Odile Callie October 1, 2021 Business Plan
Your business plan outline will include the following three sections: 1. Executive Summary. Your executive summary will be the initial part of the plan and is often the longest section. It consists of the most detailed information about your company and why you intend to secure funding for your ecommerce business.
Investors will prefer companies like yours that demonstrate they have a plan to succeed. This is why most business plans are written in chronological order - by month, quarter, or year. You can also outline a particular month or even a particular quarter within your business plan outline as long as the focus of the month or quarter is on the overall direction of the business. There are several different formats of business plans that can be used for investors to read and consider.
E. A competitive analysis. The competitive analysis should include a discussion of the companies like home-based businesses that are the subject of the business plan. A description of the competitive environment should include specific examples (for example, "We compete in the home-based business field with other home-based companies such as the Sam's Club and Lowe's") as well as general guidelines and an overview of key advantages and challenges for the company.
As you continue to write and develop your business plan, you will want to add details and detail as you identify more aspects of your business. Write down any financials, sales forecasts, and projections based on the information you gather. While this plan represents a first draft, as you flesh it out it will become an ever-evolving document that describes your business in its true light-a light that is not too pessimistic, but one that is realistic enough to help you reach your startup goals.
As capital is raised, the balance sheet will become much more transparent, as well as the exact nature of the financial projections. In general most financial projections will cover a full year of operation. The reasons for this are not only to give realistic expectations regarding revenues and expenses, but to provide a baseline for comparison over the entire twelve or more months the business will be open. All of this information allows the business plan to be reviewed by members of the investment community and prospective investors. Having an accurate forecast of operating, investing, and financing costs will allow these individuals to make informed decisions about whether or not to invest in the company, as well as giving an accurate picture of the company's future profitability and viability.
Most business plans will contain, at a minimum, a statement of financial risk, identifying specific types of risks to the company's long-term viability, as well as a description of the company's business model. All of this information will help prospective investors to make an informed decision on whether or not they should invest in your company. Long-term investors tend to be sophisticated and focused on the company's ability to generate strong profits and manage its short-term debts, as well as the ability to remain financially viable while doing so. Because these long-term investors are interested in not only your overall success, but the longevity of your company's structure as well, they will have additional questions for you when preparing your formal business plan.
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