SCORE

It's certainly no secret that everything in life requires some form of plan. The same exact thing can be said in terms of business, regardless of exactly what kind of business it is. In order to know exactly where you're going, it's important to know not only where you came from, but also exactly what came before you.

 

Here are eight important key elements that will be useful to help you write a successful business plan.

 

Executive Summary

This is generally a one or two-page outline of what your business plan will entail. This is also best to complete once you have completely finalized all of your plan's major details.

 

Description of Your Business

This is where you will need to both include and define aspects of the services that you offer, as well as the overall history of your field, your personal goals, current happenings, etc. Essentially, this section will be the backbone of your entire business plan and will help to set the stage for everything else that will be included within it.

 

Services and Products

This section will describe exactly what is is that you will be offering and/or selling to prospective clients, as well as letting people know what makes those services and products as unique as they are.

 

Marketing and Sales

This is a section that's extremely important, as it provides a proverbial window into the industry in which you work. Furthermore, it also enables you to essentially distinguish yourself from the rest of your competitors. Additionally, keep in mind that those individuals who visit your website will be able to not only browse through the merchandise that you have available, but they will also be able to become more familiar with your overall brand. You will also be able to do things such as provide demonstrations for your products, use photographs as your visual marketing materials, showcase customer testimonials, and so much more in terms of both marketing and sales for your business. It's also a good idea to present your contact information as well, which will allow people to successfully do business with you. It also provides a favorable first impression of your services, personality, and qualifications.

 

Operations

This section will allow you to outline your business's administrative side. This includes where you're located, how you operate, equipment, staff, etc.

 

Your Management Team

If you have other individuals who help you with managing your business, such as legal advisers, this is the section in which you will want to make mention of their involvement, as well as how much they contribute. Furthermore, if your business has any kind of a hierarchy, you will need to detail that as well.

 

Development

This section does not entirely have to be based on pure facts alone, as you can instead look into the future and think about where you'd like your business to go and how much you'd like for it to grow. Be as detailed as you want to or can be.

 

Financial Summary

Here, you will need to offer records of all of your financial dealings and investments, as well as detail exactly how you came into the current position that you are in. You can also project how your company will be able to operate, as well as assess your overall financial status. This includes how everything is expected to balance out at the end of every month, your overall cash flow, and the financial health of your business itself.

 

Writing a Winning Business Plan Workshop

Time: August 29, 2017, 10:30am

Address:

SCORE Austin
5524 Bee Cave Rd.
Westland Park
Austin, TX, 78746

A business plan is a tool for thinking more clearly about your business idea. It helps you stay organized and on track, gain a better understanding of your market, confirm that your financial model is realistic, and create a long term vision and strategy. We will introduce you to the essential elements for preparing a plan for business success.

Register here: https://austin.score.org/content/take-workshop-49