it’s a viable business, be sure this person or firm is capable of doing so. Be careful here, you could get stuck trying to make it perfect, don’t, just write as briefly as you can, unless you’re applying for funding, they want all the details.