Business Plan Help

Writing a small business plan is one of the most important things that any new business owner will do. It is especially crucial for small and privately owned companies to develop and update these plans in order to remain productive and competitive.

Elements of a Small Business Plan

Every small business plan has primary elements that should be included to give investors, partners and potential employees a clear and concise view of a new or growing company. These elements are:

1. Executive Summary
2. Problem Statement
3. Solution Statement
4. Business Model
5. Definition and descriptions of what sets this business apart from its competitors
6. Marketing and Sales Plans
7. Exploration of real and potential competitor companies
8. Management team members and summary of their experience
9. Projections of both profits and expenditures for the company
10. Status of materials, real estate, supplies and employees along with a timeline for all elements not currently in operation
11. Conclusion

Many of these elements involve in-depth research to provide current and accurate information. This is quite time-consuming, but it is absolutely critical that each section be thoroughly explored.

Most investment review boards recommend that a small business plan be 20 pages or less, regardless of the size of the company. Though each plan should provide a complete description of each element, these descriptions should be written in a concise, professional manner.