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Lewis is a retired corporate executive, entrepreneur, and investment advisor in Texas.There are 15 references cited in this article, which can be found at the bottom of the page.Full-length resumes should be appended to the plan.
To know where you are going, you have to know where you came from and what came before you.
Every business, whether a startup or a full-fledged, profitable organization, needs a business plan.
Your business plan should present what a banker or venture capitalist expects to see, in the order they expect to see it in.
Following a standard business plan outline will keep you on track, and save you from botching your best chance at getting your business funded.
You should be able to describe what it is that you are selling as well as identify what makes your product or service unique. It gives you a window into your industry, the state of the market, general costs, how business is acquired and also affords you an opportunity to distinguish yourself from competitors.
While you are making the most of this section, also realize that just as people who walk by physical stores on the street can see what's going on at a place of business, visitors to your website also have the ability to browse your merchandise and become familiar with your personal branding.In addition, the business plan is an indispensable tool to attract business capital.This article will outline how to create one step-by-step.Start from the very beginning understanding that your business plan ought to be specific to your business needs and objectives.Every business ought to have a plan, but not every business needs a full formal plan with carefully crafted summaries and descriptions.For example, although the executive summary comes as the first business plan section, I recommend writing it after everything else is done, so you know exactly what appears in the rest of your business plan.Likewise, although the management summary is usually presented toward the end of a finished business plan, it might be an easy place to start writing.You’ll want to cover the technology you plan on using, your business location and other facilities, special equipment you might need, and your roadmap for getting your business up and running.Finally, you’ll want to outline the key metrics you’ll be tracking to make sure your business is headed in the right direction.Detailing information about yourself, even though you aren't actually in the presence of a prospective customer, gives a good first impression of your personality, qualifications and services.Related: Your Mission Statement May Be Utterly Useless or a Gold Mine Rather than just thinking of your website as a dormant place to tack your name on, kick it up a notch and view your website as an online storefront -- the place where business gets done.