An efficient business plan includes an executive summary; a profile of the company; analyses of the industry, target customer base and competition; plans for operation, marketing and generating revenue; and a description of the management team with relevant history, according to Forbes. The plan should also include a professional cover page with contact information for the convenience of potential investors.Continue Reading
The executive summary is of utmost importance to investors because it informs them of the nature of your business and the elements that are likely to make it succeed, reports Forbes. List these items in a clear format to avoid confusion. The profile of the company follows this summary, including location, history and any achievements, if it is already functioning. Address the legal nature of the company in this section. The analyses of the industry, target customers and competition help investors envision the potential of the company more specifically.
The other sections let investors know the plan for the day-to-day functioning of the company and who is in charge of such functions, explains Forbes. Elaborations of operations and promotional strategies help set certain objectives and lay a base for financial projections on how the company plans to turn a profit. Detailing the history of the people in charge of these tasks gives investors an idea of why they are qualified to be in charge of achieving the set goals.Learn more about Managing a Business