Developing a business plan
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.
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?
Plan (know your number!)
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?
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.
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?
personnel will you need to generate the current, mid-, and long-range
revenue plan? Budget the wage and overhead cost for each.
budget: List where and how you will secure capital to accomplish this
startup and its desired growth. Project a 5-year Balance Sheet (Assets
your loan interest as well as your compounding interest with our calculators.
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