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Let's revisit the typical structure of a business plan:1- Cover Page and Table of Contents Not a lot to add here.2- Executive Summary The Executive Summary is usually a one-page summary of the contents of the business plan; as I mentioned above, some business plans only consist of this section.3- Mission and Vision Statement A mission statement summarizes a company's purpose in one or two paragraphs: why it exists.6- Competitor Analysis Very much related to the SWOT Analysis mentioned above, the competitor analysis should provide a more personal review of what the company is doing, their traction and state and how the company intends to differentiate.
The presentation template above is a business plan template in the form of a slide deck.
There is some disambiguation about what a business plan is, when is it needed and how long should it be, but we'll try to clarify some of these questions in this article. There is consensus over the concept of Business Plan representing a formal, written statement of the goals of a new venture, and an overview of the original strategy that will be followed to achieve them.
After analyzing the market and understanding trends, customers, competitors, and pitfalls, you will be able to formulate a strategy that best fits your business. Investors only put their money in places where they are sure to expect returns.
With this strategy, you are able to focus your efforts on your goals, prioritize tasks, pinpoint the best options, and work out the details. They want to be certain that your business will be profitable.
You will have a broader view of how to navigate the challenges of being a small business owner so you can be prepared no matter what comes your way. Therefore, you need to present to them a business plan that will show them just how you're going to achieve growth.
Aside from market analysis and strategy formulation, you will also need to plan your finances. You should be able to present your ideas in an organized manner so that they can understand your strategy as a small business owner.
8- Marketing Plan or Go-To-Market Plan Defining a marketing strategy early on is very hard, but it's important to note the first and second plans the company intends to experiment with.
Summarize two or three core customer acquisition and growth strategies and a basic overview of how you plan to implement them. 10- Financial Plan The financial plan should be a detailed 12 month projection of the business cash flow, and a simpler 4-5 year projection.
As a small business owner, your focus must always be towards growth, and you can only grow as a business by having a clear plan with a specific set of objectives that you hope to achieve in the coming years.
You should not neglect the importance of a business plan and how you can best present it to clients and potential investors.