Steps To Writing The Best Business Plan
Are you a new business owner? Do you have a business plan in play that will ensure you are headed in the right direction you need in order for your business to grow? This type of plan is essential for the success of your company or brand. When it comes to it, are you aware of how to properly build these plans? If not, our professionals at Joyce CPA, LLC are here to help. We are a certified internal auditor company located in Cutler Bay, FL.
Things Your Plan Should Include:
- Executive summary – a snapshot of your business.
- Company description – describes what you do.
- Market analysis – research on your industry, market, and competitors.
- Organization and management – your business and management structure.
- Service or product – the products or services you’re offering.
- Marketing and sales – how you will market your business and your sales strategy.
- Funding request – how much money you’ll need for next 3 to 5 years.
- Financial projections – supply information like balance sheets.
- Appendix- an optional section that includes résumés and permits.
How To Create A Business Plan That Works
- It is your responsibility to know everything you can about your business and the industry that you’re entering. Read everything you can about your industry and talk to your audience.
- Determine the purpose of your plan.
- This plan is a roadmap that provides directions so a business can plan its future and helps it avoid bumps in the road. That is important to keep in mind if you’re self-funding or bootstrapping your business. But, if you want to attract investors, then your plan will have a different purpose, and you will have to write your plan that targets them so it will have to be as clear and concise as possible.
- Create a company profile.
- Your company profile includes the history of your organization, what products or services you offer, your target market and audience, your resources, how you are going to solve a problem, and what makes your business unique.
- Document everything.
- Investors want to make sure that your business is going to make them money. Because of this expectation, investors want to know everything about your business. To help with this process, document everything from your expenses, cash flow, and industry projections.
- Have a strategic marketing plan in place.
- A great plan will always include a strategic and aggressive marketing plan.
- Consider your audience.
- The potential readers of a plan are a varied bunch, ranging from bankers and venture capitalists to employees. Although this is a diverse group, it is a finite one. And each type of reader does have specific typical interests.
- Explain why you care.
- Whether you are sharing your plan with an investor, customer, or team member, your plan needs to show that you are passionate, dedicated, and actually care about your business and the plan.
Contact Our Certified Internal Auditor
When it comes to creating that perfect business plan that will woo investors, trust our advice. Here at Joyce CPA. LLC, we are your resource to keep you following all the rules and keep your business running! We are conveniently located in Cutler Bay. Call or contact us today for more information. We are experts of internal audit.