How to Write a Business Plan, Step by Step
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A business plan is a written document that provides a framework for making decisions and setting goals.
It can help you evaluate your business concept in terms of viability and sustainability. It will also provide information that you can use repeatedly as the need arises.
A business plan is a document that outlines the goals, strategies and tactics of your business. It’s a roadmap to help you reach your destination — and it’s required by most lenders and investors.
A well-written plan can help you raise capital in order to start or expand your business.
Business plans are not set in stone. They’re more like guidelines for your business, which means if something changes (like your market), you can update it. But it’s important to keep track of what does change so you can refer back to it later.
The Executive Summary:
It’s all there in the executive summary: your company description, business goals, and reasons potential investors would want to give you money.
An executive summary is a short statement of the four most important points. The idea behind an executive summary is to be able to tell what the entire plan will discuss without having to read through it all. The primary purpose of this document is to provide the reader with a working understanding of your company and what you are offering before he or she reads the entire business plan.
The executive summary is usually the first section of any business plan, so it’s important that it be written last. The executive summary should be short — no more than one page — and written in plain language that’s easy for anyone to understand. It should include:
- Company description: Who are you and what do you do?
- Business goals: What are your overall goals for this venture?
- In summary, what’s the purpose of this business plan?
- How much you are looking to raise (If looking for funding)
- Key information about your company leadership team, and location
