Simple Business Plan Example
Writing a good business plan does not come very easy. For some entrepreneurs, it is simply an elephant task! However, it does not have to be, as long as it fully bears the most important aspects of your business, it should be okay.
It is very true that every business requires a business plan, but the thing is, not every business requires a fully detailed formal business plan which spreads into several pages. How detailed your business plan document should be depends upon who your intended reader is as well as the nature of your business among several other factors.
For instance, if you do not intend to use your business plan to seek for loan from investors or the bank; or if you only want to start a small service business, then you would require only a simple business plan without much detail.
Since your goal is not to show your business plan to any investor or bank, then you should just be fine with a very modest and simple business plan. It could just be one page to a couple of pages.
In this article, I will give you a very simple business plan format sample which you could use to shape your own business plan.
This is like the pitch to your business plan. It is what catches the attention of your reader and sustains it. Basically, it is the one major aspect of your business plan which has an influencing power on your reader, and which determines whether your reader would keep reading the rest of your business plan or toss it into the trash.
The executive summary is not difficult to write. If you have succeeded in writing the other aspects of your business plan very well, the executive summary will almost always turn out very well too.
Basically, the executive summary of your business plan is a summary of the entire business plan. All you have to do is simply to summarize each of the sections of your business plan, but make sure to keep it short and simple.
The executive summary of your business plan is quite optional, and you may leave it out of your business plan if your purpose of writing the business plan is not to seek for loans from investors and the bank.
This section of your business plan is where you should properly and clearly write the vision you have for your business. What are the hopes or dreams you have for your business? Clearly and articulately describe everything in simple language, easy to understand.
Here, you must be able to clearly describe the problem, as well as the solution you are offering to your customers. When writing this section, you must be very concerned with your customers rather than yourself, so as to help you better give a proper definition of your product offerings.
If necessary, you may include helpful details such as tables, price lists, etc. However, this section is majorly about describing how you will satisfy the need of the customers.
Market Analysis Summary
This section of your business plan is where you have to describe who your target market is; what groups make up your target market i.e. the kinds of customers which you aim to offer your products or services to.
Also, you will have to clearly explain what your customers need, where they are, and how you could get your products or services to them.
Also, in this section, you will have to clearly define the competition and your competitors, and how you intend to stand out in the industry i.e. your unique selling point (UPS).
Sales and Marketing Plan (Execution)
This section of your business plan is where you will detail how you will go about your execution. It does not have to be too detailed; you just have to keep it simple. Start with outlining the equipment you will need for your business. Also, you will have to explain your marketing plan and strategies as well as your sales plan in this section.
In this section, you will have to clearly give an overview of your business and the structure or organization. This section should also describe the key members of the organization and their roles, background, experience, as well as the management team.
It may also be necessary to give your business plan reader a background or overview of the business history such as when it was founded and registered, the state where it was registered, etc.
In this section of a simple business plan, you will have to document all the things relating to the financial aspect of your business. You will have to incorporate such things as cash flow table, profit and loss table, milestones and several assumptions you may have for the business.
Also, you may have to incorporate other financial aspects of your business such as balance sheet, sales forecast, pricing strategy, break-even analysis, business ratios, etc. Most important, if you are considering sourcing for loan to startup the business, you must include the how you plan on sourcing for the startup fund.