A business plan is an essential roadmap for business success. This living document generally projects 3 to 5 years ahead and outlines the route a company intends to take to grow revenues.
Your executive summary is a snapshot of your business plan as a whole and touches on your company profile and goals.
Read these tips about what to include:
Your company description provides information on what you do, what differentiates your business from others and the markets your business serves.
Before launching your business, it is essential for you to research your business industry, market and competitors.
Organisation and management
Every business is structured differently. Find out the best organisation and management structure for your business.
Service or Product line
What do you sell? How does it benefit your customers? What Is the product lifecycle? Get tips on how to tell the story about your product or service.
Marketing and sales
How do you plan to market your business? What is your sales strategy?
If you are seeking funding for your business, find out about the necessary information you should include in your plan.
If you need funding, providing financial projections to back up your request is critical. Research on what information you need to include in your financial projections for your small business.
An appendix is optional, but a useful place to include information such as resumes, permits and leases.
Author: Refiloe Nthama