The first section of a business plan is the executive summary, which typically has an area of ??2 to 3 pages and is primarily a sales tool. With few words must be able to show that there is an opportunity and highlight how you intend to capture it. The executive summary should be written after completing the business plan, and aims to excite the reader to read the whole thing.
Each plan can have a different structure because the nature of the opportunity and to capture the main variables are specific to each business. Therefore, the more useful sections is to describe the details of the issues that should be in any business plan, opportunity, business model, entry strategy, resources and risks.
There is an opportunity when connecting a need with a solution that satisfies better than the alternatives. Therefore be necessary to explain clearly how the product meets the market need and their advantages or disadvantages compared to substitutes. But the chance to evolve with the interests of customers and action of competitors, so it is important a section describing the industry and how we hope to change.
The business model: taking a chance we can define a strategy to capture: where we are, where we want to go and how we’re doing. The business model describes where we want to. On the one hand, you must specify how to make money: who, how and why you are charged. Secondly, we must show how the product: what activities will be conducted by the firm and which outside. We must also explain how to defend this model, what advantage difficult to imitate by competitors, is intended to generate?
The entry strategy: the business model we can make clear how we got it. This is particularly relevant to our entry strategy with customers, define how the client meets your needs now and what benefits you our product, how we communicate and how do these benefits so you can find product to buy. It is the marketing and distribution plan. The advantage offered by our product should be large enough to motivate him to choose ours. Communication includes our advertising strategy and other ways of communicating with customers as word of mouth. In this sense, we must show what marketing channels used to reach this segment, and why we support the owners of these channels.
Resources: having described our strategy, we identify the human resources, technology or money we need to implement the strategy. To achieve these resources, we must offer their own better than their alternatives. We understand your goals and make an offer on these terms.
With the costs of resources and an estimate of potential revenue we can build the projected cash flow, which recorded all income and expenses that will occur in each period. Initially, expenditures exceed income normally, and you need to cover this deficit through the initial investment. The cash flow also allows us to calculate the profitability and the expected value of each project to choose among the alternatives we have. Finally, a good business plan includes a section that identifies the key risks and contingency plans to define the most critical.
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