Typically, you should include a Profit & Loss statement, a Cash Flow forecast, and a Balance Sheet.
These are the key business plan elements that should start and end your plan.Īt a minimum, your appendix should include your financial forecasts and budgets. End with supporting documentsĪll business plans should start with an executive summary and end with your supporting documents-an appendix of key numbers and other details that support your plan. We have a more detailed guide on writing an executive summary if you want additional tips on this critical business plan section. You need to explain things simply so that anyone can understand your opportunity. Remember that people who are reading your executive summary don’t know anything about your business before they start reading. A common strategy is to send your executive summary out to investors and then send out the complete plan when more detail is requested. Your executive summary should also be able to stand alone, without the rest of your plan. Keep things short and concise your readers don’t have a lot of time and want to be able to get a quick overview of your business, so they can decide whether or not they want to read more. Ideally, your executive summary should fit on one or two pages. If you’re raising money or presenting your plan to outsiders, you’ll also want to cover: Why the timing is right for your business.Your solution to the problem (i.e., your product or service).The problem your business is addressing.Every executive summary should include a very brief overview of the following: It’s an essential business plan section to include-and get right. If you don’t nail the executive summary, no one is going to read any further. The executive summary introduces your business to your reader. Here are my top eight tips to make sure your business plan accomplishes what it needs to do. If you’re using your plan just for internal use, then maybe you can focus less on the final presentation.Įither way, getting the formatting right for your business plan is important. If you’re using your business plan to raise money, then your plan needs to impress (as well as contain specific business plan components). There isn’t one right way to organize your plan, but you do need to make sure that it’s professional, includes the information your audience wants to see, and is formatted correctly. The format of your business plan will help you achieve these goals, so it’s important to think about the plan’s structure as you build it. Your business plan should accomplish certain goals: raise money, guide your team, and set strategies for growth.
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