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    7 Essential Elements of A Business Plan

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    minorona2409
    The document outlines the 7 essential elements of a successful business plan: 1) Executive Summary, 2) Company Description, 3) Market Analysis, 4) Organization and Management, 5) Goods and Services, 6) Marketing, and 7) Financial Projections. The Executive Summary introduces the business and its objectives, products/services, growth projections, and financial information. The remaining sections provide details on the target market, business structure, specific offerings, marketing strategy, and financial goals. A strong business plan that addresses all 7 key elements is critical for startups to attract investors and set themselves up for success.

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    7 Essential Elements of A Business Plan

    Uploaded by

    minorona2409
    208 views2 pages
    The document outlines the 7 essential elements of a successful business plan: 1) Executive Summary, 2) Company Description, 3) Market Analysis, 4) Organization and Management, 5) Goods and Services, 6) Marketing, and 7) Financial Projections. The Executive Summary introduces the business and its objectives, products/services, growth projections, and financial information. The remaining sections provide details on the target market, business structure, specific offerings, marketing strategy, and financial goals. A strong business plan that addresses all 7 key elements is critical for startups to attract investors and set themselves up for success.

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    7 Essential Elements of a Business Plan

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    The document outlines the 7 essential elements of a successful business plan: 1) Executive Summary, 2) Company Description, 3) Market Analysis, 4) Organization and Management, 5) Goods and Services, 6) Marketing, and 7) Financial Projections. The Executive Summary introduces the business and its objectives, products/services, growth projections, and financial information. The remaining sections provide details on the target market, business structure, specific offerings, marketing strategy, and financial goals. A strong business plan that addresses all 7 key elements is critical for startups to attract investors and set themselves up for success.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    208 views2 pages

    7 Essential Elements of A Business Plan

    Uploaded by

    minorona2409
    The document outlines the 7 essential elements of a successful business plan: 1) Executive Summary, 2) Company Description, 3) Market Analysis, 4) Organization and Management, 5) Goods and Services, 6) Marketing, and 7) Financial Projections. The Executive Summary introduces the business and its objectives, products/services, growth projections, and financial information. The remaining sections provide details on the target market, business structure, specific offerings, marketing strategy, and financial goals. A strong business plan that addresses all 7 key elements is critical for startups to attract investors and set themselves up for success.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
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    7 Essential Elements of a Business Plan


     Published on September 5, 2014

    While the business plan is a fundamental part of starting a business, many new owners neglect to
    establish one before setting up their company. Since your business plan is the single most
    important document when looking for investors, you need to get it right. Here are the seven key
    components your plan needs.

    Executive Summary
    The first and most important part of the business plan is the executive summary. It lets potential
    investors know whether the project looks viable or not, and should be clear and compelling. This
    section also outlines the points in the plan and describes how the business will present its
    offerings to the public. The executive summary should include:

    • Mission statement: a brief summary of the business and its objectives.

    • Company information: introduces the founders, with their biographies.

    • Growth projections: outlines and quantifies the earning potential of the business.

    • Products or services: describes what products and services are offered by the business.

    • Financial information: outlines current capital for the company, including any current investors.
    Company Description
    While the first section describes what is being offered, and how it is going to be offered,
    potential investors will want to see more detail. The company description provides much of this
    additional information. This is the section where you highlight the clientele you foresee, the
    advantages you have over the competition, and the void your business will fill.

    Market Analysis
    The market analysis outlines how your chosen industry functions. For example, if you were
    selling office supplies, you would explain the supply needs of office workers in your target
    market. Describe how large your market is, how your prices are structured, and how you will
    remain competitive in your industry.

    Organization and Management


    Here you focus on the structure of your business. How many owners does the company have?
    Who will operate the business? How are responsibilities delegated? What will your promotion
    and incentive structures be? Many people use charts and graphs to give a visual representation of
    these factors.

    Goods and Services


    In this section you give a more detailed description of your offerings. Describe how they differ
    from your competitors' products and the benefits they offer your customers.

    Marketing
    Your growth strategy is described here. How do you intend to increase your business in the near
    and distant future? Discuss expansion plans in this section, as well as plans to market to
    prospective clients. What marketing media will you use? What's your budget? Do you have an
    offline plan as well as an online plan?

    Financial Projections
    Here you express the financial goals for your business. Outline how the marketing and sales
    ultimately equate to a profit. Basically, you make earnings and cost predictions in this section.
    This is another part of the plan where graphical representation of the information can really help.

    Your business plan is the first serious step toward starting a new business. A large majority of
    businesses fail in the early stages, but you can increase the odds for success if you properly plan
    your objectives and strategies. Take the time to devise a plan that is right for your business and
    looks good to investors.

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