Writing a business plan may seem like a big hurdle, but it doesn’t have to be. For that reason alone, writing a business plan and then leveraging your plan for growth won’t be nearly as challenging as you think.
The rest of this article will delve into the specifics of what you should include in your business plan, what you should skip, the critical financial projections, and links to additional resources that can help jump-start your plan.
You’re most likely targeting a specific market segment such as “style-conscious men” or “runners.” This will make it much easier for you to target your marketing and sales efforts and attract the kinds of customers that are most likely to buy from you.
If you are writing a business plan to get a bank loan or because you’re asking angel investors or venture capitalists for funding, you must include the details of what you need in the executive summary.
You can skip the executive summary (or greatly reduce it in scope) if you are writing an internal business plan that’s purely a strategic guide for your company.
In that case, you can dispense with details about the management team, funding requirements, and traction, and instead treat the executive summary as an overview of the strategic direction of the company, to ensure that all team members are on the same page.
Accommodate your investors, and keep explanations of your product simple and direct, using terms that everyone can understand.
You can always use the appendix of your plan to provide the full specs if needed.
A Farm Plan (FP) is used if you intend to develop your rural land.
It conveys to council the natural resource management (NRM) features of your property, rural business aspirations of the property, and the impacts of your proposed rural development on the natural resources and the surrounding community.