Business Plan Guide

A business plan is an essential, ever-changing road map, detailing the strategy that an entrepreneur plans to employ to make her vision a reality. It should clearly outline the company's purpose, products and services, market positioning, competition, operations, management team, financial information, and growth potential. Ideally, it should hold the answers to any relevant questions that a potential investor may have.

See Creating Your Pitch to get detailed information on any specific component of your business plan.

Creating a Business Plan (1:43)

A business plan helps you to crystallize your ideas, focus your thinking about how to execute them, and will show the potential for the idea. Once the business plan is drafted, it has to be revised constantly.

 

Contents of a Business Plan (1:35)

A business plan tells the story of your company and should be concrete rather than abstract. Its contents should include an executive summary, followed by background information, market and industry analysis, business strategy, and financials.

 

Strategies for Success (2:11)

When investors read a business plan, they focus on the management team, target market, business model, competition and the company's approach to the market. The company must understand their competitive landscape, how they are differentiated, and what gives them a competitive advantage over their competitors.