Primary Components for a Comprehensive Business Plan
.
9. Revenue projections
10. An action Plan with time lines showing goals; and a Summary/conclusion that wraps everything together (this also could be an executive summary at the beginning of the plan).
Your Financial information will include the following:
- Profit and Loss Statement and Balance sheet – Update Quarterly.
- Cash Flow Projections for 3 years
- Accounts Receivable and Accounts Payable – Update Monthly
- A current schedule of existing debt – with payments and interest rates Update Monthly
- A current Personal Financial Statement for all owners of company with an interest of 20% or greater
When creating a Business Plan or Executive Summary, keep in mind the following six points:
1. It has to be updated periodically to reflect your current position on the journey.
2. It has to be adapted to the reader.
3. It is a useful management tool.
4. It should highlight the strengths of your business and your short and long term goals.
5. It should be concise-personal-and highlight achievements.
6. It can be expanded or contracted, depending on the specific audience.
Include the above including: the requirements for investment plans, financial information disclosure items and six business plan excutive summary.
This series ongoing series handbook prepared by Marjorie Weber was prepared will also be part of the Miami Bayside Foundation to qualify small business owners for the Miami Bayside Foundation loan program.
Handbook series Small Business Start Up
Part 1: Small Business Start Ups Making It Legal; Part 2: Small Business Start Up Capital Access Primer and Key Steps ; Part 3: Definitive Steps to Create the Optimal Small Business Growth Team Part 4: Once You Have the Dream Team, It’s About Employee Retention, Part 5: Delegating Responsibilities Policies and Procedures – Letting Go Part 6: Breaking Down the Set Up of Small Business Financial Records Part 7: Three Best Bet Picks for Small Business Accounting Software Part 8: To Lease or To Buy? Issues Relating To Both In Today’s Market part 1 Part 9 Decided on a Business Lease? 20 Lease Provisions Part 10 What Small Business Contracts Are Required and Who Reviews? Part 11 What are the most serious small business risk and coverage issues? Part 12: Keeping Sightlines on Specific Small Business Target Markets Part 13: Small Business Targeting and Related Branding Components Part 14: Keys to Developing an Essential Small Business Marketing Plan Part 15: Small Business Social Media Blocking and Tackling 101 Part 16: Small Business Owner’s Primer- Understanding the Balance Sheet Part 17: 5 Considerations to Properly Price Products and Services Part 18: How to Handle Inventory in Cash Flow Projections
Related articles:
8 Components of Successful Small Business Marketing Plan
How to Execute a Strategy Plan
Have An Estate Plan for Your Small Business
Suggested Business Plan Outline
