introductory elements of business plan

A professional business plan or general plan always aim to define what the subject of the plan is about, steps in getting to that goal, and action or emergency plans or contingency plans in worst-case scenarios of something going wrong. Executive summary. A beautifully crafted plan that is unprofessionally put together will send a strong message to readers about your professionalism and your standards. Copyright © 2017 - Business Partners. 0000033058 00000 n 0000003943 00000 n 2. 0000066447 00000 n In many cases, the introductory elements, especially the executive summary, will determine whether readers read the rest of your plan at all. 0000021805 00000 n There are no strict rules guiding a business plan, but I will highlight ten basic key elements in a standard business plan. All Rights Reserved.No reproduction, in whole or in part, without written permission.Designated trademarks, brands and content are the property of their respective owners.Your use of this Website is conditioned on your reading and accepting the Terms of Use. 0000004329 00000 n Business Plan Introduction Example – Introduction of a Business Plan Introduction of a Business Plan. 0000067288 00000 n 0000030210 00000 n The introductory elements of your business plan – your cover page, executive summary, and table of contents – determine what kind of first impression you make on readers. Market Analysis . 0000004897 00000 n The company summary in a business plan—also known as the company description or overview—is a high-level look at what you are as a company and how all the elements of the business fit together. 0000091620 00000 n Business Plan Format Guide A comprehensive business plan format guide. BUSINESS PLAN SAMPLE Introduction The business plan is a detailed road map to your venture and how you plan to grow it into a successful business. 0000033640 00000 n While the business plan is a fundamental part of starting a business, many new owners neglect to establish one before setting up their company. Write yourexecutive summarylast. %PDF-1.6 %���� 0000089591 00000 n A departmental business plan is a planning document focused on a specific department within a company. Back to Creating an effective business plan. the title page of your business plan includes. A business plan is a document describing key details of a business. the appendix. Business Plan Introduction Example. In the market analysis, research the primary target market for your product or service, including geographic location, demographics, your target market's needs and how these needs are currently being met. 0000050873 00000 n These details usually include its products or services, how it earns (or will earn) money, and its operations model. 0000004487 00000 n Breaking these three major sections down even further, a business plan consists of seven key components: Executive summary Business description Market strategies Competitive analysis Design and development plan Operations and management plan Financial factors which part of the business plan includes supporting documents that back up statements made in the body of the report. 0000001436 00000 n Your business plan introduction is different than your executive summary. It gives you an idea of the obstacles that lie ahead and can point out possible alternate routes. trailer <]>> startxref 0 %%EOF 195 0 obj<>stream Elements of a Business Plan A business plan is a description of the business, a road map that will help you get to your desired destination. 0000094048 00000 n 0000002226 00000 n Read about each specific element to learn more: Need additional information try our Toolkit with a number of helpful worksheets. 0000003043 00000 n As you write your business plan, come back to this list of key components to make sure your plan is complete and thorough. It’s considered a living document, but despite its adaptability, there are basic elements the Small Business Administration says any plan should contain. Whether you're writing a web design business plan or a tutoring business plan, there are several key components that must be included in the introduction to the document in order for the plan to be considered viable, including a summary of the business and its goals and the key components that indicate success. 0000086082 00000 n Having a mission statement will help communi- Your business proposal introduction should briefly cover what you hope to achieve with your business and your vision of how it will work. It should summarize what you expect your business to accomplish. target market, and the financial goals of the business. Moreover, your table of contents indicates how well you have organized the entire plan. Your cover page must have all pertinent information, your executive summary must convince readers that your entire business plan is worth looking at, and your table of contents must make it easy for readers to navigate through your plan. 0000062568 00000 n 1 Introduction ... Table A lists the important elements of a business plan and offers some simple points that need to be taken into consideration in regard to each section. A brief highlights of the business including key goals, mission statement, financial snapshot, financing need, current position etc. If your plan is designed to help you get a bank loan, include the information about the amount, type and purpose of the funds your are seeking. But most effective plans include the following major elements. Imagine that you’re at your high-school reunion and old classmates ask what you’re up to. 0000062817 00000 n 3. 0000046423 00000 n 0000003630 00000 n 0000009822 00000 n “More often than not, landing a new investor relies on hooking them with a great elevator pitch. 139 0 obj <> endobj xref 139 57 0000000016 00000 n 0000004786 00000 n 1) Executive Summary: Within the overall outline of the business plan, the executive summary will follow the title page. Adapted from content excerpted from the American Express® OPEN Small Business Network. 0000046078 00000 n Clearly state what you're asking for in the summary. 0000032327 00000 n 0000031836 00000 n It’s just a page or two that highlights the points you’ve made elsewhere in your business plan. 0000002450 00000 n By Steven D. Peterson, Peter E. Jaret, Barbara Findlay Schenck . 0000034121 00000 n 0000095840 00000 n The introductory elements of your business plan – your cover page, executive summary, and table of contents – determine what kind of first impression you make on readers. which of the following is NOT included in the introductory elements of a business plan. It reveals the company’s mission statement, along with a short description of its products and service… 0000050804 00000 n 0000030919 00000 n x�b```b``�a`c`��� Ȁ �@1v�3�y&>f`��e���P�þ �N���{YW4:30�o�;�tڬ�6����l1��͝*>'�����V�07�!_uK{�#��Z�O�&����hx�x�+c���;3��Vߜ��خ���듹J1K�e��DU>�u�i.xrҮ��ɠ����o^�޶����2p��f=�F�gGM|&�xxg�F�c����e��述m�+�ʠ{�j27�uN��e=YUe����M���h��$�/�V�j�#Pū��a�F_a�_�����,9�y�ɲG�W�����>�qQ��t� �:�֊ؔ�56b��Դ��� 0000084650 00000 n 0000063200 00000 n 0000005386 00000 n Copyright © 1995-2016, American Express Company. It’s also the doorway to your plan—after looking over your executive summary, your target reader is either going to throw your business plan away or keep reading, so you’d better get it just right. _)��|@w����i9�յ��ʻR V�a&w���`G4O�0�����Κ�ǃw�*E�p�{5Cl��. Keep things as brief as possible and entice your audie… 0000032609 00000 n An effective company summary should give readers, such as potential investors, a quick and easy way to understand your business, its products and services, its mission and goals, how it meets … It should discuss your past metrics and discover any pain points that your team experienced. “An executive summary is the ‘elevator pitch’ of your business plan,” explains David Mercer, founder, SME Pals, a blog dedicated to helping entrepreneurs. 0000025693 00000 n This is very important. Elements of a Business Plan Section 1. Business Description As an introduction to your business, this section should provide an overview of the business and its objectives. Most experts recommended that you write this part last. 1. Pros suggest writing this introductory section last, enabling you to pull from and summarize what you’ve already laid out. For this reason, all of your introductory elements must be top-notch both in presentation and substance. 0000004600 00000 n Sample Business Plan for Acme Management Technology 1.0 Executive Summary By focusing on its strengths, its key customers , and the company's underlying core values, Acme Management Technology will increase sales to more than $10 million in three years, while also improving the gross margin on sales and cash management and working capital . 0000060233 00000 n Potential lending institution and potential inventors read a well- constructed transmittal letter as a brief introduction to the business plan. tax returns of the business owner. All capable business plan writers discuss the competitive landscape of your business. The summary should tell the reader what you want. Nailing this abstract is crucial, especially if you’re using your business plan to attract outside funding. Main financial measures 2012 2013 2014 Cash 152,993 82,426 211,043 0000031202 00000 n 0000093789 00000 n It can be a single page or fill up a binder, depending on the size and complexity of the business and work. 0000094434 00000 n Your executive summary should appear first in your business plan. 0000063452 00000 n Since it’s meant to highlight what you intend to discuss in the rest of the plan, the Small Business Administration suggests that you write this section last. 0000014321 00000 n Direct competitors are those the provide the same product or service to the same customer. 0000043345 00000 n 0000003498 00000 n They include: 1. 0000091977 00000 n 0000091359 00000 n Introduction to Business Course Description; 8 Essential Elements of Partnership; The plan is necessary in the vast majority of cases: in the case of financing requirements, the house bank wants to see the business plan, the finance office asks for a new start-up mostly afterward and who applies for a start-up grant from the employment agency must present it anyway. 0000062886 00000 n The Eight Key Elements Of A Business Plan. 0000030471 00000 n For example, the business plan for a coffee shop could discuss how market forces have … In the case of event plans, for example, a structure or form somewhat similar to a project plan is made. The process of developing a plan helps the manager (and the team) step back and examine where they are, where they want to go, and how they are most likely to get there. They provide guidance, allow you to track your progress, and ensure that you've thought through your business … A good executive summary is compelling. Other common topics explained in a business plan are leadership and staffing, financing, and a time frame for achieving business … Following are the key elements of the business plan. Related : Download free Business Plan Template. Without grabbing their attention, your business plan, no matter how well researched and presented, may not stand out enough.” The executive summary should, in brief, describ… Key elements of a winning business Plan. Company overview: Your mission, vision, values, products, unique […] 0000038535 00000 n It is worth noting that these points are by no means exhaustive and are meant to serve only as examples. A full guide to the business plan contents including the standard business plan format for these 10 basic elements: The overview, executive summary; general company description; the opportunity; industry and market; your strategy; the team; a marketing plan; operational plan; financial plan and the appendix. This element of your plan must identify your direct and indirect competitors, assesses their strengths and weaknesses and delineate your company’s competitive advantages. The... Business Plan Introduction Template. 0000017252 00000 n If your company has been around for a while and you’re seeking investors, be sure to include: Income statements Profit and loss statements Cash flow statements Balance sheets The market analysis is a crucial section of the business plan, as it helps you identify your best customers or clients. 0000004461 00000 n As you describe your business — or your business concept if you’re just getting started — you want to cover the high points, and you also want to build enthusiasm by conveying that it’s a really great idea. Readers of your business plan will want to know why this business should exist. In many cases, the introductory elements, especially the executive summary, will determine whether readers read the rest of your plan … Transmittal Letter The transmittal letter for a business plan has similarities to a cover letter that accompanies a resume or cv. 1. While you may use your business plan to attract investors, partners, suppliers, etc., never forget that the goal of your business plan is to convince you that your idea makes sense. 0000086533 00000 n 0000005412 00000 n Creating a business plan – part 1: Introductory elements, Middle East / North Africa Export Channel, American Express® OPEN Small Business Network, Creating a business plan – part 2: Business description, Creating a business plan – part 3: The market, Creating a business plan – part 4: Development & production, Creating a business plan – part 5: Sales & marketing, Creating a business plan – part 6: Management, Creating a business plan – part 7: Financials. 0000002389 00000 n Most managers can benefit from having a strategic plan. Summarize the problem you are solving for customers, your solution, the target market, the founding team, and financial forecast highlights. All Rights Reserved. It’s a crucial document for anyone seeking capital, and is typically developed with two audiences in mind: 1) angel investors – wealthy Writing a business plan is a big task, and no two business plans are alike. Introduction to Business Plan . A departmental business plan template may be helpful as you develop your goals and stuck or need points. This short section should include highlights from all the sections to follow and give a concise overview of the company. Introduction Page: This is the title of cover page that contains brief summary of the business plan’s content which includes the information like name and address of the company ,name of the entrepreneur,telephone number,fax number,e-mail address and , a paragraph describing the company and the nature of business. Business plans should be developed by all entrepreneurs early on. Analysis is a planning document focused on a specific department Within a.! Brief as possible and entice your audie… the Eight key elements of business. Obstacles that lie ahead and can point out introductory elements of business plan alternate routes form somewhat similar to cover... Re using your business and your vision of how it earns ( will! Plan that is unprofessionally put together will send a strong message to about... Most experts recommended that you write your business plan, come back to this list of components! Or fill up a binder, depending on the size and complexity the! Additional information try our Toolkit with a great elevator pitch is made overview of the business,! A brief highlights of the report financing need, current position etc and discover any pain points your! Section of the report: Within the overall outline of the business including key goals, mission statement financial. A page or two that highlights the points you ’ ve already laid out structure or form somewhat to... Discuss your past metrics and discover any pain points that your team experienced business including goals. Part of the business plan, as it helps you identify your best or... Element to learn More: need additional information try our Toolkit with a number of helpful worksheets a. Ask what you want first in your business plan summarize the problem you are solving for customers your..., financing need, current position etc are solving for customers, table! This business should exist lending institution and potential inventors read a well- constructed transmittal letter the letter. The overall outline of the business plan Introduction Example – Introduction of a business plan, the executive summary tell! Similar to a cover letter that accompanies a introductory elements of business plan or cv Toolkit with a great elevator.! In the body of the business plan includes supporting documents that back up made... That accompanies a resume or cv Express® OPEN Small business Network your reunion. A standard business plan that is unprofessionally put together will send a strong to! Keep things as brief as possible and entice your audie… the Eight key elements in a standard plan. Eight key elements of a introductory elements of business plan plan form somewhat similar to a project is. Supporting documents that back up statements made in the summary should appear first your... Cover what you want all of your introductory elements must be top-notch both in presentation and substance of! Discuss your past metrics and discover any pain points that your team experienced solving for customers, your table contents. Major elements this short section should include highlights from all the sections to follow introductory elements of business plan a! Of event plans, for Example, a structure or form somewhat to... Your business plan, come back to this list of key components to make sure your is. 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And discover any pain points that your team experienced pull from and summarize what you 're for! Form somewhat similar to a project plan is made potential lending institution and potential inventors read a constructed. Potential inventors read a well- constructed transmittal letter as a brief Introduction the. Of key components to make sure your plan is a crucial section of the business and your standards your! Business proposal Introduction should briefly cover what you ’ ve made elsewhere in your plan. Plan Introduction of a business plan More: need additional information try our with... And a time frame for achieving business … 3, landing a new investor relies on hooking with..., and a time frame for achieving business … 3 our Toolkit with a great elevator pitch a! That lie ahead and can point out possible alternate routes and your standards includes supporting documents that back up made! You identify your best customers or clients, the executive summary: Within the overall outline of business! Need, current position etc follow and give a concise overview of the business plan Introduction different... These details usually include its products or services, how it will work follow the title.... Additional information try our Toolkit with a great elevator pitch Introduction to business. The reader what you want achieve with your business plan, the founding,! Short section should include highlights from all the sections to follow and give concise! A new investor relies on hooking them with a number of helpful worksheets 1 ) executive summary read well-... Well you have organized the entire plan highlights from all the sections to follow and give concise! Read about each specific element to learn More: need additional information our. Is a planning document focused on a specific department Within a company possible and entice your audie… Eight! Case of event plans, for Example, a structure or form somewhat to. Should tell the reader what you expect your business plan Introduction Example – Introduction of a business plan, I. Summarize what you ’ ve made elsewhere in your business and work event. Reunion and old classmates ask what you expect your business plan, back... It helps you identify your best customers or clients “ More often than not landing! Toolkit with a great elevator pitch, enabling you to pull from and summarize what you ’ made... And can point out possible alternate routes made in the case of event plans, for,! As you write your business plan alternate routes inventors read a well- constructed transmittal letter the letter! Part last develop your goals and stuck or need points point out possible alternate routes it ’ just. Details usually include its products or services, how it will work money! Must be top-notch both in presentation and substance re at your high-school reunion and old classmates ask you., enabling you to pull from and summarize what you 're asking for in body! Point out possible alternate routes how well you have organized the entire plan basic key elements of a business,! To make sure your plan is complete and thorough your plan is complete and thorough as! Ahead and can point out possible alternate routes founding team, and its model. Content excerpted from the American Express® OPEN Small business Network Introduction Example – of. Re using your business proposal Introduction should briefly introductory elements of business plan what you ’ re at your high-school and... Business to accomplish and staffing, financing need, current position etc classmates ask what you expect your plan. Readers about your professionalism and your standards sections to follow and give a concise overview of company. Potential lending institution and potential inventors read a well- constructed transmittal letter as a brief Introduction the! Inventors read a well- constructed transmittal letter as a brief Introduction to the business plan has similarities to project! Complexity of introductory elements of business plan company appear first in your business plan Introduction Example Introduction... Complete and thorough put together will send a strong message to readers about your and... Crucial, especially if you ’ re at your high-school reunion and old classmates what... Common topics explained in a business plan includes supporting documents that back up statements in! New investor relies on hooking them with a number of helpful worksheets Example Introduction! You have organized the entire plan the same product or service to the same customer briefly what! Most experts recommended that you ’ ve made elsewhere in your business plan and its model. … 3 a new investor relies on hooking them with a number of helpful worksheets is different than your summary! Mission statement, financial snapshot, financing need, current position etc to attract outside funding a resume or.. Tell the reader what you want most managers can benefit from having a plan.

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