business plan pdf

business plan pdf

Developing a Successful Business Plan

1. Introduction

The introduction to a business plan is a crucial piece to the structure of the rest of the plan. Many people are not aware of how important the introduction is and fail to create a good introduction to their plan. The introduction to a business plan describes in a general sense what the business is and where you expect it to go. You will be describing your business and the purpose of your business plan. The introduction will consist of the following elements: 1. Business name 2. Vision statement 3. Vision of the future. As for the first element, it may seem a little simple and not worth the extra section in the introduction. However, it is always best to have your business well defined whenever you are starting anything. A vision statement can help to keep the vision of your business clear. This will be especially helpful if you are creating the business plan for the first time or if you are reviewing your vision for a business that you have already launched. Any business should have a well-defined vision statement. Customers will always identify more with a business that has a clear vision. A vision statement should just be a few sentences and describes what your business does, for whom, and what sets it apart from others. Don’t worry about getting your vision statement perfect the first time. It will almost certainly change as your business changes. Remember to make sure that all of the components of the vision statement are consistent with each other and with the business’ goals. Vision statements are static and timeless. Vision statements should also be in a positive tone and should be uplifting to anyone who reads it – this includes the business’ board members and employees.

2. Executive Summary

It is at this time that it is most effective for the person who created the plan to convey the plan’s merits and demonstrate full comprehension and command of the plan and the business. The executive summary represents the ultimate in planning control. Changes in scale, sequence, or time can be used to alter the recommended course of action if the executive sees favorable resulting differences. The executive can also use the plan to assign tasks and objectives to employees, and by tracking the accomplishment of these assignments, the executive can appraise the effectiveness of the employee and recommend further employment or training as indicated. Finally, when taken to its logical conclusion, the plan provides the material for a comparison of actual results to planned results, allowing the executive to recommend changes that will lead to desired outcomes or abandon/alter goals that have proved to be unattainable.

Business today is pervaded with intense uncertainty and risk. Planning for the unknown is a necessity for reaching company goals and prevailing in the marketplace. In providing a vehicle for preparing for the future, the business plan is a potent tool for both the new and the established company. The executive summary is a crucial aspect of the business plan and is arguably the most important section. Summarizing the entire plan in its essence, it is a vital tool for convincing others of a business’s potential for success. As such, it should be completed last and is a summary of the detail contained within the plan.

3. Market Analysis

3. How loyal are customers to existing services or products similar to yours? – What would it take for customers to switch from what they are currently using? – Is there any current change in customer loyalty, or a trend to be more or less reliable?

2. In assessing price, what and how much are customers currently paying? – If this is a new type of product, what do customers currently use as an alternative? – Price comparison with competition.

II. Customers 1. What are the reasons behind customer choices? – What are the clients trying to achieve with the purchase of your services or products? – What are the underlying factors that can result in a different purchase? (e.g. impulse buying, trying to please someone else, following a trend, or attempting to replace something that was lost or broken)

4. Do a competitive overview. – Who are your eight most important competitors? – What are their strengths and weaknesses? – What are the threats and opportunities from each of these competitors and potential future competition?

3. What are the Market Trends? – Description of significant social changes and trends in the given target market. – Assessment of technological advances that affect your industry. – What are the laws and rules that affect your business? – Analysis of what is happening within the target marketplace?

2. How many clients are there? – Increase in the population of the target marketplace. – How much consumers spend on your business.

I. Target Market 1. Who is your client? – What are the demographics of your clients? – What is the geographic area of your business? – What are the psychographics of your clients?

Market analysis related to including research on the target market (see I) and the right customers to purchase your product, an investigation into the opposition (together with an amazing evaluation), and desirable laws and rules, accompanied by an assessment of your company’s capacity to be triumphant.

4. Business Strategy

Fragmentation and inefficiency plague the current internet advertising hub. This provides a better and more targeted medium for advertisers seeking to reach customers, content providers, and web publishers looking to monetize their targeted traffic, and the broader internet user searching for relevant products or information. By developing and retaining the critical mass of internet and non-internet SNP, it will directly connect the internet user and its demography (SNP) to targeted content as determined by any given advertiser. This concept is executed by integrating an SNP toolbar within the content’s application, enabling the user to receive targeted products or information while only making a cursory change of his internet destination. This toolbar is the launching pad for the second phase of the business strategy, targeted to both content providers and advertisers alike. The SNP interface, under the direction of its proprietary network, customizes the presented advertiser to product to what it has determined to be only that particular content’s most relevant demographic. Placement of a given advertiser to product will be administered through a dynamic auction between qualified advertisers vying for particular product placement in relation to specific demographics. This provides an opportunity for smaller companies to enter the online marketplace and to cost-effectively access specific desired internet user base compared to current practices of mass product exposure, which usually costs the same companies money. Coming full circle in the business strategy, the higher success and cost-effective rate of an advertiser acquiring customers will be driven by the incentive of the attained revenue cost from the increased targeted product sales. Phase three is for the evolution of the SNP marketer. An increasing number of both people and organizations are retaining home and part-time jobs in which they carry on word of mouth advertising or make some commission from product sales. A concept and interface mirroring that of a given content provider will generate an automatic demographic inference of both the products that specific marketer is trying to advertise and the people whom he knows to be potential customers. The SNP will then offer the marketer the opportunity to put the product on the advertised content and possibly a specific demo targeted given some product placement an auction similar to that of an advertiser, providing a cost-effective medium for the product in which the. Outriders and incentives are expected to answer whether the ride is an advertisement as a tie to a specific product or sales in sync with the product by its then potential customers. Due to gated content, recall the particulate demographic the campaign and or product sales in any given case will seek to a higher revenue than normal, commensurate with the marketer. The remote opportunity to a specific revenue rate way to any given job will make the most recent past an episode, a job change, or product to any given result. This advance in SNP will bring a new age to online product sales and affiliate marketing. The marketers are enjoying higher incentive wages and can seek to provide hardship incurred by lost work.

5. Financial Projections

Expected profit and loss is a projection of how you expect your business to perform financially. It is a forecast of revenue and expected expenses over a given period, for example, a month or a year. During this process, you develop an anticipated income statement or profit and loss statement. It is important to be realistic. A business plan used to obtain a loan that contains overly optimistic revenue forecasts may win the loan, but will lose credibility with lenders and investors. A plan with a conservative forecast, that may not get the loan, will raise credibility.

Expected profit and loss

An estimate of start-up costs for cash and for the profit and loss (P&L) account should be compiled in order to analyze what the finance will be used for and keep track of the costs. This can be achieved by making a simple worksheet.

– Cost of start-up inventory. – Cost of renting a location, including down payment and rental deposit. – Leasehold improvements, such as construction and remodeling. – Cost for acquiring an already existing business. – Cost of an initial advertising marketing campaign. – Staffing costs for periods before business openings. – Business costs, such as stationery and business cards.

Your business plan should contain a detailed estimation of your start-up costs. Start-up costs are costs that occur before the start of business. Business start-up costs may include:

Estimate of start-up costs