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Having a business plan is essential, as it describes the current state of your business, the future plans for your business and how you plan to get there.<\/p>\n
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Business plans are inherently strategic. You start here, today, with certain resources and abilities. You want to get to a point in the future at which time your business will have a different set of resources and abilities as well as greater profitability and increased assets. Your plan shows how you will get from here to there.<\/p>\n
Need some help? Not sure what you should include, what you shouldn’t include and how to work the numbers? Here are 7 essential steps to guide you.<\/p>\n
Executive Summary<\/strong> Business Description<\/strong>
The executive summary will follow the title page. The summary should describe what you want. This is very important. All too often, what the business owner desires is buried on page eight. Clearly state what you’re asking for up front.<\/p>\n
The business description starts with a short description of the industry. Mention the present outlook as well as future possibilities. You should also give information on all the various markets within the industry, including new products or developments that will benefit or adversely affect your business in the future.<\/p>\n