I’ve seen it all too many times – a business plan for a small business startup that once the business gets going, their business plan simply sits on a shelf gathering dust. A business plan will help you put down your business goals and strategies on paper. In a more broad sense, business planning helps businesses of all sizes to deal with the day-to-day needs of the organization by forcing the owner to weed through the operations of a typical work day.
Although most businesses should imitate other successful businesses, they also need to provide something unique and valued by potential customers in order to succeed. The main areas this document should contain are Management and Operations Plans, Market Analysis, Services and Pricing, Sales Strategy and Financial Analysis.
However, your profile can be used to describe your company in your business plan. Equally important to discuss is technology licensingâ€”if you are licensing core technology from someone else, you need to disclose that in your business plan and be sure to include details of the financial relationship.
It helps you to remember why you started in business, your vision for the future of the company, and the steps you plan to initiate to reach the growth expectations. This should be considered to be a marketing document as well. Internal Strategy Plan: As you build your business, writing an internal plan will help you think out your future strategies.
The business plan continues with a description of the financial results the business intends to see, and the underlying cost and revenue assumptions. You’ll even find a business plan template for specific industries including business plan templates in Word for healthcare providers, professional services, and retail.