Suggestions on running a business from Magnetic Consulting Group
Business success often
relies on having a strong business plan. This plan outlines up to five years
ahead of time and helps ensure that your business will stay on track to reach
revenue goals.
Of course, creating a
good plan takes some time and dedication. Since a business plan outlines the
intended track a company will follow for the next several years, it will need
to be as detailed as possible. Below is a list of categories to cover when
writing a business plan:
1. Executive Summary—explains the basic goals and profile of your
company
2. Market Analysis—includes research conducted on your business
industry and the current market
3. Company Description—what you do, what makes you different from others,
and what markets you serve
4. Structure—lays out the best organization and management for your company
5. Marketing & Sales—shows how you will successfully market your
business and what sales strategies you will employ
6. Services & Products—outlines what you offer to the prospective
customer and how it potentially benefits them
7. Funding—determines how you will fund your business, including investors
or alternative sources
8. Projected Finances—backs up funding requests made by providing
relevant details on your expected financial situation
9. Appendix—stores important information and documents not included elsewhere
in your business plan, such as permits, license, resumes, leases, etc.
Taking the time to perfect your business plan
can majorly impact your business; it could be the difference between success
and failure, between owning a business and just working for one.
