Business Planning Outline

Whether you’re planning to open a shop that makes the best coffee around or you want to sell eco-friendly office supplies, you’ll need to explain why your business is necessary and how it’ll differ from its competitors. It provides investors, lenders and potential partners with an understanding of your company’s structure and its goals.

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If you want to, you can create a diagram that maps out your chain of command.

Don’t forget to indicate whether your business will operate as a partnership, a sole proprietorship or a business with a different ownership structure.

Since it’s meant to highlight what you intend to discuss in the rest of the plan, the Small Business Administration suggests that you write this section last. It reveals the company’s mission statement, along with a short description of its products and services.

It might also be a good idea to briefly explain why you’re starting your company and include details about your experience in the industry you’re entering.

In your business plan, it’s important to describe how you intend to get your products and services in front of potential clients. As you pinpoint the steps you’re going to take to promote your products, you’ll need to mention the budget you’ll need to implement your strategies.

Related Article: How Turning a Hobby Into a Business Affects Your Taxes How will you sell the products you’re building?

Whoever’s reading this portion of your business plan should know exactly what you’re planning to create and sell, how long your products are supposed to last and how they’ll meet an existing need. If you know how much it’ll cost to make your products and how much money you’re hoping to bring in, those are great details to add.

You’ll need to list anything related to patents and copyright concerns as well.

Related Article: 15 Ways Startups Can Raise Capital Following your market analysis, your business plan will outline the way that your organization will be set up.

You’ll introduce your company managers and summarize their skills and primary job responsibilities.