Successful business plan outline

Every business needs to have a written business plan. Although there is a fairly well accepted structure for a business plan format, there are many ways of putting it down on paper. Start your Executive Summary with a brief and concise explanation of what your company does.

This is important regardless of whether you have previous experience in that particular industry. And, when you follow the outline below, you ensure your business plan is in the format that prompts investors and lenders to take action. Likewise, feel free to use my proven business plan template to complete your business plan.

Read everything you can about your industry and talk to your audience. Because of this expectation, investors want to know everything about your business.

If so, detail the types of firms that might be interested in purchasing you and why.

startup business plan template

For example, if you operate an Italian restaurant, other Italian restaurants would be direct competitors. For example, do customers care most about speed, quality, location, reliability, comfort, price, value, etc.?

Free sample business plan

Do you sell by-products, like data? Section V - Competitive Analysis Your Competitive Analysis section has three sub-sections as follows: 7 - Direct Competitors Direct competitors are companies that fill the same customer need you fill with the same solution. But, how do you write a business plan? This is important regardless of whether you have previous experience in that particular industry. More from Entrepreneur Corene Summers helps clients advancing their health, careers and lives overall through reducing stress, tension and optimizing sleep. Every business needs to have a written business plan. Specifically, include your expected revenues, expenses and profits for each of the next five years, how much funding you are seeking, and the key uses of these funds. If you know these interests up-front, you can be sure to take them into account when preparing a plan for that particular audience. Having your profile in place makes this step a whole lot easier to compose.

Explain why you care.

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How to Write a Business Plan for a Small Business: 14 Steps