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So don’t include outline points just because they are on a big list somewhere, or on this list, unless you’re developing a standard business plan that you’ll be showing to someone who expects to see a standard business plan.Small-business owners have been known to describe business plans in the most colorful terms. It has long touted a business plan as the foundation of a business – and you know what would happen to a house if it were built on a shaky, unreliable foundation.It should describe the organization of your business, and the key members of the management team, but it should also ground the reader with the nuts and bolts: when your company was founded, who is/are the owner(s), what state your company is registered in and where you do business, and when/if your company was incorporated.
A business plan can take many forms, depending on the venture.
A four-person management consulting firm may produce a leaner plan focused on service expertise and industry experience compared to a 20-employee widget maker, which would also have to describe products, manufacturing techniques, competitive forces and marketing needs, among other details.
Start from the very beginning understanding that your business plan ought to be specific to your business needs and objectives.
Every business ought to have a plan, but not every business needs a full formal plan with carefully crafted summaries and descriptions.
You’ll want to cover the technology you plan on using, your business location and other facilities, special equipment you might need, and your roadmap for getting your business up and running.
Finally, you’ll want to outline the key metrics you’ll be tracking to make sure your business is headed in the right direction.
It is always a good idea to think in terms of customer needs and customer benefits as you define your product offerings, rather than thinking of your side of the equation (how much the product or service costs, and how you deliver it to the customer).
Sometimes this part of the plan will include tables that provide more details, such as a bill of materials or detailed price lists, but more often than not this section just describes what you are selling and how your products and services fill a need for your customers.
Since a business plan requires a huge time commitment, it's understandable why you may have heard it described as “detailed,” “expansive” and even “exhausting.” Business plans can be all of these things, but there probably isn't a small-business owner alive who wouldn't add another word to the list once the exercise is complete: “This is no lead-in to a pep talk, but if it serves as one, it would be OK with the U. Small-business advocates like to say that a business plan is a must-have document for both potential business partners and investors.
But after contemplating the purpose, importance and actual contents of a business plan, you might agree that it's most valuable to the small-business owner who writes it.