Write a detailed outline (like the one below) of your business plan. Organization is important.
Outlines will vary based on the type of venture. A basic outline of the proposed business plan would include the following:
Name of the business
Address and phone number
Issue date of plan
Table of Contents
Reason for the firm’s establishment
Products or Services
Different from those currently on the market
Other uses for the product
Drawings or photos, if appropriate
Patents or trademarks
Potential for growth
Manage the product or service through the product life cycle
Expand the product line or develop related products
Outline interrelationship and timing of major events planned for your venture
Timing of objectives should be realistic and attainable
Benefits to the Community
Exit Strategy (How and how long before you and your investors will exit the business and get back your investments?)
Who will succeed you in the business?
Will the business be sold?
Sources and uses of capital (initial and projected)
3-year projections of:
Cash flow statements
Profit and loss statements
Break even analysis
Conclusions and important points:
Discussion of how much equity and how much debt are included
Highest amount of cash needed
Expected payback period for loans
Part 1 Tasks (Objectives from Weeks 1–4)
Finalize your business plan, and include the following:
Part 2 Tasks (Objectives from Week 5)
Create a memo introducing yourself and your business plan to a prospective resource. Be sure to use the following steps:
Introduce yourself and your venture.
Explain your purpose in sending the business plan.
Detail the next steps and the potential for your business.
Give the intended audience reasons for taking interest in your venture.