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The Business Plan
Your business plan will be composed of the following sections and subsections listed below. Think of this as a skeleton index of your developing business plan.
- The Executive Summary
The Executive Summary of the business plan is often the first and sometimes the only part of the plan that an investor or potential partner will read. You have only a few pages to make a compelling and concise case for your idea, the funding needs, time frame and your ability to execute the plan.
- Market Opportunity
The Market Opportunity Section is intended to convince your reader that there is both a need and demand for your product or service. This section should demonstrate an understanding of your customers in terms of demographics and the factors that will influence their decision to purchase your product or service.
- Business Model
The Business Model section tells the reader what you are selling and why it will be successful in the context of the market opportunity. After reading the Market Opportunity and Business Model Sections, the reader should feel confident that you have a viable business idea.
- Operations
This section explains how you will make the business idea a reality and proves that you understand how the business will work from the inside.
- Management and Stakeholders
The Management and Stakeholders Section should explain who will lead the business venture and ensure its success. The Section highlights the management strengths and shows that you recognize where gaps exist and how to fill them. As you are writing this section, ask yourself "If I was an investor, would I trust this team with my money?"
- Social Outcomes
The Social Outcomes Section details how the business will help the organization meet its mission and projects the extent of that impact. The Section will describe what you want to achieve and why you believe these outcomes will be achieved. The Social Outcomes Section complements the Financial Section, where you will project the financial outlook.
- Financials
The Financials Section tells the story of the sustainability and viability of the business based on all of the revenues and expenses that you will incur to accomplish the goals of your plan. It also demonstrates that you have thought through the major risk factors and that you understand how they will affect the bottom line.
- Conclusion & Exhibits
Conclude your business plan with information on your financing need and next steps. Convince the reader that your business is a worthwhile investment through a quick summary of your business situation.
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