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7 Important topics for Inclusion in Your Business Plan |
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Written by David Willetts
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Discover 7 important topics for inclusion in your business plan.
In the preparation of a business plan care should be taken to ensure the reader easily understands all important data about the business.
What is important will vary from business to business, however, 7 topics that will most probably be included in a business plan are:
1. The trading history of the business including a commentary on the significant events that impacted the numbers and trends.
2. Evidence supporting the sales forecasts. Details of enquiries, contracts gained, and marketing activity would add credence to the immediate period's turnover projections whilst an outline of the new product development process would give support to longer term forecasts.
3. Details of what differentiates you from your competitors.
4. A commentary on the relationships the business has with key suppliers and customers, including details of any long term agreements.
5. Case histories and customer testimonials.
6. Narrative on the skill sets of the management team illustrating the ability of the individuals to successfully implement the strategy, adding details of their past experience in the work.
7. The business goals should be clearly stated including the exit strategy if appropriate.
The issues above become increasingly important if the business plan is relied upon by third parties as part of a funding approval process. To be successful in such circumstances the ability to demonstrate the business is under control will be of paramount importance.
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