12-13

Cards (19)

  • Business plan is a written document that describes in detail how a business usually a start-up - defines its objectives and how it is to go about achieving its goals.
  • BUSINESS lays out a written roadmap for the firm from each of a marketing, financial, and operational standpoint.
  • Executive Summary
    This section outlines the company and includes the mission statement along with any information about the company's leadership, employees, operations, and location
  • The company can outline the products and services it will offer, and may also include pricing, product lifespan, and benefits to the consumer
  • Market Analysis
    A firm needs a good handle of the industry as well as its target market. It will outline who the competition is and how it factors in the industry, along with its strengths and weaknesses. It will also describe the expected consumer demand.
  • Marketing Strategy
    This area describes how the company will attract and keep its customer base and how it intends to reach the consumer.
  • Financial Planning
    Financial statements, balance sheets, and other financial information may be included for already-established businesses.
  • Financial Planning
    New businesses will instead include targets and estimates for the first few years of the business and any potential investors.
  • Budget
    Any good company needs to have a budget in place. This includes costs related to staffing, development, manufacturing, marketing, and any other expenses related to the business.
  • Lean start-up business plan - on the other hand, use a standard structure even though they aren't as common in the business world.
  • Traditional business plans - is the most common. They are standard, with much more detail in each section.
  • Traditional business plans
    These tend to be much longer and require a lot more work.
  • Lean start-up business plan
    These business plans are short-as short as one page-and have very little detail.
  • Lean start-up business plan
    If a company uses this kind of plan, they should expect to provide more detail if an investor or lender requests it.
  • Fueling Ambitions & Mapping Growth
    To understand what it will take to get your dream off the ground. Following a business plan can help you to map out the growth of your company and give you confidence when you need it.
  • Manage your business effectively
    The usefulness of a cash flow forecast doesn't end there though. Managing your cash position, as you may have already gathered, is fundamental to the long term future of your business
  • Raise finance
    To support your growth will require an injection of funding
  • Understand what to focus on
    It's an emotional roller coaster of mass excitement and sharp shots of anxiety. Amid all this and with an ever mounting in-tray of "to do's", you can fast lose track of what's important.
  • Provide a road map
    This will give you something concrete by which to monitor and assess the progress you make.