Outline of a complete business plan:
Telling you
how to develop a complete business plan is just not the same as showing you
exactly what needs to be included in one. Below is exactly what you need to
include in your business plan so that you have a decent place to start. Here
is a quick nine-step guide to what you will need in your company's business
plan:
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1.
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The executive summary: The
executive summary is what introduces your business strategy to the reader and
probably is the most important section for lending institutions. If you can't
convince a grant agency in the first two or three pages that you've got a
good business proposal for them to listen to and that you're not going to
leave without some funding to help you get started. This summary is also
important as a communication tool for employees as well as any potential
customers who need to understand your goals and ideas.
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2.
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A small section on company
startup: This section of your business plan is where you have to clearly
explain the thought behind the company's creation and how you or your
business associate came up with the idea to start your business.
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3.
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Your company goal: You
will have to use this section to explain in as few paragraphs as possible
what your short and long-term goals for the company are. How fast do you
think it will grow? Who will be your primary customers?
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4.
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Biographies of management:
This section will be used define your management team and what their purposes
are. This section should include information such as the names and
backgrounds of lead members of the management team and their responsibilities.
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5.
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The product/service you will
offer: This is where it is a must that you include a key piece of
information that needs to be included in this section; which will be a
discussion of how your pharmacy actually differs from every other business on
the market.
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6.
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The market potential: This
is the section where you will really want to remember that you've got to
convince everyone that you're after is relatively large and growing. You'll
need to do some research for this section.
If you’re planning to open a
locally based business, you need to check out the demand for your offering
within a certain radius that is based on what you determine is a reasonable
distance from your business. If you are planning to open a Web-based business
or one that relies on both the Internet and local traffic for revenues,
you'll need to evaluate demand on a local and/or a national basis. You can
also seek to get this type of information online as many different sites will
perform this analysis for you.
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7.
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The marketing strategy:
This is the section where you will have to ask yourself how you plan to tell
the world you're open for business. For example, questions like; Will you
advertise in print, television or on the Web or all of these? Will you use
online marketing tools like search optimization, to get your company listed
on search engines and advertised on other Web sites? You'll also need to
include how much you plan to spend on marketing.
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8.
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A 3-5 year financial
projection: This section should have a summary of your expected financial
forecasts, including spreadsheets showing the method that you used to reach
these projections. You'll want to use your balance sheets, income statements
and cash-flow projections for the entire period that year. The summary in
this section is also where you would tell grant agencies how much money you'd
like to get in order to cover your startup costs. The assumptions that you
make in this section will make or break your company's success. If you're
unsure about using this kind of financial modeling, find a professional.
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9.
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An exit strategy. All good
business plans include a section that lays out the benchmarks you'll use in
deciding to call it quits. The strategy could be based on a specific figure,
revenue growth, the market's reception to your idea, or a consensus among top
officers.
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More information can be found at our company website: biztechmgt.com
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