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For example, do you plan to hire employees, open up a second restaurant or manufacturing plant, purchase new equipment and machinery to increase productivity, or go public and sell shares on a stock exchange?
Others like to focus on the numbers first, so they start with a sales forecast or spending budget. A healthy business planning process will always involve circling back often to check results and revise as necessary.
Summarize the problem you are solving for customers, your solution, the target market, the founding team, and financial forecast highlights.
Be sure to include summaries of your managers’ backgrounds and experience—these should act like brief resumes—and describe their functions with the company.
Full-length resumes should be appended to the plan.
Likewise, although the management summary is usually presented toward the end of a finished business plan, it might be an easy place to start writing.
And some people prefer to start with a mission statement, or strategy summary.You're making your pitches even tougher if you're using a generic, flavorless business plan.But I know from experience that the last thing you have when you're starting your own business is an abundance of time to dream up creative ideas for your business plan.Updating and referring to your plan on a regular basis can drive better decision making and help keep your focus clear.This is critical as the demands of growth, customers, staff, and investors threaten to cloud your company's vision.Having a business plan is a must, whether your goal is to start a one-person freelancing business or a multi-million dollar enterprise.However, if you are looking to start a simple product or service business as a sole proprietor or one-person corporation you don't need a 50-page business plan. A quick and easy one-page business plan templates can get you started.For a one-page plan, the answers to questions should be one or two sentences.How do you plan to grow the business and to what degree?If your business is a partnership or requires multiple employees, you may need a more robust business plan.Similarly, a one-page plan will not be sufficient if you are in need of debt or equity financing and wish to impress financial institutions or potential investors.