Trying to find a great cheat sheet for business plans? There are hundreds of pointers, tidbits, and other “cheats†online, no matter what sort of business you're hoping to start. But before you commit to buying a template – or put your full faith in an outline you find online from a college syllabus – think carefully about your business idea and the objectives you plan to fulfill with it. The business plan is not a static document and there's no “right answer†– your needs will define how the document is shaped. That said, funding sources definitely want to see certain things in the plan, and that means you'll for sure need to show each of the following:
• An addressable market need
• An analysis of competition and risks/forces
• A complete list of your products, services, or solutions
• A marketing strategy illustrating your plans to expand
• A bio on everyone vital to your team
Of course, the narrative of a business plan is just part of the document. One thing that no cheat sheet can ever fully address without some true customization is the financial forecast. You have to show a minimum of three years of expected revenues and expenses (five years if you plan to present to investors or VCs), resulting in a sustainable but attractive rate of cash flow and net profit by Y3/Y5. You should research competitors for costs and make sure that your revenue forecast is realistic. Staffing levels, investment ratios, and your P&L all need to be carefully reviewed. Need more assistance than any “cheat sheet†is going to deliver? Get in touch with the experts at MasterPlans. We have been working on business plans since 2002 and have 10,000 successful plans (and counting!) to our credit. Call today at 877-453-2011.
