There are a lot of reasons why you would be writing a business plan, and the time to draft one is not when it is requested or needed, such as when applying for a business loan. Work on a business plan now- and use the following guide to write yours:
Executive Summary
The first page of your business plan should be dedicated to an executive summary that includes your mission statement, brief offering description, and some insight into your plans for future growth.
Company Description
Describe your company in detail next. Make sure that you indicate whether you are a sole proprietorship, or if you have partners or are part of a corporation- along with percentages of ownership.
Goals & Objectives
What are your goals? Talk about what you want to achieve, through both short-term objectives and long-term goals.
Your Offerings
Talk about what you offer here. Give details about your services or products in this section, include descriptions as to how your offering works, who benefits from your offering, supply chain information, sales and distribution strategies.
Industry Research
Do some homework regarding your competitors in the market. Touch on what you can do better for the market that you serve; expand on your marketplace and typical consumer, too.
Marketing Plan
What is your marketing plan? How will you convince a prospective buyer to choose your offering? This section of your business plan should include your marketing plan, as well as how you plan to retain your loyal patrons.
Financial Analysis
Break down your financials in this part of the plan. This is where revenues, profit/loss statements, and your cash flow statement belong. Demonstrate and describe money coming in and going out of your business.
Future Projections
This section of the business plan should focus on how you plan to grow and maintain fiscal prosperity in the future. If you are asking to borrow funds, discuss how you plan to repay the lender or what returns investors should see.
Appendices
The appendix is where you supply or list supporting information, resources, and citations, if applicable. You may want to provide copies of identification, financial statements, and licensure in the appendix, too.
A comprehensive business plan is important- especially if you want to approach lenders about funding. Talk to the team at Rustwood Capital to learn more about alternative lending solutions available.
