How to Establish a Business Plan

Create a business plan for your business.

Business plans are useful for new businesses, businesses that need funding and business owners who want to monitor the growth and progress of their business. Business plans can also be used by firms in order to recruit new employees. According to Entrepreneur, a general business plan can be anywhere from fifteen to twenty pages long. Main categories of a business plan include the description of your business, marketing plan, development plan, management plan and financial plan for your business.

Things You'll Need

• Computer
• Financial Statements
• Pen
• Paper

Instructions

1. Create the cover sheet for your business plan. On the cover sheet, include your business name, logo, phone number, address, and the date your business plan was made. Every time you update or add to your business plan, make sure to change the date to reflect your updates.

2. Make a table of contents for your business plan. Number your table of contents with roman numerals, where each page uses a roman numeral. Pages you should include in your table of contents are Executive Summary, Mission Statement, Business Description, Management Plan, Business Market, Sales and Marketing Strategy, Business Status and Financial Statements.

3. Create your business plan's mission statement in fewer than 30 words. Describe the purpose of your business. Follow the mission statement with your business description. Describe the industry of your business, your business location, any customer services and products for sale.

4. Describe who owns the business and employees the business has on the Management page. Also include any mentors who helped the business get started and advisers who contribute to your business's growth.

5. Create your Market page and discuss what types of customers your business attracts along with which companies compete against your business. Follow the Market page with your Marketing Strategy page, describing your business objective, how you plan to market your business and any promotional strategies you plan to use.

6. Make your Business Status page and describe any accomplishments your business has. Moreover, include the goals of your business and how you plan to achieve these goals. Follow the Business Status page with the Financial Statements page. Determine how much money you want to spend on your business, any equipment you will need for your business, the price of the equipment you need to buy and your account balance presently.

7. Write the executive summary for your business plan. Executive summaries inspire readers to continue reading your business plan and should be no longer than two pages. Describe the history and objectives of your business as well as a short description of what your business has to offer customers. The executive summary should also include your business's niche, how your business will grow as a whole and financially, who manages your business, the funding requirements to get your business started and what this funding is going to be used for.

References

• Entrepreneur: Business Plans
• Va-interactive.com: Developing a Business Plan
• Experienced People: Business Plans

Resources

• Small Business Administration: Manage Your Business from Start to Finish