After gathering all the information in the previous steps you need to put it all down in the form of a clearly understandable business plan.
It is always good to write two business plans, a detailed one for your self and a less detailed one for any one else who wishes to review your business plan and does not need to know all the minor details about how the business shall be run.
A. Business Description
4. Market and competition
5. Management experience
B. Business definition goals and objectives
C. Summary of financial needs and application of funds
II. Market Analysis
A. Description of total market
B. Industry trends
C. Target Market
III. Products or Services
A. Description of product line
B. Proprietary position: patents, copyrights and legal issues.
C. Comparison to competitors products, operations etc.
IV. Manufacturing Processes (If Applicable)
B. Source of supply
C. Production methods
V. Marketing strategy
A. Overall strategy
B. Pricing policy
C. Method of selling, distributing, and servicing products
VI. Management Plan
A. Form of business organization
B. Board of directors composition
C. Officers: organization chart and responsibilities
D. Resumes of key personal
E. Staffing plan/number of employees
F. Operating plan for the next one or two years
VII. Other Pertinent Information, Plans
Once your business plan is ready, you will want to go though it step by step and revise it. Once this is done, you may submit the business plan to investors to obtain the capital that is required for setting up the business.
During the startup process, you will have to review and revise the plan again and again. Once your business is setup, your business objectives and other such specific details will change from time to time. Change the business plan to accommodate for these changes.
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