At some point, preferably before you begin your new venture or launch your company, you need to create a business plan. Not necessarily for funding but to thoroughly examine your potential marketplace, to help determine a true competitive advantage and to assist in the development of your marketing positioning.

All too often, an entrepreneur feels he/she can just launch their business and do the planning later. Take the time to really plan your business. A sample suggested outline is listed below.

Possible Business Plan Outline:

1. Summary
• Business concept
• Current situation
• Key success factors
• Financial situation/needs
2. Vision
• Vision statement
• Key milestones
3. Market analysis
• The overall market
• Changes in the market
• Market segments
• Target market and customers
• Customer characteristics
• Customer needs
• Customer buying decisions
4. Competitive analysis
• Industry overview
• Nature of competition
• Changes in the industry
• Primary competitors
• Competitive products/services
• Opportunities
• Threats and risks
5. Strategy
• Key competitive capabilities
• Key competitive weaknesses
• Strategy
• Implementing strategy
6. Products/services
• Product/service description
• Positioning of products/services
• Competitive evaluation of products/services
• Future products/services
7. Marketing and sales
• Marketing strategy
• Marketing positioning
• Sales strategy and tactics
• Advertising tactics
• Promotions/incentives
• Publicity tactics
• Online strategy and tactics
• Event marketing
8. Operations
• Key personnel
• Organizational structure
• Human resources plan
• Product/service delivery
• Customer service/support
• Facilities and equipment
9. Creating the financials of the business plan
• Assumptions and comments
• Starting balance sheet
• Profit-and-loss projection
• Cash flow projection
• Balance sheet projection
• Ratios and analyses

For more help see our business plan library.