Business Plan Personnel

Established businesses should also provide historical financial data.

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If you are using your business plan to attract investment, the executive summary should also state how much capital you need and how you intend to use it.

Because the executive summary encapsulates the entire business plan, it will be the last section you write — and the first section of your business plan.

It should also cover administrative issues such as business location, legal structure and personnel, and explain how you will handle accounting, insurance, legal and security matters.

Market Analysis This section describes your industry, the market for your products or services and the competition your business faces.

Once you have completed your business plan, review it regularly to monitor the progress of your business and make necessary adjustments.

Keep a record of every business plan you distribute.Marketing and Sales Strategy This section details how you will market and sell your product or service.The marketing strategy includes how you will identify and attract customers; how you will grow your business; how you will distribute your product or service; and how you will communicate with your target market.This allows you to update all copies of your business plan — and ensures your information stays in the right hands.If you plan to give your business plan to private investors, include a private placement disclaimer. Small Business Administration sponsors a website that offers ideas for business plans and other helpful information at gov.Business Description This section explains what your business does.It includes your business’s history, mission, organizational structure and strategy for marketing.Whether you are just starting out or ready to expand your enterprise, a business plan is your blueprint for success.Projecting three to five years into the future, a business plan articulates your business goals and clarifies your path to achieving those goals.Financial Projections This section forecasts the future financial health of your business.It should include three documents: an income statement projecting how much your company will earn or lose; a cash-flow statement illustrating how much cash your business will need and where that cash will come from; and a balance sheet reflecting how much your business will own versus how much it will owe.

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