OUTLINE - BUSINESS PLAN
The purpose of the business plan is to provide the potential business owner with a
document that fulfills three major functions:
1. A document that
outlines the business and its financial
needs for use in approaching sources of funding for the business
The bank, venture capitalists, or even friends and relatives
provide funding for you
unless they see a formal plan for the business. (this is the major purpose of the plan in this
2. Creating the business plan is a
planning process that forces
you to think through the business
, the ambiance within which it operates, your
particular strengths and weaknesses, the feasibility of the idea, the marketing plan, etc.
helps prevent you from overlooking potential
, or missing outstanding potential
opportunities, either by commission, or omission.
3. It is a
"living", continuous planning and control
document that should be constantly updated, and used to review
with respect to your original plans, and to correct your course based
upon new opportunities, unrealized targets and goals, and unexpected problems or
Please understand that the following is only meant as a checklist that will tickle your
mind, and stimulate your thinking about your plan.
Include only what is appropriate, and
understand that there may be areas of critical importance to your plan that are not included
in this outline, but should be included in your business plan.
No outline can ever completely
cover all types of business opportunities, industries, or situations.
This is a guide – to help
THINK THROUGH THE PROCESS OF CREATING YOUR BUSINESS!
A. COVER PAGE
- Your cover page should include the following basic information:
1. Firm name, address, phone number.
2. Principals of the firm, with full addresses and phone numbers (normally you
would not put all of this address info on your business plan - for the purposes of this CLASS
exercise you will do so, please, so I can always contact you).
3. A security acknowledgment and control number to be used as a protection
mechanism that helps somewhat to prevent someone from stealing your idea when you start
showing your plan to others for funding and advice.
This cover page has a critical role in creating a quality image and impression for your
It is absolutely essential that you