Some Basics to Consider

The business plan will allow you to think out your basics and allow you to build your company daily without hesitation. Weather you are seeking financing, expansion, sales growth, investments there are basic considerations that you need for your future.

Considerations for the Plan

1. Define you needs and goals
1. Develop a strong management plan
2. Develop realistic sales forecasts & projections
3. Understand your market and the competitive advantages
4. Define marketing strategies
5. Develop a competitive pricing structure sales strategies
6. Research your competition
7. Know your ROI
8. Plan for five years
9. Update licensing, certification and insurances
10. Define alliances

Getting into Action

In today’s competitive market it’s important to build new strategies that define your marketing focus. All companies need to develop a Strategic Marketing Plan company, which includes the Internet and sales strategies in your planning. Invest in development of the company with marketing and you will grow. Marketing and planning will strengthen your business plans.
I am a strong believer of organically growing your sales first so you can enhance and expand with new sales. This allows your company to stand on its own two feet. The reason for this is bankers want to see growth and stability before they make a loan or for investors to provide you with equity. You may have a great idea but if you can’t sell it then how good is it to a bank or to an investor.

THE BUSINESS & MARKETING PLAN - BUSINESS PLAN OUTLINE

I am going to start you off with the first part of a plan. Developing a plan is like making a film. You create in ways that match the process best. Take the financials those are going to flow into all areas of your plan. So working with them at the beginning will allow you to drop them in the executive summary, marketing and sales areas with greater ease. The first and most important is understanding your service and product in context to the market. While your management team and leadership is your survival. Defining the team and positioning them is a most critical factor.

Below is an outline for a starting your business plan. Use this model as a guide when developing the business plan for your business. The elements in your plan share a common goal -“SUCCESS FOR THE COMPANY.”

Elements of a Business Plan

1. Cover sheet
2. Table of contents
3. Executive summary (Statement of purpose)
4. Offering memorandum
5. Table of contents

I. The Business
A. Description of business
B. Marketing
C. Competition
D. Operating procedures
E. Management
F. Business insurance

II. Financial Data
A. Loan applications
B. Capital equipment and supply list
C. Balance sheet
D.AR, AP’s, P&L’s
D. Breakeven analysis
E. Pro-forma income projections (profit & loss statements)
- Five-year summary
- Detail by month, first year
- Detail by quarters, second, third, fourth and fifth year
- Assumptions upon which projections were based
F. Pro-forma cash flow
- Follow guidelines for letter E.

III. Supporting Documents
- Tax returns of principals for last three years
- Personal financial statement (all banks have these forms)
- In the case of a franchised business, a copy of franchise contract and all supporting documents provided by the franchisor
- Copy of proposed lease or purchase agreement for building
- Copy of licenses and other legal documents
- Copy of resumes of all principals
- Copies of letters of intent from suppliers, etc.