Creating A Small Business Plan

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Your small business plan is an essential tool that will help you obtain funding and keep your company on track for future growth.

Be Purposeful in Planning Business plans have two purposes.

When you start a small business, you likely need to obtain funding.

Ask for Money In the funding request section be clear about how much funding you are requesting, the type of funding you are seeking, future funding you may need, terms and time period, and how you will use the funds to grow your company.

Project the Future Your plan should include a funding projections section.It should describe not only what you do, but the need your company fills and how it achieves that.In this section you should show how your company is uniquely positioned to be competitive and successful. What tools and resources does your company have that position you to achieve your goals?Marketing discusses how you will communicate your message, reach your market, and do distribution.The sales section includes information about your sales team and the sales activities and strategies your company will implement.Show Your Moves When starting a business, you have to have a great product or service, but you’re unlikely to be successful unless you can market and sell your product or service effectively.The marketing and sales portion of your business plan will break this down into two sections.When you create a business plan, the market analysis section of your document should provide an accurate description of the market you are in or will be entering.Narrow your market down to a manageable target and provide information about who your primary customers will be and what distinguishes them.Be truthful but highlight the excellence your company provides.Go to the Market For an investor to fund you, your company has to provide a product or service that is needed in the market.

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