skip to main content

This page has been archived and is no longer being updated regularly.

Cite This Article
American Psychological Association. (2003, October 1). What to put in your business plan. Monitor on Psychology, 34(9). https://www.apa.org/monitor/oct03/plan

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

The content I just read:

Letters to the Editor