Business Plan Appendices

Business Plan Appendices-22
Keep in mind that solid market research is the backbone of an effective marketing strategy.You will want to back up your statements with facts — explain how you reached your conclusions and include statistics from reliable sources.Putting time and effort into conducting a comprehensive SWOT analysis can help you: This section addresses how you plan to manage your employees and human resources processes.

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This important summary should: You will want to describe your business concept, competitive advantage, legal structure (e.g.

sole proprietorship, corporation), the market, and your own experience.

You may also want to include a profile of your "ideal customers".

You can create profiles based on customer type — consumers, retailers, or wholesalers — or base your segments on demographic information such as age, location, and income level.

Although business plans vary in terms of length and scope, all successful business plans contain common elements.

The plan should take into consideration your particular business and its environment.

If appropriate, discuss any advisors, mentors, consultants that offer you support.

You may want to include: Don't underestimate the importance of this part of your plan.

Investors need to know that you and your employees have the necessary balance of skills, drive and experience to enable your business to succeed.

It is also advisable to outline any recruitment or training plans, including timelines and costs.

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