Purposes Of A Business Plan

Both past financial data as well as prospective financial data will be required by potential lenders.

Include the following financial statements for the past three to five years; cash flow statements, balance sheets and income statements.

Sales strategies should also be included to provide information on sales staff and activities.

Describe to readers what you are selling and how the product or service will benefit current and potential customers.

Proprietary and confidential information may be part of the appendix and as such should not be easily accessed by all individuals requesting your business plan.

Creditors may need access to this information, therefore it should be available on an as-needed basis.Writing a business plan need not be an overwhelming task if you consider the following information.Before drafting a business plan it is important to understand why this document is so important to the success of your business.Documents which may be included in the appendix include market study details, reference letters, personal and business credit history, patents, permits, contracts and contact information for consultants.As you can see, writing a business plan requires a commitment of time and resources to ensure all relevant information is present.The same statements should be prepared with forecasted data for the next five years.A separate section which should not be included in the main body of the business plan is the Appendix.A crucial part of the business plan, the summary will basically tell readers the history of your company, where it is today and what direction it is headed; this is where you sell other on the potential success of your business idea.Include in this section a description of the industry, information on your target market, evaluation of your competition and market test results.Nevertheless, it is vital to the success of your business.A business plan details every aspect of business operations.

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