A detailed business plan is a necessary component of developing a successful business. Your business plan should include information related to the structure of management, startup costs, marketing strategies, financial outlook and market analysis. This plan forces you to examine the market place to ensure you have a wide customer base that is sufficient to sustain the business. You also need to determine the number of employees needed to provide goods and services. A detailed business plan is a useful tool that can guide you through each step in building a business.
How to write a detailed business plan
Create an outline of the business plan . Must contain between five and seven section titles, which will be used to help others navigate through the plan. The section titles may include, for example, business overview, business description, Goods and Services, Information Analysis, Marketing Plan, Operations everyday, Management Structure and Financial Details.
Create five to seven bullet points under each heading. Under Business Overview, for example, you can include the following vignettes: Business Name, Type of Business, Mission Statement, Purpose of business, location and direction of the business. Expláyate about these points when writing a draft of your business plan .
Compile marketing research and information related to your business. This information should support the need for your business in the area. Research can be conducted via the Internet, interviewing local businesses, offices Small Business Administration or by visiting your local chamber of commerce. The information should include: marketing trends pertaining to your industry, the typical consumer profile, Panorama of potential competition, how to reach a customer base, Research on existing customers and Reasons why your business will succeed.
Develop a marketing strategy used to attract new consumers. Includes marketing techniques such as direct mail marketing, advertising and internet sales. The cost of marketing, the last campaigns and how much activity you expect to attract your marketing strategy.
Summarizes the daily operations of your business. This should include the number of employees , cost of parts and labor, insurance costs and storage costs.
Create a management structure that exposes the positions and job responsibilities.
Collect all financial information related to your business. A detailed business plan includes the total costs of operating a business, as well as a projection of profit and loss.