Writing a business plan is a vital first step to starting a small business.
Your business plan will become, and remain, your roadmap to success for as long as you own the business.
If you have a board of directors, that should be included here.
Also describe your salary structure and benefits package, as well as any bonuses you plan to give.
Make sure to include the following in this section: An important part of your business plan is your marketing and operations section.
Here you will outline your advertising and sales strategy for the business.The service and/or product section of your business plan is important for defining the core of your business.It should also include how this service or product will benefit your customers and fulfill a market need.For new businesses this will likely be short, but this section will grow over time as you start analyzing profits and revenue.As a new business, your executive summary should concentrate on your company background and your reasons for starting this business in your particular industry.These projections should match the loan or funding requests that you are looking for.If there are any inconsistencies or guesswork, be sure to explain and outline why in your proposal.This can include items such as your credit history, resumes, letters of reference, and any additional information that a lender may request.A 5-year business plan will help you manage your company and seek loans or investment money.This section will be frequently updated as the market changes.What to Include in Your Market Analysis: Your Team and Management section should outline what your company structure will look like, including ownership, management, and directors.