By Tobias Barth at October 27 2018 07:28:39
Impress for Success - Now you have to admit, this is going to make an impressive package! Put it in a binder and you have built something to be proud of - the first of your many business accomplishments. Your potential investors will appreciate the depth of your analysis, but this tool will prove helpful in describing your venture to your employees, customers, and suppliers, as well. After you have been up and running for a few months, you will find that the planning that you have done will sensitize your inner 'business compass' and allow you to flexibly adjust to contingencies. And that is indispensable!
While these are easily available online, some of them are way better than the others. A lot depends on the approach that goes into writing the business plan.
Industry Analysis - How does your product or service compare with what is currently on the market? What is the trend in the overall industry? What have been the total sales in this industry over the previous 3 to 5 years? What new products or technologies have had the biggest impact on this industry recently? What is the future outlook for these and what trends are emerging? Who are the competitors, where are they located, and how are they doing? What advantage do you offer over them? Who is buying this product or service now? Describe the typical customer for this product or service.
Organization - How is the business structured? Who are the principals and the principal shareholders? What authority does each principal have in the venture? What are management's qualifications? What is the job description for each position? What does the organizational chart look like? Possible Data Sources: on-line templates for job descriptions & organizational chart.