Noah is currently the COO at Palo Alto Software, makers of Outpost and the online business plan app Live Plan, and content curator and creator of the Emergent Newsletter. Eisenhower once said, “In preparing for battle I have always found that plans are useless, but planning is indispensable.” If you’re starting a business, you should have a business plan regardless of whether you’re bootstrapping it or looking for outside funding.Tags: Conservation Of Trees EssayUcla Admission Essay PromptEssay On The Origin Of AidsCitation On Research PaperApply Texas College EssaysCharacter Analysis Essay Lesson Before DyingEssays On CulturesReflective Essay On Cultural Diversity
So, let’s get into what information goes into your business plan.
Related: Business Plans: A Step-by-Step Guide A typical business plan is 15 to 25 pages.
Too many companies spend time focusing on presentation and graphical display of their plans when what they are saying and how they are saying it is really the most critical aspect of your executive summary.
Don’t get me wrong, you don’t want to have an ugly presentation, but focus on the content more than anything else.
It’s actually a very good exercise to trim down your executive summary to the absolute minimum.
This will force you to trim needless words and communicate your business idea clearly and with minimal clutter.
Your summary should work at a very high level and include the basic outline of what your business will look like on day 1, as well as what it will be on day 1,825.
Your audience wants to know 3 things: who you are, what you do, and how you’ll do it: what industry are you in, what your team will look like, what your initial investment needs to be, and what the ownership structure will look like. To my thinking, this is the most important page; here you will outline the market you will compete, how you will compete, and why you believe your company can succeed; in other words a few paragraphs of analysis of your industry, and the key players, and the current trends. Here you have to answer the most important question, and the one that makes the rest minor in comparison: how will reach profitability and how long will it take?
It’s not that potential investors and employees don’t want to know how you’re going to pull off this crazy, audacious idea of yours. Its that they expect you to communicate it to them quickly and succinctly.
In the spirit of the short business plan, this will be a short post; here are the three pages you need to include in your plan and some ideas for the type of information to include: 1. What do you intend to do, where do you intend to do it, and to whom are you offering it?