Free Sample Business Plans
This section details exactly how well the current market in your company's business field is doing, including major and minor concerns that could affect your ability to achieve your sales and income goals.
The section starts with an overview of the market your company targets (demographics) as well as industry analysis of what types of businesses typically exist within that marketplace and known participants who are your main source of competition within that industry.
Put simply, a business plan is an outline of goals and the steps needed to achieve them, and while not all businesses require a formal business plan, composing a business plan, in general, is an essential step to starting your own business as it lays out what you plan to do to get your business off the ground.
All business plans—even informal outlines—require several key components including an executive summary (including objectives and keys to success), a company summary (including ownership and history), a products and services section, a market analysis section, and a strategy and implementation section.
The introduction to this section should contain a high-level view of the strategy and their implementation including bulleted or numbered lists of objectives and the viable steps that can be taken in order to achieve them.The objectives, mission statement, and "keys to success" are also principal components of this first section as they will outline achievable, concrete goals that the company plans to achieve through its business model.Whether you're stating "we'll increase sales by more than million by the third year" or saying "we'll improve inventory turnover to six turns next year," these goals and missions should be quantifiable and attainable.If you’ve ever thought about starting a business and written down a few ideas about your business strategy on the back of a napkin, you’ve written a business plan.Now, to successfully start and run a business, you’ll need more than a sketch on a napkin.The one page action plan allows you to prepare a summarised overview of the current situation, and assists you to implement the right solutions at the right time to achieve your vision/targets. These can be drawn from your SWOT analysis that you have done earlier.It's also a practical way to record the outcomes of the planning process. Action plans: In this section, list what is to be done. There's no need to put every step into the action plan. These actions can be drawn from the outcomes of your Force Field you completed on your key issues/strategy.Still, you should be as detailed as necessary when composing your business plan as each element can greatly benefit future decisions by outlining clear guidelines for what the company plans to achieve and how it plans to achieve it.The length and content of these plans, then, comes from the type of business you're creating a plan for.After fleshing out the objectives of your business plan, it's time to describe the company itself, starting with a company summary that highlights major accomplishments as well as problem areas that need to be solved.This section also includes a summary of the ownership of the company, which should include any investors or stakeholders as well as owners and people who play a part in management decisions.