What are the highlights of a business plan? There are two answers to this question. Most business plans contain an entry called the “Highlights†or “Financial Highlights†section; typically, this shows a summary chart, with graphs, of what the company's projected key financial metrics will be over the 3-year or 5-year period that the business plan forecasts. In essence, the highlights chart shows how the business will grow. But this table should be little more than an output from the finished financial model – in other words, to make the highlights first would be to put the cart before the horse. Another way to think of the question “what are the highlights of a business plan?†would be to ask, “what are the most important elements for the reader?â€
• The product or service should be clearly described
• The market opportunity should be analyzed in an accessible way
• The competition should be inspected thoroughly
• The marketing strategy should be listed out point by point
• The proposed investment or loan terms need to be disclosed
Written well, any part of a business plan could technically become the highlight. You should focus on what you do best. If you are a great writer, try to make the description of what your business seeks to accomplish come to life on the page – describe what the service suite will be in a way that makes the investor want to buy in. If you're better with numbers, focus on making the financial model sing. Use assumptions and industry research to come up with intelligent inputs for your model. If you're good with research, then the market analysis might be your forte – cover competitors, give current stats on the industry, and say something meaningful about the market need. If you have questions or need help, don't hesitate to call the professionals at MasterPlans: 877-453-2011.
