BUSINESS

PLAN

By Sonia Arellano
What Are -A business plan is a formal statement of
business goals, reasons they are
Business attainable, and plans for reaching them.
Plans? It may also contain background
information about the organization or
team attempting to reach those goals.
Some  Executive Summary
 Company Description
components of a  Products & Services

Business Plan  Market Analysis

 Strategy & Implementation
 Organization & Management Team
 Financial Plan & Projections
Why are • A business plan conveys the
organizational structure of
they your business, including titles of
important? directors or officers and their individual
duties. It also acts as a management
tool that can be referred to regularly to
ensure the business is on course with
meeting goals, sales targets or
operational milestones.
How could -They can help you manage
your business more effectively. ... A plan
they help can detail alternative future scenarios
you? and set specific objectives and goals
along with the resources required to
achieve these goals.
Advantages • Realistic regular reminders to keep on
track.
of A • Milestones
business • Manage cash
Plan… • Develop accountability.
• Manage change.
• Set priorities.
• See the whole business.
• Strategic Focus
Disadvanta • forces you to think realistically, objectively
and unemotionally about your business

ges of A • leads to questioning of past and future

assumptions
business • makes it easier to communicate planning
objectives and strategies to bankers,
plan… partners, employees, financial backers and so
on
• helps to ensure that all aspects of the plan are
clear and integrated
• allows you to identify any areas where you
may need external assistance
• allows you to plan the growth of your
business and associated capital requirements.