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New versions of Microsoft Office have
decent templates for business plans (Word) and the related
financial planning documents (Excel). Introduction: Provide a detailed description of the business and its goals; discuss the ownership of the business and the legal structure; list the skills and experience you bring to the business; discuss the advantages you and your business have over your competitors. Marketing: Discuss the products/services offered; identify the customer demand for your product/service; identify your market, its size and locations; explain how your product/service will be advertised and marketed; explain the pricing strategy.Financial Management: Explain your source and the amount of initial equity capital; develop a monthly operating budget for the first three years; a monthly cash flow for the first three years; provide projected income statements and balance sheets for a three-year period; discuss your break-even point; explain your personal balance sheet and method of compensation; discuss who will maintain your accounting records and how they will be kept; provide "what if" statements that address alternative approaches to any problem that may develop. Operations: Explain how the business will be managed on a day-to-day basis; discuss hiring and personnel procedures; discuss insurance, lease or rent agreements, and issues pertinent to your business; account for the equipment necessary to produce your products or services; account for production and delivery of products and services.Concluding Statement: Summarize your business goals and objectives, and express your commitment to the success of your business. |
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Advice Going for a loan? These financial documents must accompany your plan. Easy to use templates are available. For free forms and free help, call SBDC at 802·658·9228. 1. Sources & Applications Statement - a document that states all the sources of funds to be used in the venture and how those funds will be used. 2. Profit and Loss Statements for 3 years, historical and projected. 3. Cash Flow Statements for 3 years, historical and projected. 4. Balance Sheets for 3 years, historical and projected. 5. Tax Returns for previous two years.
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Page last updated July 09, 2008
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