Additionally, if you already have a business, but have never created a business plan for it, it’s never too late to do so.
Creating a business plan now will get you organized and ready for 2018 and beyond.
Also, you can work with an accountant or business consultant to develop this section of your plan, but remember that it will evolve as your business grows.
Step 7: Include Resources and References The last section of your business plan should be an appendix with any documents, studies, surveys, licenses, and research referred to elsewhere in the plan.
Step 8: Review Your Business Plan and Write the Executive Summary Finally, you’re ready to review your work and finalize the executive summary you outlined in Step 1.
Make sure your business plan presents a cohesive, compelling picture of your business in a thorough and professional format.
Also, you can split this section into the following four subsections: Step 6: Write a Financial Plan Ask yourself questions such as how will your business spend and make money, and how long will it take for your business to become profitable?
These are questions you will need to answer in the financial section of your business plan.
If you are planning to go to a local bank for a business loan, or are approaching your sphere of influence for backing who you know is accustomed to seeing legit business plans, then you know you probably need to create something that they understand in a format they are comfortable with.
Business plans and pitch decks are two different things. Yet, one is for presenting and specifically for getting funding from angels and VCs.