What to write in a Business Plan for Your Internet Business
The first step to starting any business is writing a business plan.
Listed below is a business plan outline, listing the sections of the business plan in the order in which they will appear in your completed business plan with a brief explanation of each section to help you get organized and guide you through the writing of a business plan.
Here are the major sections
The Executive Summary
While appearing first, this section of the business plan is written last. It summarizes
the key elements of the entire business plan.
An overview of the industry sector that your business will be a part of, including industry trends, major players in the industry, and estimated industry sales. This section of the business plan will also include a summary of your business’s place within the industry.
An examination of the primary target market for your product or service, including geographic location, demographics, your target market’s needs and how these needs are being met currently.
An investigation of your direct and indirect competitors, with an assessment of their competitive advantage and an analysis of how you will overcome any entry barriers to your chosen market.
A detailed explanation of your sales strategy, pricing plan, proposed advertising and promotion
activities, and product or service’s benefits.
An outline of your business’s legal structure and management resources, including your internal management team, external management resources, and human resources needs.
A description of your business’s physical location, facilities and equipment, kinds of employees needed, inventory requirements and suppliers, and any other applicable operating details, such as a description of the manufacturing process.
A description of your funding requirements, your detailed financial statements, and a financial statement analysis. This is usually an Excel Spreadsheet that breaks down each financial aspect of the business.
Appendices And Exhibits
Any additional information that will help establish the credibility of your business idea, such as marketing studies, photographs of your product, and/or contracts or other legal agreements pertinent to your business.
It’s a pretty thorough document, but it is required when starting anything on your own, for three reasons.
1. It helps you articulate your business and your vision.
2. It will help you place yourself in the marketplace strategically.
3. If you need start up capital, banks will need to see it
If you need help writing a business plan, I can help, as I have written a many business plans; where I was rewarded with over $2M for my first company TransModeling, Inc, and $6M for EVE, SA. In a first round funding with over $12M in the second round!