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A good business plan takes time, planning and research to put together, and it’s worth the up-front effort to assess if your idea is viable as a business and how you’re going to make it happen.Generally the headings in a business plan and the information you’ll need to consider are: The Executive Summary: The highlights of your plan Location and History of Business, Facilities and Equipment; Legal Structure; Insurances: This section describes the legal entity and ownership structure, gives an overview of start-up costs and initial funding.It can be as simple or as complex as your business is.
“Therefore, an analysis of strong performers should reveal the causes behind such a successful track record. Outline the milestones you want to hit both short-term and long-term. Include your current financial information, how much external funding you need to grow your company and where that money will be invested.
This analysis, in conjunction with an examination of unsuccessful companies and the reasons behind their failure, should provide a good idea of just what key assets and skills are needed to be successful within a given industry and market segment.” Customer Analysis. Show your projected revenues and profits over the next few years.
Show how much it costs to deliver what you’re selling.
The Industry and Market Analysis: Describe your target market and segment you will focus on, including market demographics, market growth, trends and forecast.
Your business plan should include: Executive Summary.
Quickly clarify your vision and clearly outline your goals. Include market trends, new products and potential opportunities.View this exercise as a way of testing your ideas, and deciding on strategies that will help you to reach your goals.After all, a solid business plan is essential for long-term business success. There are many good free business plan templates around, such as the Federal Government’s au template page.It should create an image about the company, should be simple, but exhaustive enough to document the details about your business.Let us take a look at some of the key elements of the content of a business plan.Describe the nature of your industry and your competition.Strategies, Mission, Objectives and Milestones: Marketing Strategies, Advertising and Promotion; Sales forecast and cost of sales; Distribution, Plans for Growth – Define your milestones with dates, budgets and specific responsibilities.The competitive analysis should answer all of these questions. A marketing plan establishes how you will brand your product while identifying the promotional tactics and channels you will use to communicate your messages. Describe how your business functions on a day-to-day basis.“According to theory, the performance of a company within a market is directly related to the possession of key assets and skills,” Entrepreneur Magazine explains. Detail the roles and responsibilities of your team.Executive Summary The business plan should at first contain a summary.This should capture the key points in the plan and is meant to summarize the important details about the business.