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A business plan is a written document that gives details of the new venture. It is the entrepreneurs roadmap for a successful enterprise. It must describe the current status, expected needs and projected results of the new business. It must demonstrate a clear picture of what the venture is, where it is projected to go, and how the entrepreneur proposes to get there. Every aspect of the venture needs to be covered, project, marketing, research & development, manufacturing, management, critical risks, financing and milestones (timetable).
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The Cover Page and Title Page: Cover Page: It should have the name of the company,
address and phone number, month and year when plan is issued.
Title Page: Inside the front cover page is the title page. Here the information is repeated along with the legend copy number. *less than 20 is best+ The Executive Summary: Should immediately follow the title page, should be of two to three pages. It should contain information like, companys current status, its products or services, benefits to customers,
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the financial forecasts, ventures objectives in three to
seven years, financing needed, and how investors will benefit. This section will either generate interest or it will make them forget the entire thing.
The Table of Contents: This comes after the executive summary, It should be well designed. List each of the business plan sections and mark the pages for each section.
Organize and package the plan appropriately Orient the plan to the Future Avoid Exaggeration Highlight critical risks
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Give evidence of an effective
entrepreneurial team Do not over diversify Identify the target market Keep the plan written in third person Capture the readers interest
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Know the outline thoroughly Use key words in the outline to recall examples, visual aids, etc Rehearse the presentation to get a feel of its length. Be familiar with the equipment used for presentation OHP, slide projector, VCR etc The day before Practice the complete presentation using visual aids and equipment On the day Arrive early to setup and test equipment. Organise notes and visual aids.
Section III: Marketing A. Research and Analysis 1. Target Market(Customers) identified 2. Market size and Trends 3. Competition 4. Estimated market share B. Marketing Plan 1. Market strategy-Sales and Distribution 2. Pricing 3. Advertising and Promotions
Section IV: Operations A. Identify location 1. Advantages 2. Zoning 3. Taxes B. Proximity to Supplies C. Access to transportation
Section V: Management A. Management team- Key personnel B. Legal structure- stock agreements, employment agreements, ownership. C. Board of directors, advisors, consultants.
Section VI: Financial A. Financial forecast 1. Profit and Loss 2. Cash flow 3. Break-even analysis 4. Cost Controls 5. Budgeting Plans
Section VII: Critical Risks A. Potential problems B. Obstacles and risks C. Alternative courses of action
Section VIII: Harvest Strategy A. Transfer of asset B. Continuity of business strategy C. Identify successor
Section IX: Milestone Schedule A. Timing and objectives B. Deadlines and milestones C. Relationship of events Section X: Appendix or Bibliography
I. Executive Summary
Not more than three pages. What, how, where, etc must be covered. Complete this section after finishing the business plan. To be presented very well, else rejection chance.
V. Management Segment
Supply the resumes of all key people in the management of your venture. Describe the legal structure of your venture. (sole proprietorship, partnership, corporation). Cover the added assistance(if any) of advisors, consultants, directors. Give information of how and how much everyone is to be compensated.
X. Appendix or Bibliography