Don’t let anyone tell you differently; small businesses need business plans just like any other business. A professional business plan can help you to establish internal process, define your mission statements and give you an overall direction. Business plans can also help you to gain funding for starting up or for scaling up depending on where you are in your business cycle. Let Boxing Frog Marketing help you to establish your business plan!
Business plans serve many purposes for all sizes and types of businesses. Just because a business is small does not mean it does not need a business plan and likewise, if a company already has a business plan updates are always good. Like a roadmap, a business plan serves as a directional to organize a company, where it is going and what it’s goals are.
Whether the business plan is to raise funding, keep corporate organization or just be a reference for incoming employees all companies need business plans. So what exactly included in a business plan varies by its goals but here are a few integral parts on a very basic plan:
A short synopsis, like a more in-depth elevator pitch, about your company, goals and what impact you want to have in your market space.
Business plans can be short (10 pages) or they can be long (50+ pages) and the executive summary provides samples and tidbits about what is detailed in those pages. Key information from every category will be shared in this section. This is the most important part when trying to obtain funding since many investors will only really read this.
Your marketing plan in a nutshell including demographic, promotional plan, budget and the overall branding your company puts forth.
If you plan to sell your business off in a number of years or vacate your active role within the company this is where you need to plan it out.
Different from marketing strategy, market analysis goes in depth to your market to look at more detailed demographics, financial opportunity and competitor analysis.
Whether you offer a product or service, this is where you will detail this. Pricing strategies will be included here as well.
Financials and Projections
This is where you will go into more detail about what you expect to profit from your business in one year, 5 years or longer. Projections are based on current market share and if you’re a new business it is an estimate based on market volume and potential share.
If you need a knockout business plan, contact Kristin Peregoy at Boxing Frog Marketing LLC at 303-495-8714 or at email@example.com Find out more about us at boxingfrogmarketingLLC.com