A Business Plan is an important document for your business. It needs to be written by you. You need to know who is your customer before you start. The Business Plan is your roadmap to guide your business venture. The major sections of every business plan are: Company Description, Products & Services, Marketing Plan, Daily Operations, Management & Organization, Personal Finances, Startup Costs & Capitalization, Financial Plan.
Do the Marketing section first. It will describe the customer, the market you are in, the size of your projected market share. the competition, the marketplace and how you will deliver your product or service.
The Financial Plan is also an important section of the Business Plan. This has your sales forecast, projected income statement, projected cash flow statement, and projected balance sheet. An EXCEL spreadsheet is available in the Template & Tools called "Financial Projection Model" and is also one of the workshops frequently presented by the Salem SCORE Chapter.
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