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 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.
Updating and referring to your plan on a regular basis can drive better decision making and help keep your focus clear.
This is critical as the demands of growth, customers, staff, and investors threaten to cloud your company's vision.
Check out these insanely creative business plan templates for your new business idea and imagine the difference one could make in helping you get past that first major hurdle with investors: grabbing their attention in a BIG way.
Present your market analysis, timeline, statistics, and more in an engaging and highly visual infographic.
For a one-page plan, the answers to questions should be one or two sentences.
How do you plan to grow the business and to what degree?
Click here to subscribe to The Bcast on i Tunes » 1.1 Problem 1.2 Solution 1.3 Market 1.4 Competition 1.5 Financial Highlights 2.1 Problem Worth Solving 2.2 Our Solution 2.3 Validation of Problem and Solution 2.4 Roadmap/Future Plans 3.1 Market Segmentation 3.2 Target Market Segment Strategy 3.2.1 Market Needs 3.2.2 Market Trends 3.2.3 Market Growth 3.3 Key Customers 3.4 Future Markets 3.5 Competition 3.5.1 Competitors and Alternatives 3.5.2 Our Advantages (see an example) 4.1 Marketing Plan 4.2 Sales Plan 4.3 Location and Facilities 4.4 Technology 4.5 Equipment and Tools 4.6 Milestones 4.7 Key Metrics 5.1 Organizational Structure 5.2 Management Team 5.3 Management Team Gaps 5.4 Personnel Plan 5.5 Company History and Ownership 6.1 Revenue/Sales Forecast 6.2 Expenses 6.3 Projected Profit and Loss 6.4 Projected Cash Flow 6.5 Projected Balance Sheet 6.7 Business Ratios While every business owner should have an ongoing planning process to help them run their business, not every business owner needs a complete, formal business plan suitable for submitting to a potential investor, or bank, or venture capital contest.
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.