One tip for writing an effective business plan outline is to start with an executive summary to pique the interest of the reader. The exact structure of the plan outline is variable, but should detail the opportunities present, who should deliver key ideas, and what financing is required for it.Continue Reading
The financial numbers in the outline should be accurate and realistic. Make sure projected numbers have been rigorously researched and can be backed up. Information about the costs of the project should include the salaries of the participants, and those salaries should not be overly high. The plan should also be transparent regarding the likelihood of losses and financial strains within the first few months of operation.
The description of the opportunities present must detail how the opportunities can be exploited profitably and how the business intends to do so. This means providing solid evidence of market demand for the kind of product provided by the business, detailing who the customers are and explaining the marketing efforts intended to reach the customers. The outline should also document a clear and cost-effective path to this target market. Finally, the plan should be honest about any existing competitors and how the market is likely to change in the next few years as well as how the business plans to adapt to changing conditions.Learn more about Managing a Business