The components of a business plan typically vary dramatically from entrepreneur to entrepreneur – particularly if the business plan is strictly being used for their own personal use. However, if you're seeking venture capital, angel investment, or a bank loan, then the components of a business plan do tend to be more fixed. That's because investors or lenders look for certain criteria in a business plan to quickly determine if your idea is viable, if you're actually capable of running the business, and if the concept has the possibility of becoming profitable (so you can generate them return on investment or pay your loan back). The following sections then are critical in any business plan for funding:
• An executive summary
• A description of your product/service
• An analysis of the market and competition
• A basic three year financial forecast
These sections can even been written and organized in that order. Sections that may be added include marketing and past performance if you're an existing business. Sounds too complicated? If you're interested in learning more about the components of a business plan – or having a business plan written – contact MasterPlans. We are the leaders in the business plan writing industry, and have extensive experience writing investor-ready plans that have helped our clients secure funding. Call us today at 877-453-2011. We provide prospective customers with a free consultation and all the information you need to get started with your MasterPlans business plan.
