Every Entrepreneur Must Understand: Need, Solution, Market, Competition

If you are planning on starting a business at any point in your life, writing a good business plan is absolutely crucial.  You should be able to write a 5-page summary of your business and plan using this business plan template: Need, Solution, Market, Competition.

The following needs to be crystal clear when writing your business plan:

•   What you have done to date and what you plan on doing and the budget for that.

•   Information about what your business is. Is it a partnership, who owns it, how old, location, are there other partners? Information an investor, banker, or community government program, would want to know.

•   How the investor can be involved in the deal you are offering. Note they are not interested in a 10% loan; they want their money to multiply 3-5 times in 3-5 years. What is your exit strategy for them?

email me with questions js@businessplanpw.com