Business Plan Appendices

Business Plan Appendices-46
Although the executive summary is the first section of the plan, you should write it last.This section should briefly but clearly describe what your business is all about.Implementing good environmental and social practices is good business — it can give you a competitive advantage and help foster goodwill toward your business.

Although the executive summary is the first section of the plan, you should write it last.This section should briefly but clearly describe what your business is all about.Implementing good environmental and social practices is good business — it can give you a competitive advantage and help foster goodwill toward your business.

This segment should include the following elements: This section should give readers a very brief overview of your business — where you've been, where you are now, and where you're going in the future.

Include: Your marketing strategy should also include information about your budget — how much money have you budgeted for marketing and sales costs?

Investors need to know that you and your employees have the necessary balance of skills, drive and experience to enable your business to succeed.

It is also advisable to outline any recruitment or training plans, including timelines and costs.

You may want to include information about: Effectively using information technology is an important part of managing a business.

In this section, you should outline how you plan to use internet technologies to reach customers, manage your business, and reduce costs.Your business plan should outline your current operational requirements as well as your projected requirements for the next 3 to 5 years.Your inventory management and accounting systems should have the ability to produce up-to-date reports.Keep in mind that solid market research is the backbone of an effective marketing strategy.You will want to back up your statements with facts — explain how you reached your conclusions and include statistics from reliable sources.Although business plans vary in terms of length and scope, all successful business plans contain common elements.The plan should take into consideration your particular business and its environment.You may also want to include a profile of your "ideal customers".You can create profiles based on customer type — consumers, retailers, or wholesalers — or base your segments on demographic information such as age, location, and income level.Banks and other lenders understand that businesses will encounter difficulties at some point, and want to know how you will deal with these challenges.Remember that overestimating strengths and opportunities or ignoring potential problems will undermine your credibility.

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