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Provide evidence that your company offers a product or service that serves as a solution to a problem identified by your target market.Information regarding service or product costs, suppliers and any new services which may be added should be included in this part.A crucial document in securing funding from creditors and investors, the business plan should be well organized with a focus on specific strengths that set your business apart from the competition. In the simplest of terms, that is how you start a business and then run like crazy to not only cross the finish line, but win the race.
Any factors which directly impact your ability to repay your loan should be included, such as acquisitions, sale of the business in future or a buyout.Both past financial data as well as prospective financial data will be required by potential lenders.Include the following financial statements for the past three to five years; cash flow statements, balance sheets and income statements. Amidst that rush, the idea of writing a business plan—much less following a business plan template—often feels time-consuming and intimidating. It’s more than the old cliche, “A failure to plan is a plan to fail.” In fact, a wealth of data now exists on the difference a written business plan makes.Even better—if you’re pressed for time—we’ve compiled the 10 steps and examples into a downloadable (PDF) template: But, first things first …Details about ownership of company, management and board of directors (if applicable).Qualifications, experience and education are important to provide readers with an insight as to how these individuals fit into the organizational structure and what they can bring to the table in their designated roles.Sales strategies should also be included to provide information on sales staff and activities.Describe to readers what you are selling and how the product or service will benefit current and potential customers.Nevertheless, it is vital to the success of your business.A business plan details every aspect of business operations.