What’s your plan? (Writing a Business Plan)

Writing a Business Plan is very relevant. This is your forecast of what you should know, do and the possible results of your actions. This is for you to prepare and work for it. Here are few of the sections of a Business Plan.

 

Executive Summary

This is where you should write everything. This is the overall summary of your business plan. Write what you want your readers to know about your plan. It is better to state clearly your goal in your summary.

Business Description

Describe the industry of your business in this section. Talk about the present state and the future opportunities. Discuss different markets in the industry. Mention the factors that will be an advantage or disadvantage to your business.

Market Strategies

Market strategies are the ways on how you will target and inform individuals about your service or product. You have to know who your targets are and how you are going to reach them for possible sales.

Competitive Analysis

Strengths and weaknesses of your competitors are what you need to know in this section. This is to help you in making decisions and strategies. Know their strength and weaknesses and develop an advantage on your side.

Design & Development Plan

This is the description of a service or product, details of the development, incorporating the marketing and the budget needed to achieve the plan.

Operations & Management Plan

This is the regarding the teams behind the company. It consists of their tasks and responsibilities and the budget needed for each team.

Financial Factors

This is the overall computation of everything concerned financially.

 

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