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Every business needs a business plan. It serves as a roadmap for your business. If you’re looking to save money, you may want to try writing your business plan yourself instead paying a someone else to do it for you. And If you’re planning to take your business to the next level and want to bring in investors to raise working capital for your business you’ll need to have a strong business plan that includes strong financial statements. Your business plan can cover any time period, but the most common is five years.
What Your Business Plan Should Include:
A business plan can include many different aspects of your business. It can be as detailed as you want. But it should majorly contain theses;
An Executive Summary: This is where you describe your business, its mission and its objectives.
A Company Summary: Here you provide more information about your company, including its history as well as recent financial statements.
Products and Services: Be specific about what it is your company does. That is, the products or services you provide for your customers.
Market Analysis: Here. you describe your target market, and how you are reaching it. You also describe the competitive market environment and analysis.
Operations Plan: In this section, outline how your company operates and why it is or will be successful. Include your competitive strengths, marketing and sales strategies, sales projections and also previous successes.
Management Description: This section introduces the running key components of your business, and can also include brief resumes of each team member.
Future Projections: this is where you introduce where you are taking your business, the anticipated risks involved and how you intend to handle them.
On a final note, if you’ve finally decided to write your own business plan, source for any free templates you can find online to serve as a guide or better still go for a business in a box software and find a template that works for you. And make sure to keep your business plan regularly updated.
Good Luck!!!
