Purpose of The Business Plan/Business Plan Outline
The major purpose of any good business plan is to show lenders or other financial institutions that the business idea is feasible and will show a profit. The business plan will certainly be useful in obtaining capital, finding investors, or applying for a loan. The plan should assure investors that the owner is professional, and organized. These are the traits of any successful business owner. Interested parties should be able to scan the plan and see where the business owner wants to take the company, what short term and long term goals
According to the (SBA) Small Business Administration, an effective business plan should contain:
- A resume of the owners education, skills, background.
- A description of the product, services
- An analysis of the current marketplace situation;
- Foreseen problems and opportunities facing the company;
- A market analysis showing your targeted customers.
- Realistic goals relating to sales, market share and profits.
- A statement on marketing strategy.
-A detailed plan for carrying out your marketing strategies.
-Budgets and projected profit and loss statements;
- Financial Planning.
In conclusion, the content of your business plan is crucial to your overall success. It will determine how well you manage, plan, and reach your projected goals. Plus, convince interested third parties to invest in your business venture. Business owners often discover that a solid business plan is quite useful even when their business is well established and they are seeking further financing or in convincing stock holders they
are a sound profitable company.