Since it’s meant to highlight what you intend to discuss in the rest of the plan, the Small Business Administration suggests that you write this section last. It reveals the company’s mission statement, along with a short description of its products and services.
It might also be a good idea to briefly explain why you’re starting your company and include details about your experience in the industry you’re entering.
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In your business plan, it’s important to describe how you intend to get your products and services in front of potential clients. As you pinpoint the steps you’re going to take to promote your products, you’ll need to mention the budget you’ll need to implement your strategies.
Related Article: How Turning a Hobby Into a Business Affects Your Taxes How will you sell the products you’re building?That’s the most important question you’ll answer when you discuss your sales strategy. It’s a good idea to throw in the number of sales reps you’re planning to hire and how you’ll go about finding them and bringing them on board. If you need funding, you can devote an entire section to talking about the amount of money you need and how you plan to use the capital you’re trying to raise.If you’ll need extra cash in a year or two to complete a certain project, that’s something that’s important to disclose.Related Article: 15 Ways Startups Can Raise Capital Following your market analysis, your business plan will outline the way that your organization will be set up.You’ll introduce your company managers and summarize their skills and primary job responsibilities.If you’re trying to apply for a personal loan or a small business loan, you can always add an appendix or another section that provides additional financial or background information.Every company is different so your business plan might look nothing like another entrepreneur’s.Whether you’re planning to open a shop that makes the best coffee around or you want to sell eco-friendly office supplies, you’ll need to explain why your business is necessary and how it’ll differ from its competitors. It provides investors, lenders and potential partners with an understanding of your company’s structure and its goals.If you’re trying to create one, check out 10 key components of a business plan.If you want to, you can create a diagram that maps out your chain of command.Don’t forget to indicate whether your business will operate as a partnership, a sole proprietorship or a business with a different ownership structure.