Building a Business Plan

Part 1: Executive Summary

• The Executive Summary of a Business Plan is a 3-5 page introduction to your Business Plan.
• The Executive Summary is critical, because many individuals (including venture capitalists) only read the summary.
• The Executive Summary section includes:
• A first paragraph that introduces your business.
• Your business name and location.
• A brief explanation of customer needs and your products or services.
• The ways that the product or service meets or exceeds the customer needs.
• An introduction of the team that will execute the Business Plan.
• Subsequent paragraphs that provide key details about your business, including projected sales and profits, unit sales, profitability, and keys to success.
• Visuals that help the reader see important information, including highlight charts, market share projections, and customer demand charts.

Part 2: Business Concept

• The business concept shows evidence that a product or service is viable and capable of fulfilling an organization's particular needs.
• The Business Concept section:
• Articulates the vision of the company, how you plan to meet the unique needs of your customer, and how you plan to make money doing that.
• Discusses feasibility studies that you have conducted for your products.
• Discusses diagnostics sessions you had with prospective customers for your services.
• Captures and highlights the value proposition in your product or service offerings.

Part 3: Market Analysis

• A Market Analysis defines the target market so that you can position your business to get its share of sales.
• A Market Analysis section:
• Defines your market.
• Segments your customers.
• Projects your market share.
• Positions your products and services.
• Discusses pricing and promotions.
• Identifies communication, sales, and distribution channels.