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How to Write a Business Plan

Watch more How to Start a Business videos: Subscribe to Howcast's YouTube Channel - If you write a business plan, follow these steps and cover all the bases. Howcast uploads the highest quality how-to videos daily! Be sure to check out our playlists for guides that interest you: Subscribe to Howcast's other YouTube Channels: Howcast Health Channel - Howcast Video Games Channel - Howcast Tech Channel - Howcast Food Channel - Howcast Arts & Recreation Channel - Howcast Sports & Fitness Channel - Howcast Personal Care & Style Channel - Howcast empowers people with engaging, useful how-to information wherever, whenever they need to know how. Emphasizing high-quality instructional videos, Howcast brings you experts who provide accurate information in easy-to-follow tutorials on everything from makeup, hairstyling, nail art design, and soccer to parkour, skateboarding, dancing, kissing, and much, much more. Step 1: Detail executive summary Detail an executive summary with a brief mission statement. Include names of partners and employees, functions, services rendered, and business location. Step 2: Provide market analysis Provide a market analysis that reflects your knowledge of the industry, the industry's outlook, target markets, and an evaluation of the competition. Tip Gathering information on regulatory restrictions that affect your business is essential. Step 3: Describe company Include a snapshot of the company with organization and management described, including salary and benefits. Add the ownership information, clarifying legal and practical involvement. Step 4: Define market strategy Define your market strategy with information on penetration, channels, and growth. State communication and advertising decisions and your overall sales strategy, identifying prospects. Step 5: Present products Present your product line, emphasizing distinct advantages with a target public. Give patent or copyright information. Relate any ongoing research and development. Step 6: Request the money When requesting an investment, present positive and negative funding scenarios and needs over the coming five years. Make capital expenditures, working capital, debt retirement, and acquisitions clear. Tip It is better to be accurate and honest than to project successes that might not materialize. Step 7: Detail financials Detail your financials, historical and prospective, capturing realistic quarterly and yearly projections. Step 8: Add the appendix Add an appendix with supporting information. Provide credit history, resumes, references, market studies, licenses, leases, contracts, and names of consultants. Did You Know? Did you know? According to the Small Business Administration, only 67 percent of businesses make it past two years.
Length: 02:17


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