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What Is a Business Plan?
This plan is meant to outline the goals of a business and what needs to be done in order to achieve them. Think of it as a detailed guide that's meant to show all of the strategies and objectives that need to be worked on. Whether you're making a restaurant plan, bakery plan, or even a coffee shop plan, know that its purpose remains the same no matter what type of business it's made for.
How to Make a Business Plan
1. Make the Executive Summary
This is where you provide the reader with a quick summary of your business. You'll want this page to point out what it is exactly your business does, what kind of products/services it has to offer, the progress that you have made and what your plan templates are for its future. You can also use it to share whatever accomplishments you've made so far if you have any. Remember that you shouldn't go into too much detail here.
2. Point Out the Problem and Solution
The best way to introduce your business is by telling the reader the problem you are trying to solve. Doing so is the best way to prove why your idea matters and it can even help explain why people should invest in it. It's best that you gather factual evidence to show the reader that you've done a thorough study on the issue you're trying to resolve.
3. Explain What Your Business Will Offer
This is where you will need to go into more detail regarding the products and/or services your business offers into order to solve the problem. So what you are going to have to do here is to provide detailed descriptions as well as how your products and/or services are supposed to be used by customers.
4. Explain Your Target Market
You'll want to describe who exactly your business is going to be catering to. Your target market analysis should be based on personality type, income level, age, gender, etc. It is very important that you're specific with this as all the strategies and tactics that you'll formulate will be catered towards attracting them.
5. Share Your Business Model
It is here where you will need to explain how your business is going to work. How is it going to make money? How are your products going to be made or how are your services going to be provided? How will you go about in marketing your brand? What are your day-to-day operations? These are questions that this section of your business plan should be able to answer in the most detailed way possible.
6. Explain Your Organizational Structure
You want the reader to know exactly what roles people in your company play and how important they are. Provide an in-depth display on who the shareholders are, the managers in charge of operations, those who will be in Human Resources, etc.
7. Show Your Financial Plan
Here is where you will have to provide a breakdown of your business's profit and expense sheet. If you already have an established business, then you'll want to cover at least 1 to 3 year's worth of your financial history along with the projections on the following year. If you're just starting with a new business, then you'll need to cover all profit and expense projections within at least the next 2 to 3 years.
