Writing a Business Plan
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Writing a Business Plan: Key Considerations
A business plan is a crucial document for any startup or existing business. It serves as a roadmap for the company’s growth and development, outlining the strategies and tactics that will be used to achieve its goals. There are a number of key considerations that should be taken into account when writing a business plan, including:
Executive Summary: This is a brief overview of the entire business plan, including the company’s mission, products or services, target market, competition, and financial projections. It should be written last, after the rest of the plan is complete, and should be no more than two pages long.
Company Description: This section provides more detailed information about the company, including its history, management team, and ownership structure. It should also include a clear and concise explanation of the company’s mission and vision.
Industry Analysis: This section should provide an overview of the industry in which the company operates, including market size, growth rate, major players, and trends. It should also include a SWOT analysis, which looks at the company’s strengths, weaknesses, opportunities, and threats.
Target Market: In this section, you should define and describe the company’s target market, including demographics, behaviors, and needs. This will help the company focus its marketing efforts and better understand the needs of its customers.
Products and Services: This section should describe the company’s products or services in detail, including features, benefits, and pricing. It should also include information on the company’s unique selling proposition (USP) and how it differentiates itself from its competitors.
Marketing and Sales: This section should outline the company’s marketing and sales strategy, including how it plans to reach its target market and generate leads. It should also include information on the company’s sales process, including how it will close deals and retain customers.
Operations: This section should describe the day-to-day operations of the business, including details on the company’s location, equipment, and inventory. It should also include information on the company’s supply chain and logistics, as well as any partnerships or strategic alliances it has formed.
Financial Projections: This is one of the most important sections of the business plan, as it provides information on the company’s financial performance and growth potential. It should include projected income statements, balance sheets, and cash flow statements, as well as information on funding and investment.
Supporting Documents: The final section of the business plan should include any additional documents that are relevant to the business, such as resumes of key members of the management team, letters of reference, and patents or trademarks.
It is also important to note that while a business plan is often written to secure funding, it should not be viewed as a one-time document. A good business plan should be a living document that is updated regularly to reflect the current status of the company, track progress, and identify areas that need improvement.
In addition, in the process of creating a business plan, It is also important to conduct a thorough research about the market, your competition and the industry as a whole. This will not only help you understand the market better, but also help you identify opportunities and potential threats to your business.
Finally, it is important to have a clear and concise writing style. A business plan is essentially a pitch for your company, so it should be written in a way that is easy for potential investors and partners to understand. This means using simple language and avoiding jargon, and clearly laying out the benefits of investing in your company.
It is also important to have a good layout, that is easy to follow and understand, highlighting the key points and
Writing a Business Plan
RUBRIC
Excellent Quality
95-100%
Introduction 45-41 points
The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.
Literature Support
91-84 points
The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.
Methodology
58-53 points
Content is well-organized with headings for each slide and bulleted lists to group related material as needed. Use of font, color, graphics, effects, etc. to enhance readability and presentation content is excellent. Length requirements of 10 slides/pages or less is met.
Average Score
50-85%
40-38 points
More depth/detail for the background and significance is needed, or the research detail is not clear. No search history information is provided.
83-76 points
Review of relevant theoretical literature is evident, but there is little integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are included. Summary of information presented is included. Conclusion may not contain a biblical integration.
52-49 points
Content is somewhat organized, but no structure is apparent. The use of font, color, graphics, effects, etc. is occasionally detracting to the presentation content. Length requirements may not be met.
Poor Quality
0-45%
37-1 points
The background and/or significance are missing. No search history information is provided.
75-1 points
Review of relevant theoretical literature is evident, but there is no integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are not included in the summary of information presented. Conclusion does not contain a biblical integration.
48-1 points
There is no clear or logical organizational structure. No logical sequence is apparent. The use of font, color, graphics, effects etc. is often detracting to the presentation content. Length requirements may not be met
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