Writing a Business Plan

Writing a business plan

Create a solid overview of your business to share with investors, banks, and partners.

Published: June 23, 2014
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The first step of any successful business is a sound business plan.

Your business plan:

To create your business plan, complete the following:

First, define your business with an executive summary. Give a concise and compelling introduction. Review your history and milestones.

Delve into the details of your product or service

Include benefits, competitive advantage, copyright/trademark status, and research and development plan.

Outline your strategy

Define your customers, industry, and competitive landscape.

Introduce your leaders

Describe how they are organized and their credentials.

Develop your financial plan

Detail the amount of funding needed. Include past and projected income, budgets, cash flow, etc.

Differentiate yourself

Remember to find a format that works for your business and can be tailored to your audience, and keep your business plan up to date with changes in customer needs and economic conditions.

Appendix

Add supporting financial documents, statistical analysis, product-marketing materials, resumes of key employees/managers, detailed supporting research, etc.

The benefits of a business plan

It helps you shape a strategy, communicate credibility to investors and lenders, clarify goals, and demonstrate an action plan.

Source: https://wellsfargoworks.com/start/writing-a-business-plan © 1999 — 2014 Wells Fargo. All rights reserved.

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