How to Write a Business Plan in Ten Steps
Thanks for visiting my "How to Write a Business Plan in Ten Steps" page. On this page, you will be able to find helpful tips and tricks for writing a professional business plan.
For a more detailed discussion about writing a business plan, please check out my book, "How to write a Business Plan in Ten Steps". In this book, written by myself, Paul Borosky, MBA., Doctoral Candidate, and published author, you will find:
- Introduction 5
- Step 1 – Company Description 6
- Company Summary: 6
- Competitive Advantages: 6
- Product / Service Description: 7
- Business Models: 9
- Future Plans: 12
- Business Objectives and Timeline: 12
- Mission Statement: 13
- Vision Statement: 14
- Keys to Success: 15
- Step 2 – Target Market 17
- Step 3– Market Analysis 20
- Industry Overview: 20
- Industry Statistics: 20
- SWOT Analysis: 23
- Step 4 – Organization and Management 26
- Management Summary: 26
- Step 5 – Organizational Chart 28
- Step 6 – Marketing 30
- Marketing Objectives and Keys to Success: 30
- Traditional Marketing: 31
- Internet Marketing: 31
- Social Media Marketing: 32
- Step 7 – Financials 33
- Financial Assumptions: 33
- Financial Summary: 34
- Startup/Expansion Costs: 35
- Loan Payment Calculation: 40
- Profit and Loss for 12 Months: 41
- Income Statement: 44
- Balance Sheet: 46
- Financial Ratios: 47
- Step 8 – Funding Request 50
- Step 9 – Executive Summary 55
- Step 10 – Appendix 58
- Summary 61
- Business Plan Sample 62
- Business Plan Template 84
What to Expect From Our "How to Write a Business Plan in Ten Steps" Series:
Quality Business Plan has a ten-step series to show small business owners how to write a business plan. By following these steps, small business owners and entrepreneurs will be able to quickly construct a basic business plan.
How to Write a Business Plan: Executive Summary:
The executive summary section is meant to be a brief summary of your total business plan. In this section, make sure to include a brief discussion about your company, target market, organizational structure, product or service, highlights of your financial projections, and finally a funding request. The trick for this section is to make sure all your information sits on one page.
How to Write a Business Plan: Company Description:
The company description is meant to introduce your company to the reader. Make sure to discuss how your company will be held, sole proprietor, LLC, etc. Also, make sure to start this section with your problem statement.
How to Write a Business Plan: Market Analysis:
For the market analysis, I always start this section by giving a brief discussion related to the industry that the company will compete. From this, make sure to explore your target market, competitors, and complete a SWOT analysis.
How to Write a Business Plan: Organizational Structure:
The organizational structure is designed to convey your business structure. This section should include discussions related to who your management team will be, their experience in the industry, and an outline of expectations for your management team and employees.
How to Write a Business Plan: Service or Product Line
In the product and service section, make sure to go into great detail about your product or service. In my opinion, I always like to start this section with the problem statement again. This reinforces the importance of your product and service and shows the reader how your product and service will be used by consumers.
How to Write a Business Plan: Marketing and Sales:
Marketing and sales is a critical component of the business plan. In the section, make sure to cover how you will implement traditional and social media marketing in your business. Further, make sure to discuss how you will use both channels to reach your target market.
How to Write a Business Plan: Funding Request:
Need money? Make sure to ask for it and do not be shy. Try to start this section discussing how funds will be spent. From this, at the end, make sure to put a specific dollar amount as to how much money you need and how the funds will be repaid.
How to Write a Business Plan: Financial Projections:
In my opinion, the most important part of the business plan. For your financial projection section, make sure to include a 12-month breakdown of your revenues and costs. In addition, include a pro forma income statement and balance sheet as well as various financial ratios.
How to Write a Business Plan: Business Strategies:
This component is often left out of most business plans. However, specific strategies as to how you are going to compete in the marketplace, your marketing strategies, business model strategies, and synergy strategies should be in one section. This will allow the reader to understand how all your various strategies will work together to create a competitive advantage in the marketplace.