Sales and Distribution Describe how you will distribute your products to the customer if applicable. Will you be selling wholesale or retail? What type of packaging will be required? How will the product s be shipped?
What methods will be used for payment? Advertising and Promotion List the different media you will use to get your message to customers e. Section 5: Ownership and Management Plan This section describes the legal structure, ownership, and if applicable the management, and staffing requirements of your business.
List ownership percentages if applicable. If the business is a sole proprietorship this is the only section required. Management Team Describe managers and their roles, key employee positions, and how each will be compensated.
Section 6: Operating Plan The operating plan outlines the physical requirements of your business, such as office, warehouse, retail space, equipment, inventory and supplies, labor, etc. For a one-person, home-based consulting business the operating plan will be short and simple, but for a business such as a restaurant or a manufacturer that requires custom facilities, supply chains, specialized equipment, and multiple employees , the operating plan needs to be very detailed.
Your business plan should explain: How you plan to finance your business; What product or service you are selling; How it is different to others; and Who your market or customers will be. It should also include a sales and marketing plan and a financial plan. Whether your small, medium or micro-sized enterprise gets funding or succeeds depends on how strong those assumptions are.
Do I know those people who are going to buy them? Nkontwana advises experimenting on a small scale with a new product or service before plunging in on a larger scale. Make it adaptable based on your audience. And each type of reader does have certain typical interests. If you know these interests up-front, you can be sure to take them into account when preparing a plan for that particular audience. However, keep these alterations limited from one plan to another. This means that when sharing financial projections, you should keep that data the same across the board.
Explain why you care. I wanted to change the way payments were made and make it easier for anyone, anywhere in the world to pay anyone with few to no fees. I explained why I wanted to build this. My passion shows through everything I do.
Instead, Ford was competing against other modes of transportation—horses, bikes, trains, and walking. If your business model i. Investors might place more emphasis on your product, service, and marketing plans.
A promotion plan details how you plan on communicating with your prospects and customers. For example, if you are producing a medical device, you will have milestones associated with clinical testing and government approval processes. Equipment Include a list of any specialized equipment needed. Use this chapter to describe your current team and who you need to hire. Nkontwana advises experimenting on a small scale with a new product or service before plunging in on a larger scale.
Be sure the packaging section of your plan answers the following questions: Does your packaging match your positioning strategy? Selling strategy: Give an overview of how you will sell your product or service. How does your packaging compare to your competition?
The start of this section should have an organizational chart of how your business is structured.
In many ways, your business plan is your roadmap.
Financial Plan and Projections Although this section comes at the end of your business plan, it can be the most important part of the whole document. In fact, Brian Chesky found of Airbnb is famous for his one-page business plan for global domination. Where do you fit in? When you recognize your assumptions, you can set out to prove that your assumptions are correct. Another method is to look at the current landscape of competitors and then price based on what the market is expecting. Be sure to explain this and provide an overview of your ownership structure as well.
The end result will be a comprehensive analysis of your company, as it is now and as you hope it will be in the future. Before reading the plan, hear what the business planning experts have to say about getting the most out of business sample plans.
Your business plan should explain: How you plan to finance your business; What product or service you are selling; How it is different to others; and Who your market or customers will be. Your positioning statement The first part of your marketing and sales plan is your positioning statement.
Sourcing and fulfillment: Do you rely on other vendors to provide your product or service?