Matthew Warner
Psytext
Writing a business plan takes time. It takes research, detail and an in-depth understanding of what your hopes, dreams and corporate vision is as a whole. They are usually updated, and changed based on outside and interior influences. The first portion of your business plan is going to include your "Executive Summary" details. If your business is a new company, a well written executive summary will provide a clear indication to others of what goals as a company are. Some of your goals may involve providing jobs, developing new technology, purchasing equipment for corporate development, or obtaining finances to begin, or continue operation.
Business plans have several crucial key aspects that need to be focused on. These can be separated into sections, with each one explaining how your company will operate as a whole. The first thing that needs to be focused on is your personal introduction. This will provide the reader with a first glance into yourself as an entrepreneur, your companies goals and objectives. A brief explanation about yourself, your history and what has made you decide to create this company will help your reader gain more insight towards what you want to accomplish.
Contents
1. What is an Executive Summary?
a. Example of an Executive Summary
2. Your Company's Mission Statement
a. Example of an Mission Statement
3. Your Vision Statement
a. Example of Vision Statement
4. Your Values Statement
a. Example of Value Statement
5. About Us
a. When do I add an About us Section?
6. Subheadings
b. What are Subheadings?
a. Examples of Subheadings
2. Your Mission Statement
Your mission statement should be a clear and concise depiction of what you want to accomplish with your business. It should include ways that you plan on helping the community, while describing how you are going to help the community and provide career options for other like-minded individuals. Depending on the type of Industry you work in, technical jargon, or business dialogue may be more important to help your audience understand what you are describing to them. Industries that have a more broader audience, will be able to use a type of speech that will draw the reader in, while correctly explaining to them how they will reach their objectives. You should begin this section of your executive summary with the heading, mission statement. You should also include specific information that is relevant to your industry.
Ex.
Mission Statement
"3D printing is precise method of creating objects with mathematical precision. This has allowed the mass production of many different necessary parts, components and tools that we can use to build other forms and Foundations with. Our mission is to develop algorithms, and protocols based on our Software System to determine new methods that can be implemented for today's three-dimensional printing machines.
3. Your Vision Statement
Your vision statement is more of an abstract version of the original thoughts and feelings that provided you with the drive to start your corporation. Depending on the type of industry you work in, your vision statement should express how you will share something that has not been shared before. It will allow you to build something that will benefit those around your vision. An example of a corporate vision can stem from the type of Industry you are working in. A corporate vision statement can describe what you dream your company will look like. It can take into context your current state, and reflect that against outside influences which will determine how you will stand in a future pretense.
4. Your Value Statement
Your value statement is what your company believes in. Your corporate values can be as simple as protecting the environment, creating a recycling program, or providing career opportunities to the surrounding community. But being more specific when you're writing a business plan is better and more explanatory to your potential investors. Industry specific values can be quality, strong customer service skills, authenticity, only using local ingredients, providing careers, protecting the rights of others, cutting down on wasted resources and innovation.
5. About Us Section
a. When do I add an About us Section?
Talking about your company should come naturally. Your business was created by you, so you know more about your company then anyone. About us sections can be-published on multiple platforms, primarily your online presence. They are assorted explanation of your entire company in a nutshell. About us is exactly that, what your company is about. You can also add more details such as your location, where your company comes from, background details associated with your industry time and your area of operation. This section is like a mini biography of your company. An explanation for the reader that will cover all of the important elements all at once.
6. Subheadings
a. What are Subheadings?
A subheading will be listed similar to the a. and b. sections of this table of contents. They will determine what extra details need to be added to each one of the sections of your executive summary.
S.W.O.T Analysis
One of the key elements that are built into a business plan is your S.W.O.T analysis.
Strengths, Weaknesses, Opportunities, Threats
A S.W.O.T analysis takes into account your own marketing strategy, in relation to businesses that are functioning in the same or similar capacity. This information is gathered from market research, and a general consultation process with the business owner or entrepreneur themselves. Your strengths, weaknesses, opportunities and threats will be in direct relation to the active business environment, your financial involvement, your educational history and any socioeconomic fluctuations.
Strengths
The strength of your company will Begin by determining your ability to own and control the company itself. This also is in direct relation to your financial resources, your education level, your experience and your ability to obtain assistance when needed. The strength of your company can also be associated with the strength of your idea itself. If you are working in a environment that allows Niche style marketing, then you will be able to Target your audience and provide more penetration. If you are working in Industry that you are able to provide more affordable products or services for, then your strength should be documented and noted and proven in your S.W.O.T analysis.
Weaknesses
Your weaknesses can be determined by many factors. The first one will be your own limitations. This can be related to your financial limitations, your ability to travel, political changes or legal mandates, outstanding changes to the active environment and your competition. Understanding your weaknesses is your first step to overcome them. Listing your known weaknesses, and comparing them to your active strengths and abilities will help you create a line of action that will help your investors understand how you going to overcome these obstacles. It will also prepare you for any changes, and help you organize your resources so you can end up with the most positive results.
Opportunities
Research and Discovery will depict what your opportunities can and will be. This means taking into account any changes, opportunities or available resources that relate to your business or ideas. Opportunities can also consist of Grant loan opportunities, and different forms of financing that may only come around once in a while. Taking advantage of resources when they are available, and making the most out of them.
Threats
There are many different contributing factors that can be considered threats. The first one will be changes to your company or ideas ability to generate finances, meet your audience, or stay active overall. This can come from internal turmoil, or outside circumstances. Both of these need to be measured, understood and taken into account. When considering internal turmoil, more out issues and different variating factors that may affect your ability to continue working, addressing these issues may be easier because they are under your control. But outside problems such as political changes, legal mandates, the ability to not purchase specific resources or materials, changes to travel arrangements, immigration, social idealism and so forth. These outside influences are more difficult to understand, but understanding them and taking them into account is your first step towards being prepared manage each event.
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