Our Approach
Executive Summary
An executive summary shouldn’t exceed one page. Admittedly, that space constraint can make squeezing in all of the salient information a bit stressful—but it’s not impossible. Here’s what your business plan’s executive summary should include:
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Business concept. What does your business do?
Business goals and vision. What does your business want to do?
Product description and differentiation. What do you sell, and why is it different?
Target market. Who do you sell to?
Marketing plan. How do you plan on reaching your customers?
Current financial state. What do you currently earn in revenue?
Projected financial state. What do you foresee earning in revenue?
The ask. How much money are you asking for?
The team. Who’s involved in the business?
Company Overview
This section of your business plan should answer two fundamental questions: Who are you, and what do you plan to do? Answering these questions provides an introduction to why you’re in business, why you’re different, what you have going for you, and why you’re a good investment bet.
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Your business structure (Are you a sole proprietorship, general partnership, limited partnership, or an incorporated company?)
The nature of your business (What are you selling?)
Your industry
Your business’s vision, mission, and values
Background information on your business or its history
Business objectives, both short and long term
Your team, including key personnel and their salaries
Market Analysis
It’s no exaggeration to say your market can make or break your business. Choose the right market for your products—one with plenty of customers who understand and need your product—and you’ll have a head start on success. If you choose the wrong market, or the right market at the wrong time, you may find yourself struggling for each sale.
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How big your market is ?
TAM, SAM, SOM
SWOT, PESTEL
Competitive Analysis
Products & Services
Your products or services will feature prominently in most areas of your business plan, but it’s important to provide a section that outlines key details about them for interested readers. If you sell many items, you can include more general information on each of your product lines; if you only sell a few, provide more detailed information on each.
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Sales & Marketing Implementation
In this section, the first thing you want to do is explain your marketing strategy, and how you will promote your app to potential customers. You’ll also want to include details like how much the app will cost, how customers will hear about your app, and how customers will buy and get your app. Essentially, you want to explain how you will show people your product, how you will get people to buy it, and what happens once people buy your app. In order to describe this, you’ll need:
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Branding is clear and amplifies your app’s purpose
An in-depth strategy for how your product will reach target users
Feedback from target users integrated into marketing plan
Details about pricing, promotions, and distribution of the app
An explanation of how the company will function, from when the app is produced to when the app is delivered to the customer
Information on the number and types of employees you have or will need
Financial Plan
For your last section, you will need to give a monetary explanation for how you will achieve all of the things you described in your business plan—this is coming from the Entrepreneurship 7 & 8. This is a key piece that ties everything together. You need to show that your plan is achievable and how your business will be successful! Use tables and graphs to show the information in a simple format.
The key parts of your plan are:
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Budget that clearly explains your revenue model and projected operating costs
How much money you have now and how will you use it
How much money do you plan to make in the next 3-5 years and how (profit projection)
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