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Halkin also recommends that you put together a detailed strategic plan that establishes the strategies, steps, accountability and timelines for achieving the one-year goals of the business.A start up summary business plan includes the description of your products and services, the structure of your business, your target market, marketing strategy, funding requirements, financial projections, and licensing requirements, among others. A business plan helps you take a realistic view of your idea and double check whether it's really worth pursuing.
Give a brief history of the business and its ownership structure by focusing on: 2.
Vision Statement: Write a concise one- or two-paragraph vision statement, which gives your answer to the question: 'What do we want this company to become over the next five to 10 years? Mission Statement: Lay the groundwork for your 'brand promise' in a one or two paragraph description of what your company will be to its customers. Values: Provide a list of three to five core principles upon which you will build the business and stick to no matter what. Goals: Make a list of three to five long-term goals that translate your company's vision into specific, measurable, attainable, relevant and time-specific objectives. Market research: Take the next two to three pages to briefly answer the following questions: 6(b).
Marketing message: Based on the answers you outline above, take the next half page to explain the message you plan to communicate to your target market. Marketing mix: Use the next page or so to detail the methods you will use to deliver that message. Measurement: Follow the previous two sections with another half-page describing how you will measure the effectiveness of each of those delivery methods and, based on the results, adjust your plan accordingly. Sales: Take the next full page to summarize your sales plan by answering these questions: 10.
Financial Plan: As noted earlier, keep the details about your financials brief, using the same narrative style you have been using throughout the plan.
While your business plan should not be written in a hurry, you should exclude from it everything that's not essential to the core plan. Stay Flexible Treat your business plan as a living document that will evolve with time. For example, if your business plan is already two years old and you are applying for a new funding, you should consider updating your business plan. Answer Important Questions Regarding Your Business Think of questions that may come to the minds of your customers and stakeholders about your business.
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Answer each question honestly in a sentence or two.But, really, writing a 100 page business plan is not the best use of your energy.'I vividly remember years of lengthy business planning cycles that literally produced books - encased in three-ring binders,' says Denise Barnwell, president of Transformation Marketing in West Orange, New Jersey.It tells you what issues you may face down the line and how to tackle them. Find Out What Makes You Different Analyze what sets you apart from your competition. It could be the use of recycled material that promotes sustainable living, the contribution of a certain percentage of your revenue to charity, or some other factor that may help you build your brand.Think broadly about such differentiating factors before you get into the nitty-gritty of your research. Keep It Short Including lots of details only creates confusion and distraction.Executive Summary: Save the beginning for the end by taking one to two pages to write a concise synopsis of the entire plan.If you have followed these guidelines, the narrative portion of your plan should be 10 to 15 pages, with perhaps another eight to 15 pages of attachments and schedules related to the additional details of the marketing and financial sections.You should be able to substantiate your beliefs with proper arguments.Some of the important questions to answer may include the following: 2.Then, use a footnote to alert readers that more detailed financial schedules and assumptions will exist in a separate document.To keep focused, consider telling your story by providing the following information: 11.