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Business Plan Components
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Flashcards
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Executive Summary
The executive summary briefly outlines the main points of the business plan, providing a quick read of the business's goals and the strategies to achieve them.
Company Description
This section provides information on what the company does, its products, its competitive advantages, and the markets it serves.
Market Analysis
This part analyzes the industry, market size, growth, and trends as well as the target audience, outlining the opportunities and competition.
Organization and Management
This section outlines the organizational structure, details of the management team, and the qualifications of the board of directors.
Service or Product Line
Describes the products or services offered, the benefits to customers, and the product life cycle.
Marketing and Sales
This outlines the sales strategy, marketing plans, and the means through which customer relationships will be developed and maintained.
Funding Request
If seeking funding, this section specifies the amount needed, possible future funding requirements, and the proposed use of funds.
Financial Projections
This provides financial forecasts including profit and loss statements, cash flow projections, and balance sheets, aiming to project the company's financial future.
Appendix
An optional section that includes resumes, permits, leases, legal documentation, and other pertinent documents to support information in the plan.
Operational Plan
This section describes the physical necessities of the business's operation, such as the physical location, facilities, and equipment.
Strategy and Implementation
It provides details on how the business will achieve its goals, including sales forecasts, marketing strategies, and the action plan for achieving objectives.
SWOT Analysis
This analysis evaluates the business's Strengths, Weaknesses, Opportunities, and Threats to help plan strategic decisions.
Management Team Gaps
Outlines any current gaps in the management team and the strategies for filling these positions or overcoming associated challenges.
Exit Strategy
Describes the business owner's strategic plan for to selling or handing over the business to another company or entrepreneur.
Mission Statement
This is a concise summary of the business's purpose, the customers it serves, and its philosophical approach.
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