This section details the current members of your management team and their backgrounds. Your Management Team section has three sub-sections as follows: Here is where you set goals for specific and critical undertakings, such as when a new product will be created and launched, by when you plan to execute new partnerships, etc. In this section of your business plan, list the key milestones you hope to achieve in the future and the target dates for achieving them. For example, will you maintain a Customer Service department? If so, what specific role will it fill?īy completing this section, you’ll get great clarity on the organization you hope to build. In this section, you will detail these functions. Your Key Operational Processes are the daily functions your business must conduct. Your Operations Plan section has two sub-sections as follows: In other cases, you might have distributors or partners who sell your products or services. In many cases, they can only buy directly from you, perhaps at your physical location or web address. Your Distribution Plan outlines the ways in which customers can buy from you. In this section, detail each form of promotions you will use. For example, you might choose radio advertising, or online pay-per-click ads, or press releases, and so on. Your promotions plan details the tactics you will use to attract new customers. For example, are you the premium brand? The low cost brand?ĭiscuss your expected branding based on your chosen pricing model. In particular, discuss how your pricing relates to competition. Here is where you give the details of the products and/or services your company offers.ĭetail your pricing here. Your Marketing Plan section has four sub-sections as follows:
Specifically, state what is it about your company that will allow you to effectively compete (and win) against both direct and indirect competitors. Importantly, identify your Competitive Advantages in this section. In this section of your business plan, outline who your indirect competitors are, and their strengths and weaknesses. For example, if you operate an Italian restaurant, a French restaurant would be an indirect competitor. Indirect competitors are companies that fill the same customer need you fill with a different solution. In this section of your business plan, outline who your direct competitors are, and their strengths and weaknesses. For example, if you operate an Italian restaurant, other Italian restaurants would be direct competitors. Your Competitive Analysis section has three sub-sections as follows:ĭirect competitors are companies that fill the same customer need you fill with the same solution. For example, do customers care most about speed, quality, location, reliability, comfort, price, value, etc.? In this section of your business plan, specify why customers want or need your products and/or services. Include as much demographic data on your target customers as possible, such as their gender, age, salary, geography, marital status and education.
Your Target Customers section precisely identifies your current and/or intended customers. Your Customer Analysis section has two sub-sections as follows: Your relevant market size is calculated by multiplying 1) the number of customers who might be interested in purchasing your products and/or services each year and 2) the amount these customers might be willing to spend, on an annual basis, on your products and/or services. It is the annual revenue your company could attain if it attained 100% market share. The relevant market size is a much more specific calculation of your market size. For example, if you are a restaurant, you would include the size of the restaurant market, a brief discussion of sectors (e.g., fast food versus fine dining) and market trends. The Market Overview section discusses the size and characteristics of your market. Your Industry Analysis section has two sub-sections as follows:
Importantly, your past accomplishments are perhaps the best indicator of potential future success, so be sure to identify and include all key milestones your company has achieved to date. Here you will answer questions such as when and how your organization was formed, what type of legal entity you are, and accomplishments to date. The Company Overview section provides a brief history of your company.
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