Business plans are documents that force you to think through all the moving parts of any new business. It helps to put your thoughts down and analyze the new venture. Often business plans are used for raising funds and getting buying from other stakeholders.
Business plans are an important way of analyzing any new business opportunity. It's easy to get excited about new ideas, but a well written business plan helps to flush out your ideas. It will provide you with the research and backup you need to convince others to approve it, invest in it or become future clients of yours.
Executive Summary: Describe the problem you are solving and ultimately the need for your target market. It's important to include market analysis to back up your points. Explain how your solution fits in to solve the problem you have identified.
Business Overview & Key Objectives: Your main goal with this section of your business plan is to explain why your business is in the right place at the right time.
Marketing Plan: Provide an overview of your market size, statistics, and penetration.
Competitive Analysis: Compare your competitors from features, customers, revenue, market penetration and future outlook.
Design & Development: In this section you'll want to show-off the core functionality of your product. Hone in on your core features and features your customers most appreciate. Be sure to include any new game-changing features you plan to add.
Operational Plan: This is your opportunity to provide brief bios of your core team, along with their experience. Point out experiences that translate over to your industry and their job function.
Financial Forecast: Include a cash flow forecast, initial investment, and timeline for profitability. This is your opportunity to showcase your current run-rate, cash flow and projections.
Appendix: If you have any additional charts or further details you want to reference, add them to your appendix section.
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Recommended power links and files you can add to your Bit document business plan: