A Note on Small Business Solution

A small business plan should prove that your business will generate enough revenue to cover your expenses and make a satisfactory return for bankers or investors. Executive Summary–features the highlights of your plan and sells your idea in two pages or less. Company Summary–a factual description of your company, ownership, and history.

Products (or Services or both)–describes your products and/or services and how they stand out from competitive products and services. Market Analysis-provides a summary of your typical customers, competitive landscape, market size, and expected market growth. Strategy and Implementation-describes how you will sell your product, how you will put your plan into action, and establishes milestones. Management Summary-provides background on the management team, their experiences, and key accomplishments. Financial Plan-contains key financials including sales, cash flow, and profits.

What makes a successful business plan?
-A well thought out idea
-Clear and concise writing
-A clear and logical structure
-Illustrates management’s ability to make the business a success
-Shows profitability

How do you write a business plan?
Sitting down looking at a blank computer screen as you prepare to start your business plan can be daunting. You may want to look at some alternatives that will make the process a bit easier.
Hire a Professional – A professional consultant will create the business plan for you, but you still have to be prepared to think through your business and understand the underlying concepts in your business idea. You will have to work closely with the consultant to ensure that he or she develops a good plan that accurately represents your business or business idea.
Buy a Book – There are many good books on the market that will help you to understand what needs to go into a good business plan. You can read Timothy Berry’s “Hurdle: the Book on Business Planning”.
Use Business Planning Software – A good business planning software package will provide you with an outline for a well-developed, objective-based and professional business plan. Software packages will remove the problem of starting from scratch by structuring your plan for you. The software should ask you the right questions that will pull out the most important underlying concepts within your business idea.