If you can condense your executive summary to one page, that’s great.Tags: Music And Physics EssayEssay My Favourite SubjectInformal Essay About FamilyEssay On Montessori SchoolsLeadership Teamwork EssayGood Thesis Introduction
Your summary should work at a very high level and include the basic outline of what your business will look like on day 1, as well as what it will be on day 1,825.
Your audience wants to know 3 things: who you are, what you do, and how you’ll do it: what industry are you in, what your team will look like, what your initial investment needs to be, and what the ownership structure will look like. To my thinking, this is the most important page; here you will outline the market you will compete, how you will compete, and why you believe your company can succeed; in other words a few paragraphs of analysis of your industry, and the key players, and the current trends. Here you have to answer the most important question, and the one that makes the rest minor in comparison: how will reach profitability and how long will it take?
As you learn more about your business and figure out how your idea is going to work, you’re going to be making lots of changes to your plan, so it’s much better to keep all your ideas on a single page.
Even if you’re not a startup, a one-page business plan can be an extremely helpful tool for documenting your business strategy.
Too many companies spend time focusing on presentation and graphical display of their plans when what they are saying and how they are saying it is really the most critical aspect of your executive summary.
Don’t get me wrong, you don’t want to have an ugly presentation, but focus on the content more than anything else.
“A plan does help to see if investors and entrepreneurs are on the same page with general expectations for the business,” she says.
A business plan serves many purposes, but there is universal consensus on the following when it comes to your business plan: Writing your business plan isn’t busy work or a luxury; it’s a vital part of the process of starting a business and arms you with information you need to know.
A business plan doesn’t need to be complicated, but for it to serve its purpose and set you up for success, it must be clear to whomever is reading your plan that you have a realistic handle on the why and how your business will be a success.
To get you moving in the right direction, here’s a guide on how to write a business plan.