The first step of a good business plan is to focus on a specific area. Below are some ideas:
Possible Areas of Focus
- Poverty / Economic Development
Idea Development Phases
A business plan clearly outlines a set of goals and the means for attaining those goals. It includes information regarding the objectives and procedures of how a team would go about achieving these goals.
The primary value of your business plan will be to create a written outline that evaluates all aspects of the economic viability of your business venture including a description and analysis of your business prospects.
A good business plan is critical in allowing others to gain a comprehensive understanding of your idea. In addition, it helps you allocate resources properly, handle unforeseen complications, and make good business decisions.
Below are resources that you may find useful while writing your business plan. While outlines and samples can be helpful, the key to a good business plan is to provide as compelling a case for the viability and effectiveness of your unique business idea. Don’t be constrained by what others have done.
- Executive Summary
- Summary of key elements of entire business plan. Usually written last
- Venture Summary and Vision
- Includes description of product/service, vision statement, consumer and business partner benefits, and marketplace needs
- In-Depth Description of Venture
- An examination of the primary target market for your product or service, including geographic location, demographics, your target market’s needs and how these needs are being met currently
- An outline of why your business is needed and why it would be competitive. Details the inputs, mechanisms, and outcomes of the venture
- Description of your business’s physical location, organizational chart, legal structure, facilities and equipment, kinds of employees needed, inventory requirements and suppliers, and any other applicable operating details, such as a description of the manufacturing process
- Marketing and Sales
- Describes how the product will be marketed and distributed (4 Ps)
- Financial Plan
- Description of your funding requirements, detailed financial statements, and financial statement analysis
- Appendices And Exhibits
- Any additional information that will help establish the credibility of your business idea, such as marketing studies, photographs of your product, and/or contracts or other legal agreements pertinent to your business
Please use our Business Proposal Guidelines as a reference when you are designing your business plan