The Successful Business Plan

The Successful Business Plan-56
Business Description This section explains what your business does.

Business Description This section explains what your business does.It includes your business’s history, mission, organizational structure and strategy for marketing.

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Marketing and Sales Strategy This section details how you will market and sell your product or service.

The marketing strategy includes how you will identify and attract customers; how you will grow your business; how you will distribute your product or service; and how you will communicate with your target market.

Financial Projections This section forecasts the future financial health of your business.

It should include three documents: an income statement projecting how much your company will earn or lose; a cash-flow statement illustrating how much cash your business will need and where that cash will come from; and a balance sheet reflecting how much your business will own versus how much it will owe.

This allows you to update all copies of your business plan — and ensures your information stays in the right hands.

If you plan to give your business plan to private investors, include a private placement disclaimer. Small Business Administration sponsors a website that offers ideas for business plans and other helpful information at gov.

Show how each will help your business achieve its goals.

Product or Service In this section, you should highlight the product(s) or service(s) your business provides and what makes it superior to the competition.

It should also cover administrative issues such as business location, legal structure and personnel, and explain how you will handle accounting, insurance, legal and security matters.

Market Analysis This section describes your industry, the market for your products or services and the competition your business faces.

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