Another Plan

The importance of planning your business cannot be over emphasized.

By taking an unbiased look at your business, you can identify areas of weaknesses and strengths that you might otherwise overlook.

Planning can mean the difference between your business being successful or your business being a failure.

The idea of a plan is to help keep you mentally focused. In a sense it is sort of like a goal. You write it down, follow it and make changes and updates as needed.

This is so that you can keep everything in proper perspective, because without a step by step business plan, there is no way you can keep your business running successfully, unless you are just a super lucky person... What are the chances of that being true? Not Much.

WritingA business plan is simply the process you'll use to organize your business goals and strategies. It is a written expression of your business ideas.

And, it also provides information needed for others to evaluate your business. A thorough business plan can help if you are seeking assistance from a financial lender.

It will let the lender know that you are serious, and also let them know that you are working and planning for your business to ultimately be successful.

The things you are going to need to include in your business plan are as follows:

Cover Sheet

This page should include your company name, contact information, company logo, company trademark and your copyright notice.

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Table of Contents

Should be one page and it should give details of the content of your business plan.

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Executive Summary

This is summing up the purpose or a brief statement or account covering the substance or main points of your business.

What type of business is it?

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What is your product or service?

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State your company's goals.

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State your company's objectives.

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What is your business history?

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Mission Statement

This is the description of your business. In about a paragraph or less you mention your reason for being in existence.

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Marketing Plan

This is how you plan to market your business. You will need to explain:

How will your company differ from your competitors?

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Who your customers are?

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Who is your market?

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Is it wholesale or retail?

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How long will this market need your product?

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What are the characteristics of your average customer?

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What are the environmental factors of your business?

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Who is your competition?

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What competitive advantage do you have over your competitors?

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What is the best way you plan to sell your product or service?

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