Business Plan Framework

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A good business plan will present a clear comparison of your business to your direct and indirect competitors.

You’ll need to show that you know their strengths and weaknesses and you know how your business will stack up.

If you have a board of directors, you’ll need to identify the members.

If you didn’t incorporate enough facts about your products and services into your company description (since that section is meant to be an overview), it might be a good idea to include extra information about them in a separate section.

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.Your executive summary should appear first in your business plan.It should summarize what you expect your business to accomplish.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.A business plan is a formal written document containing business goals, the methods on how these goals can be attained, and the time frame within which these goals need to be achieved.It also describes the nature of the business, background information on the organization, the organization's financial projections, and the strategies it intends to implement to achieve the stated targets.If you’re trying to apply for a personal loan or a small business loan, you can always add an appendix or another section that provides additional financial or background information.Every company is different so your business plan might look nothing like another entrepreneur’s.In that section, you’ll need to use data and statistics to talk about where the market has been, where it’s expected to go and how your company will fit into it.In addition, you’ll have to provide details about the consumers you’ll be marketing to, such as their income levels.


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