![]() ![]() This is your opportunity to organize and demonstrate your understanding of this industry and business. Results of any testing conducted so farįor further guidance on this section, you may want to review the piece on Forbes with the title How To Create A Marketing Plan.Target market research (total market size and total addressable market (TAM)).SWOT analysis (Strengths, Weaknesses, Opportunities & Threats).This is also a vital guide for yourself as a founder, and for your growing team as to what needs to be done and how.Įvery minute invested in this section can pay great dividends over the longer term. Even if you hope to just get away with using a pitch deck to raise the capital you need. This holds key information that all financiers and potential investors are going to want to know. This is another section which is an absolute must-have, even if you never develop a fully fledged business plan in its entirety. Anticipated future products and services you hope to develop and roll out.Definition of the core product or service.How are you solving the main problem and are serving the community with your business? List what products and services your company has been formed to create. Location and geographical markets served or where you have a presence.The company purpose, mission and vision.This section provides a further overview of your company now. For additional guidance, you may want to review the Executive Summary Template that I recently covered on Forbes as well. 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. If you never flesh out a full business plan, make sure you create a fantastic executive summary. This is the most critical part of your business planning. The following is adapted from the SCORE Association’s recommended outline of categories, which covers most of the bases for exactly what to include in your business plan. A few minutes on Google will provide plenty of free business plan template options. Especially, with the rapid growth of lean startups. There are many variations of business plans today. ![]() Though, do not let it become a distraction and slow you down from creating an actual business either.įor key insights on the why, when and how to create a business plan, and emerging alternatives for startups versus small businesses, see my Forbes article on How To Create A Business Plan.
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