Writing the Executive Summary
An executive business plan summary should outline basic facts about the enterprise. When writing this section, assume you are talking to investors, so you need to use pitch-style narratives to grab their attention and keep them interested in learning more about the proposal. Items that you may consider in this summary include the business name, products, and services that will be sold to customers, as well as the characteristics of potential clients or the desired market profile of the proposed enterprise.
Describing the Company
Please include details relating to the business name, address, and characteristics of employees in this section of the business plan. The proposed business’s structure and legal status should be included in this section of the business plan. The legal status of a business may be represented in the form of a partnership, limited liability company, or even sole proprietorship.
Business owners who want to start enterprises involving more than one person may be required to furnish additional information about the ownership structure and relationship among the partners involved. Depending on the jurisdiction involved, business owners may be expected to provide further data on potential roles these partners will play in running the business.
Analysing the Market
Provide evidence-based data regarding the proposed business’s industry and target market. Depending on the type of business involved, provide additional information about supply and demand patterns, industry trends, and competitive environment. The impact these factors will have on the company may be assessed in the format of a PESTLE analysis. It includes discussions on the effect of the prevailing political, economic, social, technological, and environmental variables on a business’s operations. You may equally consider conducting a SWOT analysis in your discussion. It should discuss the business’s potential strengths, weaknesses, opportunities, and threats. This analysis could be presented in the format outlined in Table 1 below.
Table 1. SWOT analysis template (Source: Developed by Author).
Presenting the Products and Services
Describe the products or services that will be sold in the new business. Provide details on how the products or services will fit the existing market structure. Alternatively, describe the value of the proposed enterprise to the market if a new or novel is involved. Products or services linked to patents or trademarks should be described equally in this section. The pricing plan may similarly be outlined in this business plan section.
Developing a Marketing Plan
Prepare a marketing plan that explains how you will make your potential customers aware of the new business. Typically, marketing plans entail a detailed description of the 4Ps of marketing, which include the development of product, place, price, and promotion strategies.
Similarly, provide details regarding how you will communicate your ideas or details about your products or services to the customers. For example, will you communicate with social media, television, or email?
Regardless of the communication channel chosen for review, the marketing plan should contain details on how you tend to promote the business to existing and potential customers. The communication plan should be consistent with the details in the market analysis described above.
Providing a Logistics and Operational Plan
This section of the business proposal should be consistent with the nature of operations in the proposed enterprise. For example, a business that intends to sell goods may be required to provide additional information about warehousing requirements. The same types of companies may require the inclusion of storage costs in their financial projections. Service-oriented businesses may need to review different operational planning structures compared to those selling products. Overall, details relating to suppliers, shipping, and order fulfillment plans should be included in such assessments.
Assessing Feasibility
Prepare an annual forecast of the business’s revenues and costs. These financial projections may be further extended into five or ten-year forecasts. They may include information relating to sales, operational costs, debts, and taxes that would affect the business’s financial health. Table 2 below is a template for developing a business’s income projection.
Table 2. Template for income statement (Source: Developed by Author).
Details relating to the financing plan should be included in this section of the business proposal. Possible sources of finances discussed in this review include loans, savings, angel investors, sponsorships, and contributions from partners.
Formulating the Conclusion
In this last part of the business proposal, summarize the key tenets of the business plan. This section of the review may equally include a discussion of steps for implementing the business plan and any Key Performance indicators (KPIs) that ought to be met within specific timelines.
