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developing a business plan

Scriptural Financial Freedom Obtaining God's Blessing





Developing a business plan

Business Status Summary

New business startup plan:Summary of why a startup is viable. Current Business plan: Describe the current status of the business and why it is necessary to write a new plan.

Business Basics

How will the business ownership be structured? What is the business? Describe in detail what the business will do. What justifies the business? Describe why the business makes sense from a personal and financial perspective. Why do you want to be in business and what do you hope to accomplish in business? What are your short-term, mid-range, and long-term goals for the business? What is your business model?

Revenue Plan (know your number!)

Describe each revenue source. What can be expected from each source? What are the business revenue basics as you know them? How will you know when you are on pace with your Financial Plan?


Capitalization Plan

What will it cost to position yourself to generate the current, mid-, and long-range revenue plan (e.g. buildings, equipment, inventory, etc.)? Create a detailed list with actual or projected costs for each expense category.

Marketing Plan

Who is your competition? What is your competitive advantage? What will it cost to develop and grow your market share? How will you secure ongoing and growth business?

Human Resource Plan

What personnel will you need to generate the current, mid-, and long-range revenue plan? Budget the wage and overhead cost for each.

Financial Plan

Startup budget: List where and how you will secure capital to accomplish this startup and its desired growth. Project a 5-year Balance Sheet (Assets and Liabilities).

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This article is from financial articles





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