TLE LESSON 1

• Business plan


  a document that details a company's goals and how it intends to achieve them.
• Business plan


  can benefit both startups and well-established companies.
• Business plan


  For startups this is essential to win over potential lenders and investors.
• 1.Executive Summary


  -First and one of the most critical parts of a business plan.
• 1.Executive Summary


  This provides an overview of the business plan as a whole and highlights what the business plan will cover.
• 1.Executive Summary


  Often best to write at last so that you have a complete understanding of your plan and can effectively summarize it.
• 2.Business Description


  Provides a comprehensive description of your business and its goals, products, services, and target customer base.
• 2.Business Description


  Include details regarding the industry your company plans to serve along with any trends and major competitors within the industry.
• 3.Market analysis and strategy


  to research and identify a company's primary target audience and where to find this audience.
• 4.Marketing and sales plan


  Covers the specifics of how you plan to market and sell your products and services.
• 5.Organization Description


  The details of your business's management and organization strategy. Introduce your company leaders and their qualifications and responsibilities within your business.
• 6.Product and Services Description


  Further expands the details of your products and services your company offer that you covered in the executive summary. Include all the relevant information about your products and services.
• 7.Competitive Analysis


  Comparison of your organization to your competitors. Outline your competitors' weaknesses and strengths and how you expect your company might compare to these.
• 8.Financial Projection and Needs


  Explains how you anticipate bringing in revenue. If you need funding for your business, this section also describes the source and amounts for that funding.