Include: In this section you may also be including startup cost and capitalization requirements, or funding and loan requests.
Startup costs should be thorough, have some additional cushion built in, and focus on development of physical product or intellectual property and growth. If fundraising, be sure to include a repayment schedule for any loans, use of funds, runway to follow up fundraising rounds, and the milestones you expect to achieve by then.
Creating a business plan is a key part of starting any business venture.
Even if you’ll never use it in this format for attracting investors and raising capital, it can be vital for helping all entrepreneurs to ask and think through essential questions.
Every minute invested in this section can pay great dividends over the longer term.
Include: For further guidance on this section, you may want to review the piece on Forbes with the title How To Create A Marketing Plan. Operational Plan This is your opportunity to organize and demonstrate your understanding of this industry and business.
For additional guidance, you may want to review the Executive Summary Template that I recently covered on Forbes as well.
Company Description This section provides a further overview of your company now.
If you never flesh out a full business plan, make sure you create a fantastic executive summary.
This brings together all of the key elements of your plan and will often be the make or break document which decides whether commercial lenders or investors will have any interest in seeing the rest of your documentation or pursuing a relationship with you.