Related Tag Articles: executive summary

A Guide to Writing a Business Plan: Part 2

19 February 2009

Aspects to Include in the Business Plan

Obviously, every business is a bit different, thus every business plan will be different. However, there are certain aspects that do not change with business plans - certain steps that remain the same no matter what “type” of business you’re starting.

The first set-in-stone standard of a business plan is the “Executive Summary.” In this section, you will briefly illustrate what your plan entails in no more than two pages. This is the “jump of the page” part of the business plan that most investors find either the selling point of the turning away aspect of your plan.

There are four essential sections in the executive summary that investors are looking for:

1. What makes your business idea unique and original and gives you a leg up over similar businesses.
2. What level of experience do you and your team/staff bring to the table? Also, what sort of dealings have you had with your target audience, and how do you expect to make your business succeed.
3. Have you illustrated how your business will do financially, and will or won’t your business be viable for investors involved.
4. When and how will investors receive repayment, and/or when can the investor exit with a nice return on their initial investment.

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What are the Basics of Creating a Business Plan

28 October 2008

The idea of creating a business plan can be overwhelming. Sure, you want to create that business. You have daydreams of being your own boss, spending more time with your family - living the dream. But, then again, you don’t want any of the hassle that goes with it.

Building and employing a proper business plan from the start may be a bit tricky, but it’s also the only way to ensure that your business will run a little more smoothly from conception to birth. Just remember, the worst thing you can ever do is created a halfhearted business plan. A business plan isn’t napkin fodder, nor is it something that can be accomplished with 2 sheets of paper. A proper business plan will help your business to grow. Otherwise, it will surely sink.

Start off by reminding yourself that your business plan is for you. The purpose of the business plan is to lay out a solid plan to ensure a successful start, and then properly manage and ultimately expand your company. This will force you to think thoroughly and invest in things like market research, strategy planning, operation details, financial planning, and marketing plans.

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