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Business Plans

 


A business plan is a written description of the basic structure of your proposed business.  It is essentially a document which describes what you plan to do and how you plan to do it.  Business plans can help perform a number of tasks for those who write and read them. They are used by investment-seeking entrepreneurs to convey their vision to potential investors. They may also be used by firms that are trying to attract key employees, prospect for new business, deal with suppliers or simply to understand how to manage their companies better.  What is included in a business plan, and how do you put one together ? Simply stated, a business plan conveys your business goals, the strategies youíll use to meet them, potential problems that may confront your business and ways to solve them, the organizational structure of your business (including titles and responsibilities), and finally, the amount of capital required to finance your venture and keep it going until it breaks even. Doesn't this sound impressive ?  It can be, if put together properly. A good business plan follows generally accepted guidelines for both form and content.

There are three primary parts to a business plan:


The first is the business concept, where you discuss the industry, your business structure, your particular product or service, and how you plan to make your business a success.


The second is the marketplace section, in which you describe and analyze potential customers: who and where they are, what makes them buy and so on. Here, you also describe the competition and how youíll position yourself to beat it.


Finally, the financial section contains your income and cash flow statement, balance sheet and other financial ratios, such as break-even analyses. This part may require help from your accountant and a good spreadsheet software program.

 

If you would like to create a business plan and require help, please contact us for assistance.

 

 

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