You wouldn''t consider taking a cross-country trip without a road map, would you? Nor would you begin to build a house without blueprints. The same type of planning is needed when embarking on a new business but you would be surprised how many people set up shop without this essential foundation. Your business plan should be the basis for your e-commerce site and it deserves the most attention. Since this lays the groundwork for all other e-business responsibilities, it is worthy of the most time and consideration. It acts as your outline toward achieving success and maps out the necessary steps for start-up and operation. Once the plan has been created, all the other procedures for developing your front and back-end systems will fall into place.
An effective business plan acts as the key piece of material that you present to investors and supporters who are interested in your e-business. It should be positive and enthusiastic without hype and unrealistic expectations. Also, be sure not to include confidential or sensitive information as a business plan can be circulated among many individuals.
Make it clear and easy-to-understand, avoiding highly technical information. Realize that some of the "money people" reading your plan may be from a different generation from you and your potential target audience, so write professionally without relying on overly-cool terms and expressions. Some great ideas never come to fruition because the business plan isn''t clear or written well.
A thorough business plan could be a collaborative effort among the company principals and should contain the following pieces of information:
- A cover page that conveys a professional image.
- The Executive Summary -- essentially an overview of the entire plan. It''s easier to write this portion last.
- A comprehensive description of the company with clearly defined goals and objectives.
- The purpose of the business and why you feel there is a need for this product/service.
- An in-depth explanation of the products and/or services that are being sold.
- Brief biographies of the management team and their respective qualifications.
- Identification of the equipment, supplies and resources needed to operate this business.
- An outline of the sales and marketing functions of the business including the demographics of the target market.
- Determination of the competition in the sector and plans on how to achieve dominance. Pricing structures should be detailed as well.
- Money -- estimate the costs of start-up and daily operations, as well as projected expenditures and financial forecasts.
- Conclusion -- reinforce your commitment to the business and discuss what you plan to achieve during a realistic timeline.
Remember that you are basically pitching your company''s ideas and concepts so you should be certain that your business plan makes a great impression.
Maximum Impact takes a look at the art of developing strategic business plans.
These resources can assist you in writing your plan:
Creating an Effective Business Plan
Bplans.com
Write Your Business Plan
BestBizPlan.com is a service that will write it for you.
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