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6/2/2020 |
Community |
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Business Plan |
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When was the last time you pulled your business plan off the shelf and reviewed it? Your business plan is a living document and should be updated regularly.
Elements of a strong business plan should include: - Executive Summary – providing a snapshot of your company; explaining who you are, what you do and why!
- Business Description and Vision – your mission statement & company vision; business goals & objectives; brief history of the business & a list of key company principals
- Definition of the Market – describe your business industry and outlook; identify your target market; provide a general profile of your targeted clients & describe what share of the market you currently have
- Description of Products & Services – describe all your products & services, include a photo of the products
- Organization & Management – provide a description of how your company is organized
- Marketing & Sales Strategy – identify & describe your market & what is your sales strategy
- Financial Management – whether you are a new business or existing business, you should include a balance sheet; income statement(s) and cash flow statement(s)
Visit the Small Business Administration for more information. www.sba.gov
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