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You always want to provide company information, that is, discuss your business background. Who is management team and what experience do they have? Discuss primary responsibilities of individuals in management team. This is important because you want reader to be aware of who is leading operation, and what their background is. Internally this helps promote respect for those in senior level positions, and investors feel more comfortable having a better understanding of who they are investing in.
The next area should focus on marketing and sales activities. What is your Sales Strategy? What are keys to success in your competitive environment? Sales, or activity of selling, is an integral part of commercial activity. Mastering sales is considered by many as some sort of persuading "art". What is your Market Strategy? Marketing starts with market research, in which needs and attitudes and competitors' products are assessed, and continues through into advertising, promotion, distribution, and, where applicable, customer servicing and repair, packaging, and sales and distribution.
Now we move on to products and services What are major milestones for your product or service? What are ongoing efforts regarding your product or service? You need describe your products or services to reader in a clear manner.
Any good plan has a great deal of focus placed on its financial data. Finance addresses ways in which individuals, business entities and other organizations allocate and use monetary resources over time. What are funds required and their use? Give a historical financial summary. Give a prospective financial summary, which will include a brief justification for your prospective sales levels. Focus on realistic predictions, investors will dismiss any plan that seems to have inflated numbers. You must do accurate market research in order to offer realistic figures.
Putting all these tools together and continually revising your business plan will give you a great advantage. For a more detailed look into developing a business plan, read part two of this article as we discuss implementing an organizational plan.
www.MotivatedEntrepreneur.com Copyright 2005
Ryan Hoback is Founder and President of Motivated Entrepreneur Business INcubation and Consulting. Mr. Hoback help entrepreneurs startand grow their businesses.