BUSINESS PLAN COMPONENTS
1. Company description.
2. Product or service description.
3. Marketing strategy and analysis.
4. An important part of the business plan is its organisational plan: Here you describe your organisation and provide potential investors with a greater understanding of the way your business works.
It is best to start with an overview of your organization,a short description of what your business does,followed by its history,its goals,and ways that distinguish your business from others that sell similar products or perform similar services. Here is where you can describe the way you plan to meet your goals. You should also describe your business model,and your company’s strategy.
5. Management and operational plan:
The Management Plan section describes your management team and staff and how your business ownership is structured.
The ownership structure
This would describe the legal structure of your business. It may be a single sentence if your business is a sole proprietorship. If your business is a partnership or a corporation,it may be longer.
The internal management team section will describe the main business management categories relevant to your business,identify who’s going to have responsibility for that category,and profile that person’s skills.
External management resources must be explained because those reading your business plan will be interested in knowing how you plan to use them. Think of External Management Resources as your internal management team’s backup.
In professional services,describe all those external professional advisors that your business will use,such as accountants,bankers,lawyers,IT consultants,business consultants,and/or business coaches. These professionals provide a 'web' of advice and support outside your internal management team.
An advisory board is like a management think tank; the members of your Advisory Board will provide you with additional advice to run your business profitably and well.
Describe your human resources needs specifically. Begin with the bottom line. How many employees will your business need and what will it cost you? This is what will be of most interest to the people reading your business plan.
First,consider how your business’ human resources needs can best be met.
Next,determine how much salary each employee will receive,and total the cost of salary for all your employees.