Business Plan Components
Cover Sheet: The cover sheet has various formats but should contain the name of the business, who is presenting it or point of contact, the financial institution or group you are presenting it to, and the date. If you have one, include any fax number or website. Table of Content: This is a listing of where to find components of your Business Plan by page number. Executive Summary: This is a short summary of no more than one page that highlights the most important areas of the business. Emphasis is placed only on the key elements of the business. Mission Statement: This sets the tone of your business. State your company values, the product and/or services of your company, the uniqueness of your company, and its objectives. Company Description: This is a brief factual depiction of your company. Competition Analysis: Lists your major competitors. State how you can compete and why your services are needed. Mention major differences that will give you an edge in the marketplace. Economic Analysis: An assessment of the current and projected state of the local, state, and national economic conditions, and how it may help or hurt business. What are the internal and external threats to the industry, determine if the conditions are seasonal. Marketing Analysis: A close investigative research into the area or markets that you intend to service or sell products. This includes growth rates, customer demographics, information about competitors, and is used in conjunction with your marketing plan. Operations Plan: At a minimum, this part of your Business Plan should list the location and any facilities, the benefits of the location. It should contain the methods used to succeed, any cost saving processes, and all quality control processes in place or to be implemented. Equipment, inventory, distribution methods, customer service, and financial controls are to be addressed in this component. Keep these simple, direct and to the point as this is not a training or operations manual. Management Team: This area identifies the key members in your organization, their position, and qualifications to help make the company a success. Advisors can also be entered in this area, such as members of SCORE, a CPA, etc. Financial Analysis: These are your projections on revenue (be conservative), expenses, and profits and losses. The basics are statements on the Balance Sheet, a Profit and Loss (P&L) Statement, and a Cash Flow Statement. These are critical, so be prepared to defend your projections and expectations. Milestones & Summary: Defines your long and short-term goals, and when you plan to reach these critical points in order to succeed. Appendix: Additional documentation that supports the components of the business plan.
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