Are you ready to launch that new business venture or search for investors to further take your thriving business to the next level? The adage by Benjamin Franklin states, “If you fail to plan, you are planning to fail.” With a Business Plan you are planning for success!
The business plan is a critical document as it has serves multiple purposes and just developing the plan will force you to look at all aspects of your business by developing a S.W.O.T. analysis, develop a marketing strategy to hit your target market, attract the right customers, and increase your market share with those customers.
Consider your business plan the constitution of your business that aligns your operations with your mission, vision, and values. It also works as your organization’s playbook as you can tailor it identifying strategies based on the changes in the market or the industry you serve. And just like a playbook, the business plan too must be customized. Depending on your target audience or reader, modifications must be made, especially in the Executive Summary.
Developing a strong Executive Summary that is clear and concise will keep your reader captivated to continue reading and be just as excited about your business as you are in building it. A well-crafted Executive Summary will be the key in attracting investors or qualified executives you will need for your business. The Executive Summary is also the last thing created when developing a business plan so it is important to construct a strong foundation for your entire business plan to stand out.