Wondering what might be the #1 thing to note in business plan documents these days? There's some healthy debate about what the most important element is, but most people agree that a concise, clear executive summary that lays out everything important about the venture and its projected success is sure to hit the most important element in play. In other words, if you have a great intro – compelling, comprehensive, and clear – you can't possibly miss the most vital element that the plan needs to articulate. If you need more concrete guidance than that, these are all topics commonly cited as the “#1 thing”:
• Your projected ramp-up in revenues over 3-5 years
• The likely investor share or loan repayment timeline
• The year-end net profit you expect in Y3 or Y5
• The chief competitors in the space and their market share
• Your executive pedigree and/or advisory board
Other important things include the marketing strategy you have in place, current statistics about the industry, and figures about the staying power of companies in this sector. The plan should demonstrate that you know who your target customers are, what they have in common, how you can best reach them, and the amounts they're willing to spend for your product or service. A pro forma financial model that investigates your potential returns over the forecast period – weighed against expenses and linked to reasonable assumptions – is also critical. Need help figuring out how to cover these important things? You need MasterPlans. Our team of experts can get your plan together perfectly. Call 877-453-2011 today!
