Greenfield News


Date ArticleType
6/2/2020 Community
Business Plan

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.