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Business Plan Creation

A business plan is a company’s roadmap to success.  It’s a document that describes in detail how a business (usually a startup) defines its objectives, market, strategy, advantages, risks, business operations and financials (current and projected). 

 

Although they are particularly useful for new businesses, every company should have a living-breathing business plan.  This plan should be reviewed and updated periodically to see if goals have been met or have changed and evolved. Sometimes, a new business plan is created for an established business that has decided to move in a new direction.

 

Business plans should not be idealistic views of a business’s potential through rose-colored glasses.  It should address concerns and be realistic.  Business Plan financial projections should not be calculated and presented in a “best-case” or “idealistic” way.  They should assume some potential pitfalls and setbacks so that the business has enough cash flow to make it through the first roadblocks and surprises.  Additionally, good business plans should assess the largest risks and competitive concerns for the business and do it’s best to outlay a plan to overcome these risks and concerns. That’s why it can be a big advantage to have your plan developed and/or reviewed by an experienced independent professional, like the ones we provide at Work Wolves.  Let us help you prepare your plan!

 

The traditional format of a business plan is below (Table of Contents). 

a)    Executive Summary
b)    Company Description
c)    Competitive Advantages
d)    Market Analysis
e)    Organization and Management (Org Chart)
f)    Legal Structure 
g)    Service or Product line
h)    Marketing and Sales
i)    Funding Request
j)    Current Financials (Exist. Businesses)
k)    Financial Projections
 

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