How To Write A Successful Business Plan
by: Jason Kay
Whether you are planning to start a brand-new business, expand an existing
company, or get financing for a business venture, you will need to write a business
plan. A business plan not only lends your business a sense of credibility, but also helps
you to cover all your bases, increasing your chances of success.
Although writing a business plan can be a lengthy, intimidating project, it is not
necessarily difficult. Here is an overview of how to write a successful business plan.
What to Include in Your Business Plan
Your business plan needs to demonstrate that you have thoroughly considered all
aspects of running your business. To that end, the standard business plan has nine
major sections, covering everything from your business’s mission statement to a
detailed financial analysis.
The first – and most important – section of your business plan is the executive
summary. This section is so important that it should literally be the first thing the
reader sees – even before the table of contents! However, it should also be written last,
as you’ll have a better understanding of the overall message of your business plan after
you’ve researched and written the other sections.
One of the most important parts of the executive summary is the mission statement.
The mission statement is only three or four sentences long, but it should pack the most
punch out of everything else in your business plan: Those four sentences are
responsible for not only defining your business, but also capturing the interest of your
The rest of your executive summary should fill in the important details that the mission
statement glosses over. For instance, your executive summary should include a short
history of the business, including founder profiles and start date; a current snapshot,
listing locations, numbers of employees, and products or services offered; and a
summary of future plans and goals.
This section is a candidate for a bulleted format, which allows you to list main points in
a manner that is easy to scan. Avoid using too much detail – remember, this section is
a summary. A page or two is usually sufficient for an executive summary.
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Write A Successful Business Plan by: Jason Kay