Business Plan

Quite often, people that are skilled at their craft decide to go into business for themselves. Although they may be experts in their field they sometimes lack the "business" experience to successfully run a small business.

This is why it is vitally important to develop your blueprint: a business plan, to build your business. We can help: the Small Business Development Center (SBDC) Business Advisors will review your business plan with you (free service).

Elements of a Business Plan

These are the basic elements that are important to include in your business plan:

  • Cover Page
  • Statement of Purpose
  • Table of Contents
  • Executive Summary - This segment of your plan should summarize your business goals and objectives. Demonstrate that you are committed to the success of your business.
  • The Business
    • Description of the business - Business name, address and the owner’s name. Identify your goals and objectives, clarify why your business is viable.
    • Marketing - Address basic questions such as: Who, and how large is your market? How will you be competitive? How will you determine your pricing and what are your terms? How will you market your products or services?
    • Competition
    • Operating - Identify and describe the equipment, facilities, and people necessary to generate your product and services. How will your products and services be produced and distributed?
    • Procedures
    • Personnel
    • Business insurance
  • Financial Data
    • Capital Equipment (list)
    • Balance Sheet
    • Breakeven Analysis
    • Income Projections, 3 years
      • Detail by month, first year
      • Quarterly detail, 2nd/3rd years
      • Assumptions upon which projections were based
      • Pro-forma cash flow
  • Supporting Documents
    • Licenses and other legal documents
    • Resumes of all principals
    • Letters of intent from suppliers/clients
    • Proposed lease agreements for space

Business Plan Development Help

In addition to the Small Business Development Center (SBDC), your public library and the Secretary of State’s Business Information Center can also help.