The person who figures out how to harness the collective genius of his or her organization is going to blow the competition away. ~ Walter Wriston
There are typically eight essential components to writing a winning business plan:
1. Executive summary that highlights your compelling vision and mission.
2. Executive or management bios detailing the education, training and background of core management team members, and how these experiences work in synergy to grow the company.
3. Company information - quality products and services that fill a void.
4. Competitive analysis of why you differ from competition, and are superior to them in every way.
5. Pricing strategies - basic charges, seasonal discounts, etc. to realize profits.
6. Marketing strategy - How are you getting out the word—collateral, PR, etc.
7. Operations - job descriptions for product manufacturing, delivery, etc.
8. Financial projections - estimations of cash flow to predict revenues and expenses. Not only for planning purposes, but also for important milestones to show benchmark progress and plus securing lines of credit and loans from the bank.
We’ll discuss them in detail in Part 6. We’ll use a simple guide to accomplish your mission—writing your very own business plan. Writing the plan is actually simple.
As Henry Ford pointed out, it’s the astute thinking involved that makes a difference to outcomes. That is, a constructive action plan is the result of careful thinking
Next Part 5:
Do’s and Don’ts of an Effective Business Plan
"We have been extraordinarily happy with the Business Plan Pro software and more importantly with Palo Alto Software."
Read more reviews
|
