Business Plan Competition

What is a Business Plan?

A business plan defines your business. The information within the document is very specific and serves as the vehicle to define your goals and attract outside funding.

What goes into a business plan?

There are many formats that can be used when writing business plans. However, there is much consistency as to the type of information contained within. Some of that information includes the following:

1. Executive Summary: This is an articulation of the opportunity and an exciting and effective overall summary of the entire business plan. This section should only be one to two pages in length.
2. Marketing: The focus of this section includes details about the target market, selling premise, trends, customer profiles, potential market share, etc.
3. Operations: Included are the plans for production, delivery of product or services, resources, technology, etc.
4. Competitive Analysis: Positioning, competitors, potential entrants, barriers, advantage, etc. are the focus here.
5. Management Structure: Background/skills of key individuals (please see the section on Confidentiality.)
6. Financial Plan: How will this business make money? Include an income statement and cash flows projections to five years (Year 1 by month, Years 2 and 3 by quarter, and Years 4 and 5 by year).
7. Consistency: Ask yourself, "Do the sections relate?" (e.g., marketing to finance, investments in line with the financials, etc.)