What goes into a streamlined business plan? As the term suggests, less content than would populate a full plan, but a word of warning – that doesn't mean you can skimp on the important stuff. Before you edit with impunity, think about the most essential parts of your concept and your market and make sure that each point is adequately reflected in your shortened business proposal. Put yourself in the shoes of the reader – if you look over this streamlined plan, do you know what the company does and why it matters? Can you tell what the revenue potential is and when the business is profitable? Do you know the market segments and the strategy behind the business? You should. To make sure your plan achieves these things, no matter how streamlined, be sure that the proposal answers these questions:
• Who is the target customer?
• What is the potential profit within 3-5 years?
• What does the loan repayment or investor share look like?
• What competitive forces are at play?
• How will the company market itself to consumers/clients?
These aren't the only topics to cover but as you can see, none of them should be neglected, even in an intentionally-condensed business plan. While the SBA requires a full plan and a pro forma (with an appendix of “monthlies†for Year One), you can get a lot of attention for your venture with an Executive Overview document that's just 2-3 pages. But to condense the plan this far you need to be very careful that every important point still has its voice. Need help determining how to do this? Want to grow a condensed plan into a full one, or vice versa? MasterPlans has done it all. Entrust your plan to our team of trained professionals today: (877) 453-2011.
