Business Plan Highlights

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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.

Your executive summary should appear first in your business plan.

It should summarize what you expect your business to accomplish.

The next section that should appear in your business plan is a company description.

It’s best to include key information about your business, your goals and the customers you plan to serve.If you have a board of directors, you’ll need to identify the members.If you didn’t incorporate enough facts about your products and services into your company description (since that section is meant to be an overview), it might be a good idea to include extra information about them in a separate section.But there are key components that every good plan needs to have, and it’s always a good idea to provide a clear and accurate summary of your business goals in your business plan.Update: If you’re looking for added professional advice to give your business an edge, check out Smart Asset’s Smart Advisor matching tool to get paired with a financial expert who can strategize with you based on your particular needs.In that section, you’ll need to use data and statistics to talk about where the market has been, where it’s expected to go and how your company will fit into it.In addition, you’ll have to provide details about the consumers you’ll be marketing to, such as their income levels.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.A good business plan will present a clear comparison of your business to your direct and indirect competitors.You’ll need to show that you know their strengths and weaknesses and you know how your business will stack up.

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