What to put in your business plan

October 2003, Vol 34, No. 9

Print version: page 41

INTRODUCTION

  • Detailed description of the business and its goals

  • Ownership and legal structure

  • Skills and experience brought into the business

  • Your competitive advantage

MARKETING

  • Products and services offered

  • Customer demand

  • Market size and location

  • Advertising and marketing plan

  • Pricing strategy

FINANCIAL MANAGEMENT

  • Amount and source of start-up funds

  •  Expected cash-flow for the first year

  • Projected income statements and balance sheets for the first two years

  • Your break-even point

  • Personal methods of compensation

  • How you will maintain accounting records and procedures

OPERATIONS

  • Daily management

  • Hiring and personnel policies

  • Insurance coverage and leasing agreements

  • Delivery of products and services

Source: Diana Gordick, PhD

RELATED ARTICLES