Semiconductor Industry Key areas that will be explored with eligible businesses include:
For example, to your bank manager or investors. Ask the intended recipient first. Content of a business plan Base the plan on detailed information where possible. But do not include all the detail in the plan. Leave the detail for operational or marketing plans.
Keep the plan short Focus on what the reader needs to know. Cut out any waffle. Make sure there are no spelling mistakes.
Detailed business plans are often quickly shelved, because they are difficult to use on an ongoing basis. Include any detailed information you need in an appendix For example, you might want: Base your business plan on reality, or it may be counterproductive Over-optimistic sales forecasts can lead to increased overheads followed by a cash flow crisis and drastic cost cutting, all of which can seriously damage morale.
Be realistic, even if you are selling the business to a third party. Financiers, business partners and employees will see through over-optimistic plans that ignore weaknesses or threats. Management credibility can be damaged. Make the plan professional Put a cover on it.
Include a contents page, with page and section numbering. Start with an executive summary. This summarises the key points, starting with the purpose of the business plan. Use charts, if helpful. Even if the plan is for internal use only, write it as if it were aimed at an outsider Include company or product literature as an appendix.
Give details about the history and current status of the business. For example, try to imagine the impression the plan will make on your bank manager.
Check that the plan is realistic. Make sure that it includes the evidence to back up what you say perhaps in an appendix or that you can provide evidence if needed. What might go wrong eg if your main supplier closes down or you lose a key customer and what would you do about it?
Concentrate on the executive summary. People often make provisional judgements based on the executive summary.
Only then do they read the rest of the plan to confirm their decision. Show the plan to friends and expert advisers and ask for comments. Which parts did they not understand or find unconvincing? Business and products Explain the history of the business When did it start trading and what progress has it made to date?
Who owned the business originally?
What is the current ownership structure? What are its disadvantages and how will you address these? What are the planned developments? Explain any key features of the industry For example, any special regulations, whether the industry is dominated by a few large companies or any major changes in technology.
Market and competition Describe the market in which you sell Highlight the segments of the market in which you compete. What are the key characteristics of customers in each segment? How large is each market segment? What is your market share?
What are the important trends, such as market growth or changing tastes? Explain the reasons behind the trend. What are the key drivers affecting each important market segment? What is the outlook for those drivers and the market?The National Federation of Independent Business said its optimism index remains strong at in October.
Although down slightly, that was still close to the index’s high. Get the Tools You Need to Launch Your Own Business and Enter a Contest to Win $10, in Seed Funding! Winners.
winners! Victor Hunt (Paragon Real Estate Technologies), Movitsza Simmons (Smooth Pops), and Rebecca Deutsch (Impact Fashion). Page 2 of 26 Business Plan OWNERS Business name: Example Corporation Address: Address Line 1 Address Line 2.
Use this simple formula to build a one-page business plan and jump start your business planning process. Download our free one-page Lean Plan template to get started.
Jun 27, · A business plan is an important tool for managing and growing your business. A well-designed plan lays out a vision of growth and the steps needed to get there. This article is part of our “ Business Planning Guide “ —a curated list of our articles that will help you with the planning process!
What is a business plan? In its simplest form, a business plan is a guide—a roadmap for your business that outlines goals and details how you plan to achieve those goals.