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How to Write a Business Plan

How to Write a Business Plan


Creating a Business Plan Are you interested in starting a business?
Creating a business plan is the most important step you can take toward success. Think of
a business plan like a roadmap. It sets the direction for the early years of your business
and outlines how you plan to make sales and grow revenues. A business plan generally includes six sections.
They are: * an executive summary
* a company overview * market research data
* a description of your products or services * your marketing and sales approach and
* your financial projections Let’s take a closer look at each section. An Executive Summary is the first section
of your plan. Use it to introduce your business and identify your customers. Make a short,
but strong case that explains how you’ll make your business successful. The next section is your Company Description.
Provide a high-level explanation of your business, what it will do, and how it will make money.
Include a mission statement and the location of your business. Identify key employees and
any other qualities that make your business distinctive. Next up is your Market Research. Use this
section to provide detailed information that shows you’ve done your homework and that
you understand your industry and target market. Be sure to include an assessment of your competitors
and any legal requirements impacting your company and industry. The fourth section is a description of your
Products or Services. What are you selling? How will it meet the needs of your customers?
What are its benefits compared to the competition? Answer these questions in detail. And be sure
to note the current development stage of your business. Discuss Marketing and Sales in the fifth section
of your plan. Explain how you’ll identify potential customers. You’ll also need to
include your marketing approach. Provide Financial Projections in the final
section of your business plan. This is important for investors and lenders because it explains
how your business will meet its financial obligations and maintain a positive cash flow
balance. Are you ready to get started? Build your customized
business plan using SBA’s free step-by-step tool. It’ll help you navigate each section
and enter your information. You can even save your plan and finish it later. Print, download,
email and update your plan any time. Try out SBA’s Build Your Business Plan Tool
at sba.gov/business-plan to get started today.

Comments (45)

  1. In order to have a successful business, you need to prepare a proper business plan. You must define your business, understand the needs of your customer and also make sure of all the possible ways of accessibility of products and services for your customers.

  2. Learned how to do this a few years ago and it made a big difference to my business

  3. If you have a good business plan then there is a possibility of receiving very large business opportunities.

  4. This is really helpful for a beginner, and I really like her voice 🙂

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  19. This is very good general information.  Thank you for posting this. 

  20. In this video, the SBA did a great job of laying out the 6 Basic Sections of what goes into a business plan and a brief summary explaining the purpose of each section. What's fantastic is the fact that the SBA provides a FREE Build Your Business Online service that you can access 24 hours per day. This is great for all of you Do-It-Yourselfers! This is a great 2/12 minute high-level overview of what goes into writing a business plan!

  21. Very helpful, thank you

  22. This is a really nice video for understanding how to structure and execute business plans. Thanks for sharing.

  23. Very helpful video. It helped me a lot. Where I can find more useful information on this topic?

  24. Taking advice from the SBA on how to get customers is about as stupid as taking advice from a rapist on how to pick up chicks. THEY THEMSELVES don't depend on customers voluntarily paying for goods or services because THEY get their revenue through forced taxation. Why would anyone listen to these people? Do yourselves a favor, watch channels of successful entrepreneurs. Not government bureaucrats regurgitating common core lesson plans because they can't think for themselves.

  25. Can anyone write an essay for me?

  26. The website has lots of free online courses with very good links. I watched the full 30 mins business plan and went to the links they had provided. Very grateful.

  27. 'Think of your business plan as a road map' , very insightful

  28. Great share. Find it very helpful. Thanks.

  29. Thanks for your tutorial I will practice it… In the mean time I've someone who can write a detailed business plan for you… Contact him using the link below.
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  31. Writing a business plan is a great way to reverse engineer your future success and/or to avoid a potential disaster. Your business plan will give you x-ray vision and allow you to see the potential of your business concept. After you’ve determined the viability of your business idea, the next most important step is to develop a marketing strategy, because nothing moves without it. You could offer the best products and services on the planet, but if none of your prospects know about them, your business will struggle. Just think about how many poorly made products we’ve all purchased because of marketing hype, but turned out to be of poor quality. Of course, you want to ensure that your products and services are of high quality, which is a given. In today’s fierce competition, marketing is the only definitive leverage that we all have left in order to survive and thrive. This is just some food for thought.

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