Wondering what simple business plan illustrations should look like? It depends a lot on the type of project you're describing, but typically any illustration included in a business plan document should be used to help the reader visualize the product or service you're offering. It is sometimes appropriate to include an illustration (or photograph) of your corporate campus or business location, and of course there's no harm in including other modest illustrations (think Wall Street Journal-type sketches of your management team), but really the most common illustrations are simply schematics of your product. Remember that visuals cannot entirely take the place of content. In order to ensure substance in your business plan, make sure to include the following:
• A market overview section with current data
• A review of competing products or technologies
• A working marketing strategy section
• A personnel plan, if you need to hire staff
• An exit strategy, if required
The full pro forma financial model will hinge in part on your intended audience. If the plan is an internal document, or will be used primarily as a roadmap, it should model out however many years you feel comfortable estimating. Provided your target audience is the SBA or a bank because you'd like to get a loan or a line of credit, a three-year model will suffice. Need more aggressive modeling? You should go five years out for investors or venture capitalists. No matter how you approach the big picture on the financials, it is best to include all relevant tables: revenue forecast, break-even, profit and loss, cash flow, balance sheet, and an appendix showing monthlies. Need guidance with this process? Place a call to MasterPlans. We have helped more than 8,000 clients to date get their plans in tip-top shape. (877) 453-2011.
