How Detailed Should
Your Plan Be?
Your Plan Be?
Business
plans differ widely in their length, appearance, content, and the emphasis
placed on different aspects of the business.
Depending
on your business and your intended use, you may need a very different type of
Business Plan:
–Mini-plan: Less
emphasis on critical details. Used to test your assumptions, concept, and
measure the interest of potential investors.
–Working Plan: Almost
total emphasis on details. Used continuously to review business operations and
progress.
–Presentation Plan: Emphasis
on marketability of the business concept. Used to give information about the
business to bankers, venture capitalists, and other external resources.
Assembling a Business Plan
Every
Business Plan should include some essential components:
–Overview of the Business:
Describes the business, including its products and services.
–The Marketing Plan:
Describes the target market for your product and explains how you will reach
that market.
–The Financial Management Plan:
Details the costs associated with operating your business and explains how you
will pay for those costs, including the amount of financing you may need.
–The Operations and Management Plan:
Describes how you will manage the core processes of your business, including
use of human resources.
Seven Common Parts of a
Good Business Plan
§Business plans must help investors
understand and gain confidence on how you will meet your customers’ needs.
§Seven common parts of a good Business
Plan are:
1.Executive
Summary
2.Business
Concept
3.Market
Analysis
4.Management
Team
5.Marketing
Plan
6.Financial
Plan
7.Operations
and Management Plan.
Good Business Plan
§Business plans must help investors
understand and gain confidence on how you will meet your customers’ needs.
§Seven common parts of a good Business
Plan are:
1.Executive
Summary
2.Business
Concept
3.Market
Analysis
4.Management
Team
5.Marketing
Plan
6.Financial
Plan
7.Operations
and Management Plan.