154

The Business Plan

Each plan, like a snowflake, must be different.

—Joseph Mancuso

OUTLINE

LEARNING OBJECTIVES

After reading this chapter, you will understand

• why it is important to write a business plan.


• the elements of a business plan.


• how to write a business plan.


• the kinds of questions people will ask about your business plan.


• how to respond to evaluations of your business plan.

CHAPTER

5

Why Write a Business Plan?
The Costs of Planning
The Benefits of Planning
Elements of the Business Plan
Preliminary Sections
Outline
Cover Page
Table of Contents
Executive Summary
Major Sections
Outline
Background and Purpose
Objectives
Development and Production
Market Analysis
Sales Forecasts
Financial Plans
Organization and Management

Ownership

Critical Risks and Contingencies

Concluding Sections

Summary and Conclusions

Scheduling and Milestones

Appendixes

Critiquing the Plan

General Criteria

Specific Criteria

Exit

Format and Presentation

Physical Appearance

Writing and Editing

Summary

Appendix: Babyyourway.com business plan

Appendix A: Financials

Appendix B: Production Requirements