Did you search satisfactory business plan trying to figure out what the bare minimum is, or hoping to see the baseline for a submission that gets the funding it needs? It's not a simple question, as the criteria applied vary from investor to investor and every stakeholder is looking for something different. Given that, it's really best to aim as high as possible – try to impress the reader. Your plan should educate, enlighten, and explain the market opportunity, the product or service suite you plan to debut, and the critical intervention it makes into the market need. And the business plan won't be satisfactory unless it shows at least a three year forecast of revenues and expenses that's been pinned to careful assumptions and double-check for errors. Also:
• How much capital are you seeking?
• What is the total revenue and net profit you expect by Year 3?
• When can you repay the loan you receive?
• What are your competitors' price points?
Your business plan will be considered acceptable if it shows the pro forma and includes a description of your target market, the industry, and the market conditions you'll face. To impress, it should also show a marketing strategy illustrating your techniques for getting recognized by consumers or clients. The plan also needs to show a management section and personnel plan – the former should summarize your individual accomplishments to date, and the latter should set forth the timeline on which you will recruit help for your business. You also need to assess the market need (this is a requirement of the SBA). Want a great plan instead? MasterPlans has written for companies large and small and has 9,000 plans under its belt. Call a consultant today by dialing (877) 453-2011.
