Creating a Plan for Your Small Business
Small business plans are necessary to forecast your company’s future goals and accomplishments. If you are seeking a funder, the business plan will outline your plans, identify your competitors, display the market you’re interested in and your current financial status so the funder can learn about the company. If you already have funders in place, a business plan can be used as a tool to monitor your progress and control the future success of your business. A business plan can also serve as a sales and recruiting tool for future employees and investors. Think of your small business plan as a summary of your company and all that it entails.
A business plan is not only necessary for the review of funders but it also helps the business owner review the company when they are writing it. Business owners can further review the goals they’ve set while coming up with a small business plan. You may make a revision to your marketing plan or to any other section that you otherwise would have missed.
A general small business plan is separated out into eight sections. Use this template to outline and customize your own small business plan.
The eight sections include:
- Executive Summary
- Business Description
- Market Analysis
- Product or Service Line
- Marketing and Sales Strategy
- Organization and Management
- Financial Projections
- Funding Request [if necessary]