Business Plan Sample For Women Business [Outline]
Women businesses are currently witnessing a strong growth; especially as new women entrepreneurs are steadily emerging. These businesses owned by women are today receiving support and attention to succeed due to the crucial role women entrepreneurs play in society. This article focuses on providing support to women entrepreneurs who have little to know knowledge on how to organize a good business plan.
This is an outline that provides the necessary guidance needed to effectively write a good business plan that covers all types of women businesses. Whatever the type of business, this outline provides a structure to easily work with in creating a sound business plan.
It is advised that using this outline, the entrepreneur should write in her own words answers to the questions that will follow. This sample business plan outline will be divided in 5 main sections. We begin with the following;
The business plan executive summary is a brief explanation of what the business is all about, and the prospects inherent in this business. This will include things like;
Explain why you believe the business in question has a chance of succeeding. This part is very important as a compelling explanation is most likely to make investors interested in investing.
The Legal Structure of your business entity has to be clearly stated. This involves properly defining the business ownership in terms of being a corporation, a sole-proprietorship or a partnership with other individuals. This creates clarity of purpose.
Your products and services are a key component of this business enterprise. It is the reason the business is established in the first place. Stating clearly your products and services is necessary to achieving a well written business plan.
How did you come up with this business idea? It is necessary that this is clearly stated as it gives proper perspective regarding the origin of the business.
Under the marketing plan there are key factors that are required to achieve an efficient marketing of your products and services. These factors include the following;
Target Market/Customers; clearly identifying your target market is necessary to the success of the business. You have to identify your customer demographics. What target group will form the bulk of your customers? These questions need to be adequately answered. Also, the future expansion plans of the business have to be adequately provided. Is there a growth plan? What is the growth projection?
Your Competition; These are real and will always exist. Hence, you must have adequate knowledge on your competition, with details that include their strengths and their weaknesses. Knowing this increases the likelihood of writing a good and well laid out business plan. You must also clearly identify your competitors.
How will your products and services be distributed? The channels through which your products and services will be distributed must be clearly written out. Any investor looking at the business plan will have an impression that the business has a future.
Your Products and Services; Do they satisfy a need? In what way will these products and services reach the clients? it will do well to note that raw materials is a crucial component of any business enterprise. Hence, women entrepreneurs/businesses will have to ensure that their source of raw materials is sustainable. This should be clearly written out.
Your Competitive Advantage; This is very important. Your competitive advantage stands the business out from the pack. Including the competitive advantage the business has over similar business will form a very important component of a well written business plan for women.
The Pricing Strategy to be adopted; Adopting a comprehensive pricing strategy in your business plan is essential to achieving meaningful progress.
The Business Management Structure
The management structure of any business is important to its continued existence. A well organized management structure will impact the business positively. Including all the workforce with their specific duties gives the business plan a level of depth that required for meaningful progress. Such departments as the accounting legal, customer care, quality control among others should be included.
Including a sound financial plan in your business plan is necessary to achieving financial stability and necessary to getting the funding required from investors. The financial plan section always attracts the interests of investors, as a glimpse at the projections and cash flow will reveal if the business has a future or not. A monthly cash flow analysis including the expenditure and income should be included.
Other Required Documents
There are other important documents that need to be attached with the business plan. These documents substantiate the claims made in the business plan. These documents should typically include the expenditure incurred on assets, collaterals, proof of application for loan among several other necessary documents. Attaching these documents adds the much needed depth and seriousness to the business plan.
This sample business plan outline for women business is written to provide the much needed necessary guidance to women entrepreneurs who are either involved in business ventures or are interested in starting. Following this outline, it is strongly believed that they would produce a compelling and comprehensive business plan for their businesses.
Women Helping Women in Business, Inc. FY2009 Business Plan
Within the next five years become nationally known author, publisher and consultant serving women entrepreneurs and independent business owners by creating women-friendly business books, tapes, CDs, workshops… supported by a national network of certified women consultants/coaches.
Simplify the business of business for women entrepreneurs!
• Generate $215,000 in total revenues in 2009.
• Achieve profit before tax of $110,000.
• Land 20 new clients, generate at least $100,000 in coaching revenue.
• Sell 3,000 “Women in Business” books generating $30,000 in sales.
• Conduct monthly workshops, generate minimum of $60,000.
• Recruit/train at least 10 certified “Women in Business” Practitioners by 12/31.
• Speak at least twice a month; target of 30 speaking engagements for the year.
• Become nationally known as “the” resource for women in business.
• Use network/personal contacts to create supports to speak, get reviews, articles published
• Self publish to start, prove marketability, seek national publisher
• Continue to turn coaching/consulting processes into products; products into programs
• Create products & programs for others to sell that serve the entrepreneurial market
• Seek endorsements/approval/intros/quotes from noted authors, CEOs, SBA
• Exit strategy: sell to major publisher or business training company in 10 years
• Collaborate! Remember, can’t do this by myself.. Always keep it simple!
• Develop publicity & marketing plan by 2/28.
• Develop Women in Business practitioners program by 3/31.
• Contract w/Audio Designs for CD production by 6/30.
• Submit articles to Inc, Entrepreneur, Home Based Business for Dec. publication by 7/31.
• Complete mailing to 250 trade associations by Sept. 1st for 2010 speaking engagements
• Complete “Stress Free Selling” CD by 10/31.
• Complete “Profitability is No Accident book” w/ R. Miller by 12/31.
Sample business plan excerpted from The One Page Business Plan