I mentioned that the 'writing of a business plan' as one of the pivotal steps involved in setting up a successful business. By now you should understand the need for writing a business plan. Writing a business plan, for a traditional brick and mortar business, will probably take a lot of time. It may take up to 100 hours or even more. For obvious reasons, a new business needs to carry out a lot of research before a business plan can even be developed.
A business plan is a formal statement of business goals, reasons they are attainable, and plans for reaching them. It may also contain background information about the organization or team attempting to reach those goals.
Personnel: The success of any company depends on their ability to recruit, train and retain quality employees. The amount of emphasis in your plan for this section will depend on the number and type of employees required.
Detailed Description: This is where you describe the main parts or components that make up your invention, how your invention works or what it does, its main features, and method or intention of use. An example of main parts may include a container with lid, a motor for spinning, etc.). Examples of main features may include dishwasher safe, automated functionality, ease of use, etc. And, method of use examples could be: step 1, press red button to turn on, or pull white knob to make it move.
business plan outline
one page business plan template
business plan step by step