Writing a Business Plan
Steps in the Process
As was evident from the Introductory segment of "Writing a Business Plan", there are a wide variety of formats that can be used in writing a plan. Included here is a broad outline of the type of information that should be included in the plan. Much of the content will be generated by the individual who is trying to make a case for going into business. At certain intervals, where appropriate, you will find resources that might come in handy to expand on those topics.
Business Overview
Products/ Services
Industry Overview
Marketing Strategy
Management and Staffing
Regulatory Issues
Risks Implementation Plan
Executive Summary
Business Overview
Consult the guide, How to Find Company Information to find sources to answer these topics.
- Business history
- Vision and mission statements
- Objectives
- Ownership
- Location and facilities
Products/ Services
If you are creating a business plan for a new business, you should be prepared to answer the following questions:
- Products/services description
- Key features
- Production process
- Future products/services
- Comparative advantages in production
Industry Overview
Consult the guide, How to Find Industry Information to find sources to answer these topics:
- Size of industry
- Key product segments
- Key market segments
- Purchase process and buying criteria
- Description of industry participants
- Key industry trends
- Industry outlook
Marketing Strategy
Consult the guide, Conducting Marketing Research, to find sources to answer these topics:
- Target markets
- Key competitors
- Analysis of competitive position
- Pricing strategy
- Promotion strategy
-
For example:
trade publications
media outlets - Distribution strategy
Management and Staffing
- Organizational structure
- Management team
- Staffing
- Labor market issues
Regulatory Issues
The U.S. government has a myriad of departments that are good resources to find information on the topics below. Check this excellent hierarchical list of U.S. government departments for more information on these topics:
- Intellectual property issues
- patents, trademarks
- Other regulatory issues
-
For example:
wages and salaries
disability policies
health regulations
product safety programs
Risks
- Market risks
- Other risks
Implementation Plan
Financial Plan
For a full review of the sources necessary to implement a financial plan,
consult Writing a Business Plan - Financial Section
- A. Sources and Applications of Funding
- B. Capital Equipment
- C. Balance Sheet
- D. Break-Even Analysis
- E. Income Projections
- F. Cash Flow Projection
- G. Deviation Analysis
- H. Historical Reports for Existing Business
