Probably the most important element in starting your business is developing and completing a "Business Plan". There are critical reasons for creating a business plan. First, a business plan aids the entrepreneur in evaluating the potential for success while also focusing on the business issues that should be addressed in the new business. Second, your plan gives day-to-day direction on how to operate you business. In addition, it is an aid for obtaining financing if needed.
A variety of business plan templates and outlines of varying degrees of complexity are available from many sources. In addition, there are a variety of business plan software packages available. Please remember every business is unique and every business plan is different. We suggest that you utilize the following outline developed by our Chapter as a guide to create your individual plan. Our SCORE counselors can advise and help you in developing your individualized plan. If you'd like to use a more Complex plan we have such a plan on this web site. We also have developed spreadsheets that are part of Excel files that you may want to download and use for financial planning (income statement, cash flow [one file has formulas to do calculations] and funding requirements) for your new business. Simply click on the files and save them to your hard drive.
SCORE CHAPTER 390
BUSINESS PLAN OUTLINE
1.0 TITLE PAGE
2.0 TABLE OF CONTENTS
3.0 PURPOSE OF PLAN
-Describe what you expect to achieve with the plan
-What do you want the reader to understand by reading the plan?
4.0 COMPANY DESCRIPTION
-Name, location
-Type of business and legal structure
-Uniqueness
5.0 EXECUTIVE SUMMARY (Write after completing remainder of Business Plan)
-Describe your company
-Who is the management?
-What is the management's strengths and experience?
-What are the company's objectives?
-Why will the company be successful?
-Is outside financing necessary? If so, for what purposes and how much is needed?
-Have you utilized professionals such as an accountant, lawyer or counselors such as SCORE?
6.0 MISSION STATEMENT
-Describe your company's goals and objectives
-Describe how you want the world to see your business
7.0 PRODUCTS/SERVICES
-What products and/or services will you provide your customers?
-How will your product and/or services benefit the customer?
-What is the demand for your products and/or services?
-What is different/unique about you product and/or services?
8.0 MARKETING PLAN
8.1 Market Analysis
-Who will you target as your markets and customers?
-What is the demand for your products and/or services?
-Are markets growing, remaining steady or declining?
-Identify market and industry trends that will affect the sale of your products and/or services
-Who are the your major competitors?
-How are their businesses performing: increasing, remaining constant, or declining?
-What are your competitors' strengths and weaknesses?
-What have you learned from your competitors' advertising?
-How do your products and/or services differ from the competition?
8.2 Marketing Strategy
-How will you sell and distribute your product and/or services?
-How will you determine the price of your products and/or services?
-How will you advertise your products and/or services?
9.0 OPERATIONS
-Who will operate the business?
-What employees are required?
-What are the logistical plans and requirements for the design, inventory, delivery and follow-up for the products and/or services?
10.0 FINANCIAL DATA
-Show the funding requirements
-Provide a cash flow plan
-Provide a personal financial statement for the owner
-Provide an Owner's Credit Report
11.0 SUPPORTING DOCUMENTS
Include any supporting documents relating to the new business that aid the reader to understand and have confidence in the potential of the business.
4/8/03
Webmaster Bill CrabbsLast Modified Sept. 9, 2007