This is where you bring the vision of having your own business to life. Each section of a business plan interacts with the other sections.
Conclusion Now that you've invested dozens of hours doing research, compiling data, organizing your information and writing it down, it's time to consider how to present your plan to prospective lenders or investors. But first, you may want to take some time to clear your mind.
Let the plan sit for a few days, then review it with fresh eyes. Better yet, hire a business plan consultant to give you a different perspective and offer suggestions for improvement.
The Written Business Plan Presentation Once you've put together all of this key information, make sure to present your plan professionally. The importance of your plan's appearance can't be understated: It's your business's first impression.
If your plan looks sloppy, readers may assume that the information it contains is inaccurate and not well-thought-out and that your business is run carelessly.
Introductory Letter Include a cover letter to introduce yourself and your plan. A Title Page and Table of Contents will show that you are professional and organized and will help the reader to locate key information within your plan.
Include subsections in your table of contents so that, for example, the reader can easily locate your Income Statement instead of having to thumb through the entire financial plan section to find it.
Organization Nothing says you have to lay out your plan exactly as described in this tutorial. While it is important to include all the information we've discussed, you may find, for example, that even though marketing and sales are closely intertwined, you have enough to say about each subject that you would rather present them in separate sections.
There is also flexibility in the order in which you present your plan, outside of putting the Title Page, Table of Contents and Executive Summary at the beginning, in that order, and the Appendix at the very end. Present your information in a logical order, but be aware that financiers are likely to skip around and read the information in the order that best suits their purposes rather than reading the plan from cover to cover.
Professional Editing One professional you should consider hiring to help finalize your plan is an editor, who will see mistakes that you don't, point out sentences that are unclear and notice sections that are disorganized. An editor will make sure that the tone of your business plan is appropriate — formal, but easy to understand.
He or she will also make sure there are no spelling or grammar errors. Overall, a professional editor will make the plan more readable and make sure your message is presented clearly and concisely.
Concise doesn't mean that you have to leave out important details to save space, but that you present all the necessary information in the most efficient way possible.
Design Your plan must have a formal layout with consistent formatting. It should use visual aids where appropriate, but any graphics you include must be relevant and professional — think charts, graphs and tables presenting pertinent data, and photos of your actual business, not stock photos.
Hire a professional graphic designer to give your plan a polished look: The Appendix Including an appendix section in your business plan allows you to supplement the information provided in the main sections. Since you don't want your main sections to be too long or too detailed, the Appendix is where you should include supporting documents that provide additional details that potential lenders and investors will want to see if they decide that your plan has merit.
For example, while you should have provided descriptions of your professional background and the professional backgrounds of your management team and key employees in the main document, you should save full resumes for the Appendix.
Your appendix could also include letters of reference from individuals familiar with your business performance, such as former bosses and high-level co-workers; additional details from your market research; legal documents such as your business license, articles of incorporation, and the lease or purchase agreement for the building you will operate out of, and more.
You might also need the most recent two to three years of tax returns for each owner if your business is new, or the returns for your business if it is already established. Because of the sensitive data that tax returns contain, you should find out if they are required before you include them.
If they are, thoroughly block out Social Security and business tax ID numbers. Finally, anything else you think is important enough to be part of the business plan but too cumbersome to include in the main document can go in the appendix.
The Oral Business Plan Presentation If you have excelled in putting together your written business plan, you will have a chance to make your case on the phone, by video conference or in person.
You must be thoroughly prepared to make a positive and lasting personal impression and a strong argument for your business.Feb 21, · As with most things in the business world, the size and scope of your business plan depend on your specific goals. If you’re drafting it for investors, you should make the plan more detailed.
This business plan template for PowerPoint packs has a number of professional PPT slides, graphs, charts, tables, diagrams, so you can perfectly present your new business idea. Use this great presentation deck to showcase how your new product or service is positioned for success.
Components of business plan 1. 13 JUN 1 Componentsof Business Plan 2. Business Plan 2 3.
The Oral Business Plan Presentation. If you have excelled in putting together your written business plan, you will have a chance to make your case on the phone, by video conference or in person. What are the main four parts of a successful presentation? Learn how to wow your audience with these tips. Menu. 12 Tips for Delivering a Knockout Business Presentation. Learn How to Plan and Practice for a Successful Presentation. Benefits of a Business Plan for Small Businesses. Before diving into the components of our small business plan template, let's first discuss the benefits of having a solid strategy for your small business. Market Understanding. Part of preparing a business plan is market analysis.
Executive Summary This should cover the foundation of the company, including the – market served, – business structure, – main business objectives, and – advantages over the comp.
Southeast Racing auto parts store business plan strategy and implementation summary. Southeast Racing Parts is a start-up company which provides entry-level oval track racers with affordable products and quality service.4/5(29). Benefits of a Business Plan for Small Businesses.
Before diving into the components of our small business plan template, let's first discuss the benefits of having a solid strategy for your small business.
Market Understanding. Part of preparing a business plan is market analysis. Oct 23, · The marketing and sales plan section of your business plan details how you plan to reach your target market segments, how you plan on selling to those target markets, what your pricing plan is, and what types of activities and partnerships you need to make your business a success/5().