Business Plan

The first step to planning for your new business is to begin writing your business plan. While the plan itself may not be fully fleshed out, the framework will give you an idea of the components you still need to fulfill.

A good place to start, is to utilize the U.S. Small Business Administration's Business Guide, which provides tips on:

These tools will help you to define the components of your business plan, and identify how to fill in the gaps. A good hierarchy for a business plan should include:

Executive Summary

  • Snapshot of business, and components you will expand upon within your plan

Company and Description

  • What you do, how you're business is different, markets your business will serve

Market Analysis

  • Industry research, competitors, and differentiation within market segment

Organization & Management

  • Sole Proprietorship, Limited Liability Company, Cooperative, Corporation, Partnership, S Corporation

Service/Product Line

  • What you sell, offer, or do; how your product/service is different than other similar products/services already on the market

Marketing & Sales

  • How you plan to market your product/service; sales strategy and ongoing promotion

Funding Request

  • Loans, grants, partners; outline how you'll use the funding if awarded and how you'll seek to repay or match what is receiverd

Financial Projections

  • What will it cost to start your business, what are your revenues and expenses

Appendices

  • Accompanying plans, methods, and details of your businesses team, existing research, and analyses