Do you dream of being your own boss? How about ditching the time clock and owning your own business?
If you’re in the planning phases of building your own startup, you’ve probably thought about creating a business plan service. And if you haven’t, it’s time!
11 Easy Steps to Your Excellent Startup Business Plan!
A quick search for “startup business plan” will yield dozens of cookie cutter business plan templates. But your idea is anything but cookie cutter. To help you develop your unique business plan, we’ve put together a guide to the 11 most important sections to include.
The Executive Summary: This sounds intimidating, but it’s just a simple summary of the elements of your startup! What is your business? What are your goals?
The Company Outline: A quick introduction of your business concept and brand. This section can be customized to your audience. Lenders, investors, and potential partners will all want to know different things about your company.
The Industry Analysis: Use this section to give your audience a description of your industry and how your startup will fit into it. Writing this section will give you a way to create long-term strategies for minimizing risks common in your field.
The Competition Analysis: Here is where you’re going to examine your direct competition. Lay out their product or service, financials, and how you compare. Don’t forget to mention how you plan to stay competitive. Be specific!
The Goals and Strategies: In this section, you’ll analyze the market your startup is in. Include your target audience and explain how your service or product fits into that market. This part of creating a business plan will require extensive research. If you need help, looking into a professional business plan consultant isn’t a bad idea!
The Services/Products: This section may seem self explanatory, however, there are some points you’ll want to keep in mind. Make sure you can show potential investors and lenders how your product or service meets the needs of your customers in a different or better way than that of your competition.
The Sales and Marketing Strategy: This is all about how you plan to reach your target audience and drive sales in your startup! Here you’ll want to provide concrete strategies and sales forecasts. Always be realistic with your numbers. This section may sound overwhelming, but creating a business plan is simpler with the right help!
The Management and Organization: This is an important part of creating a business plan because it lets your audience know that the members of your team can competently run your startup. Here you will present your management and employee lineup, along with resumes and any applicable experiences. Keep things to the point and avoid too much personal information.
The Operations Section: This section is straightforward – just explain the day-to-day running of your business. Shipping, distribution, manufacturing, or how your services are completed. Include things like ordering information and suppliers.
The Financial Requirements: If you’re creating a business plan with the intent of attracting investors or convincing lenders to give you startup funds, you’ll need this section. Include how much you’ll need to startup and how you plan to use those funds. You should also be able to show, with financial forecasts, when an investor should expect to make his/her money back and how much proposed profit the investor will receive.
The Extras: This section should include any documentation that supports the validity and viability of your startup. Provide documents that prove you’ve already gotten a start – this is called traction. Some examples include items like lease agreements, licences, receipts, and letters of intent from suppliers and manufacturers.
Ready to launch your startup? Bargain Business Plan can help make your dream a reality.
Creating a business plan takes time, careful thought , and serious research. Objectivity is important too! Understanding your businesses strengths and weaknesses can save you a lot of stress and struggle in the long run.Business Plan Experts – Worlds top business planning firm. BPlan Experts provide comprehensive business plan consulting to startups and entrepreneurs.
At Bargain Business Plan, we work WITH you to make your startup idea a reality. Together, we’ll craft a professional startup business plan to give you a roadmap for business success. With this living document (we provide revisions!) you’ll be able to run your business, attract investors, and expand with more ease and fewer complications than your competitors.
Your brand deserves a custom business plan! Contact us today for a free consultation.