Business Planning

Business Planning 101

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For a startup business, the business plan explains your goals for the formation, operation, and success of the business. You should plan to spend two to four weeks gathering information and writing your business plan.

Content of Your Startup Business Plan

Although no set format is perfect for every plan, there is some information that is usually included.

1. Executive Summary – Summarizes the basic elements of your business
2. Company Description – Identifies the nature of your company and your business concept
3. Industry analysis – Provides a picture of the environment in which your business will be conducted
4. Market and Competition – Evaluates your anticipated market share
5. Strategies and Goals – Analyzes the market and your competition and determines how and where your product or service fits with the goal of maximizing your position in your target market
6. Products or Services – Describes your product or service and how it fits with your strategies and goals
7. Marketing and Sales – Your plan to market your product or service and a forecast of sales
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