Writing a Business Plan: Podcast

Before you do anything else concerning your business, it is a good idea to write a business plan.  So, what the heck is a business plan, and how do you write one?  That’s what I am going to talk about with you today, and by the time you reach the end of this blog, you will know how to write your business plan, and should get started with it right away. If you do not want to read this post, click here for the podcast.

A Business Plan should include:

Executive Summary: This includes information like the mission statement, the date business began, who the founders are and what functions they serve, etc.
Market Analysis: In this section, you include information on the business industry you are in, and what you know about it.
Company Description: You don’t need too much detail here, but you should talk about what your business is, and what about that you believe will make it a success.
Organization and Management:This is where you will include your business structure, and profile the most important members of the company.
Marketing & Sales Management: This is where you outline your marketing and sales strategies, and how you expect them to benefit the company.
Service or Product Line: Detail the services or products your business is to offer.
Funding Request: This is the section where you detail and essentially ask for the funds you need in order to start or expand your business.
Financials: This section is used to detail the current financial information along with the financial outlook of your business.
Appendix: This should be provided on as needed basis, and should include information like photographs of your products, resumes of key management professionals, business and personal credit information, etc.

For sample business plans, please see: BPlans.com

Why do you think Business Plans are good?  Did you use one when you started your business?  Why or why not?  What can you offer to help those who are just starting out?