Every business needs to have a written business plan. Whether it’s to provide direction or attract investors, a business plan is vital for the success for your organization. But, how do you write a business plan?
SBA.gov recommends that a business plan includes;
- Executive summary – a snapshot of your business.
- Company description – describes what you do.
- Market analysis – research on your industry, market, and competitors.
- Organization and management – your business and management structure.
- Service or product – the products or services you’re offering.
- Marketing and sales – how you’ll market your business and your sales strategy.
- Funding request – how much money you’ll need for next 3 to 5 years.
- Financial projections – supply information like balance sheets.
- Appendix- an optional section that includes résumés and permits.
However, getting started can be difficult to do. So, here’s a seven steps in writing a perfect business plan. Read More…..