How to Write a Business Plan

You have the drive to succeed with your business, so achieve your goals with WhiteSmoke's help.  Write an effective business plan with our revolutionary writing software - the only tool you need for success.  Impress potential investors when you write with perfect English grammar, spelling, and punctuation.  Improve your vocabulary with our online dictionary and thesaurus.  Instantly see results in your business writing when you click the WhiteSmoke enrichment button, and then see results in your business.

When you write a business plan, you need to persuade your readers to join in your business venture.  For this reason, a business plan should receive careful thought and a high level of proofreading.  The purpose of a business plan is to thoroughly describe your business, and is usually presented to investors to be used as a checklist for business performance.  A business plan will outline precisely what your business is, information about how you will conduct it, your plans to finance it, and other details about finances like potential earnings and losses.  In addition, your business plan writing should describe strengths and risks of your business, tell about the market, discuss goals for the long-term, and serve as a list of benchmarks including milestones you plan to reach.  

If you wonder how to write a business plan, turn to WhiteSmoke's professional templates for guidance.  See a standard format for a business plan that includes section headings for executive summary, mission, company, business, product/service, market, competition, risk/opportunity, management team, capital requirements, financial plan, sales summary, research & development, production, marketing, competition, conclusion, and exhibits.  Fill in our ready-made templates with your details, or use them as a guideline for constructing your own professional business plan.

When you have entered your details into your business plan, don't forget the crucial last step of proofreading.  You will impress your clients and investors with perfect English writing when you use WhiteSmoke's spelling check, English grammar check, and punctuation check.  You will also find useful synonyms through our online thesaurus and dictionary.  Create the best business plan and meet with success.

Business Plan Template

- Product or Service
Executive Summary

For the executive summary needs to succeed,one of its primary functions is to capture the investor�s attention,or a business plan will never sell investors.

Mission

Our company's mission is to (describe our ultimate goal).

Company

The Company was founded in (date) and (describe what the business does). Our principal offices are located at (address:).

Business

We make (describe product, or service we make or provide).

Our company is at the (seed, start-up, growth)stage of business, having just (developed our first product, hired our first salesman, booked our first national order).

Product or Service

The company produces the following products;(list products here briefly, in order of highest sales or significance in product line).

The Market

We define our market as: (state).

Competition

We compete directly with (name competition). Our (product or service) is unique because of (state reasons) and/or we have a competitive advantage because of our (speed to market, established brand name, low cost producer status).

Risk/Opportunity

The greatest risks we have in our business today are (market risk, pricing risk, product risk, management risk).

Management Team

Our team has the following members to achieve our plan. (detail)

Capital Requirements

We seek ($) of additional (equity, sub-debt, or senior financing) which will enable us to (describe why you need the funds, and why the opportunity is exciting).

Financial Plan

Provide a snapshot of the financial position.

Sales Summary

Last Year, This Year, Next Year, Two Years

Sales:

Gross profit:

Pre-tax:

Balance Sheet Summary

Assets:

Liabilities:

Book Value:


In (no. of) years we will provide an exit, which we expect to be in the form of (sale to a competitor, initial public offering, distribution of profits]). We expect to be able to achieve this in (no. of months/ years).

Mission Statement

Our goal is to become (describe the ultimate goal, or insert a mission statement).

The Company

The Company was founded in (date) and (describe what our business does). The legal name of the business is (name).

Strategic Alliances

Our Company has developed important and profitable strategic alliances with the following larger, more established business; (describe).

The Business

Our Company is a (manufacturer, distributor, marketer, service provider) of (describe our product or service).

Product or Service

The company produces the following products; (describe)

Unique features or proprietary aspects of Product:

Our products are unique because of (of secret ingredient, our patented process, our proprietary manufacturing process).

Research and Development

Our research and development is headed by (name) whose major objective is to use market input to (develop products that solve problems or provide superior benefits to customers). Last (period), our R&D yielded the following products and innovations; (list products or innovations).

New and Follow-on Products

Responding to market needs, we plan to follow (product or service) with extensions to our line which include : (describe).

Production

Our (product, service) is (manufactured in house, assembled in house from components from various vendors, service provided by our staff, or subcontracted to field consultants).

Marketing

Our marketing plan is based on the following fundamentals;

We expect to penetrate the (x) segment of the market and achieve this by using the (retail, mail order, multi-level marketing, Internet) as our primary distribution channels). In time, we plan to capture (%) share of the market.

Position

We will position our product as (good value for price, top quality, cheap and fun), which is a position not presently being addressed by the competition.

Pricing

Our pricing strategy is (describe policy or, at least philosophy).

Distribution channels

The distribution channels we use for our product are (wholesalers, catalogers, mass merchant retailers, consolidators).

Advertising, promotion, trade shows

Our purpose is to introduce, promote, and support our products in the marketplace. Although considered a cost, a properly designed and executed campaign is an investment.

Our company participates in the following trade shows; (name).

Competition

We have no direct competition, but there are alternatives to our (product or service) in the marketplace.

Our (product or service) is unique because of (describe) and/or we have a competitive advantage because of our (speed to market, established brand name, low cost producer status).

Risk/Opportunity

Business Risks

Some of the major risks facing our development include (limited operating history; limited resources; market uncertainties; production uncertainties; limited management experience, dependence on key management).

Opportunities

Although our business today has its share of risk, we feel we can overcome these risks because of (describe). We will address (market risk) by (doing a comprehensive study, partnering with a larger company who knows the market).

Management Team

Our team has the following members to achieve our plan. (No. of) men and women who have a combined (no. of) years of experience.

Officers and Key Employees Age Stock

(List)

Ownership

The company has authorized (no. of) shares of common stock, of which [100] are issued and outstanding. The following persons or organizations are significant owners of the company;

Name # Shares Held % Ownership

Professional Support

We have a team of professionals, including;

Corporate Attorney; Accounting Firm; Other Consultants

Board of Advisor's/, Directors

We have secured the assistance and support of the following business and industry experts to help in the decision making, and opportunity pouncing process;

Capital Requirements

We seek ($) of additional (equity, sub-debt, or senior financing)to fund our growth for the next (two years, year, month).

Conclusion

Based on our projections, we feel an (investment in, loan to) our Company is a sound business investment. In order to proceed, we are requesting an (investment, loan)of $(x) by (date).

Financial Plan

Assumptions

The attached projections assume the following;

Income statements

We recommend that financial statements be monthly for the first year or two, then quarterly thereafter. Incorporate year to date figures if they exist.

Sales will increase with the introduction of the (new line, improved line). We plan to introduce these products roughly on the following schedule: (detail here), and we expect to be able to sell at the rate of (x) units per month within (x) months of introduction.

Research and Development, which will appear as a high percentage of sales early, will be reduced as a percentage over time.

Balance Sheet Summary

Comment on any large or unusual items, such as other current assets, other accounts payable, or accrued liabilities.

Cash Flow and Break Even Analysis

We assume that our suppliers will be willing to grant us terms of (state) until we reach monthly purchases of (x).

Exhibits

o Product literature and brochures
o Sales sheets
o Media coverage
o Clips from industry publications
o Relevant patents
o Market research data