THE CORE COMPONENTS OF YOUR BUSINESS PLAN
- EXECUTIVE SUMMARY
Leave space for the Executive Summary at the beginning of the document but do not complete until the full plan has been written.
The executive summary should include the key points of your plan including target markets, high level forecasts and key dates.
For examples of how to write an executive summary visiting bplans.com: sbbc.co/executivesum
- IDENTIFY OPPORTUNITIES
Describe the unique selling points (USPs) of the product or service and your vision for the business. Provide context to your description: Remember that the reader will not know you therefore write clearly and concisely without acronyms and jargon.
- MARKET RESEARCH
Outline who your customers are, who your competitors are, and any current or future trends which will affect your market.
Do not recreate data. Provide your analysis of material and how it would affect the business sector.
Include information on the expected demand for your product or service, explaining how and why you have come to those assumptions.
Need help? Small Business BC Market Research Advisory Services: http://smallbusinessbc.ca/services/market-research-services/
Upcoming market research seminars: http://www.smallbusinessbc.ca/seminars
- MARKETING AND SALES
Outline how you plan to reach out and sell to that market.
For tips on how to create a great marketing plan please visit sbbc.co/marketingsalescontent.
- YOUR TEAM
Include biographies of key people in your business, a brief organizational chart and job description.
For help defining your key staff visit the Info Entrepreneurs website: sbbc.co/developyourteam
- FINANCIAL FORECASTS
Include cash flow statements, profit and loss forecasts, and sales forecasts.
For an explanation on how to create a budget and sales forecast, visit Canada Businesss at sbbc.co/budgetforecasting.
- IMPLEMENTATION PLAN
List estimated dates of completion for different aspects of your business plan with targets for your business and milestones.
Include all licenses, permits, agreements, existing contracts and any additional documents that support your business plan.
*Source – Small Business BC | Tel: 604-775-5525 | 1-800-667-2272 | Email: firstname.lastname@example.org | Web: smallbusinessbc.ca 09/2016
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