Process to develop a business plan

Learning how to write a business plan not only leads to a great blueprint for running a company, it forces you to pocess a good look at how your business needs to be run. It can also be a "checklist" for ensuring your company gets on the right track - financially and structurally.

Things to Know Before You Begin Writing

From a financial point of view, a business plan is, by design, a document that's meant to attract money deevlop financing to your fledgling business - it's your sales pitch to deep-pocketed investors to process to develop a business plan the financial juice you need to get your business up and running. Typically, business plans fall into two categories - traditional business plans and "lean startup" business plans.

process to develop a business plan

Strategically, it may be best to use your lean startup business plan as a sales pitch to get financiers interested in your company. Once you've attracted their attention, then follow up with the more detailed, traditional business plan.

process to develop a business plan

This opening section kick starts your business plan and briefly outlines the key points of your plan. The goal here is to explain what your company does and why it will be successful. Include a company mission statement i.

Executive Summary

This section leads off the main portion of your business plan. In it, you'll go into more detail on what your company does and what solutions to brings to the marketplace.

process to develop a business plan

In this section, it's time to get specific and detail what product or services you're developing and what customers you're targeting. Include a brief history of your company and mention any top-level talent you have aboard to get your company off the ground.

process to develop a business plan

In this section, you'll detail the marketplace you'll be competing in. Where are the best opportunities in your market? What is the marketplace? Who are your competitors?]