For entrepreneurs who have just started their business or for those who are already fully established, having a business plan is essential. Let's not forget that to know where we are going, it is necessary to know where we come from. Therefore, below we will talk a little about the key elements in a business plan for entrepreneurs.
Executive Summary
This is a one or two page summary, detailing the business plan. It is often easier to write a executive Summary after having presented all the details within the business plan itself.
Business description
In the description of the business should include and define different aspects of the service offer, the track record in the industry, as well as any relevant current events, as well as personal goals, the elements that add to business success and ownership. It is basically the backbone of your business plan that allows you to prepare the ground for the information included in the rest of the plan.
Products and services
As an entrepreneur, you have a product or service that you are offering to a potential customer. You must be able to describe what you are selling, as well as determine what makes your product or service unique.
Sales and Marketing
In this section you should take into account your segment or industry, the market situation, in addition to general costs, the way in which the company is acquired, as well as the opportunity to differentiate yourself from the competition. If you have a website, consider offering samples or demonstrations of your product, use images or photographs to show your products, inform about the equipment you use, as well as the methods of product delivery, etc.
Operations
This point in the business plan is intended to help define the most administrative side of your business, including the way it operates, where the office is located, the personal assistant or, where appropriate, the work team, the overhead, etc.
Other aspects to consider include team management, development, in addition to the financial summary, where a record of all financial transactions, investments is provided and the way in which the current business position was achieved is detailed.