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Creating a business plan is one of the most important steps you will take because the plan serves as your road map for the early years of your business.
The content of the presentation is usually limited to the executive summary and a few key graphs showing financial trends and key decision making benchmarks.
If a new product is being proposed and time permits, a demonstration of the product may be included.
Venture capitalists are primarily concerned about initial investment, feasibility, and exit valuation.
A business plan for a project requiring equity financing will need to explain why current resources, upcoming growth opportunities, and sustainable competitive advantage will lead to a high exit valuation.
These plans typically have detailed information about the organization or the team making effort to reach its goals.
With for-profit entities, external stakeholders include investors and customers, for government agencies, external stakeholders are the tax-payers, higher-level government agencies, and international lending bodies such as the International Monetary Fund, the World Bank, various economic agencies of the United Nations, and development banks.Business plans that identify and target internal goals, but provide only general guidance on how they will be met are called strategic plans.Operational plans describe the goals of an internal organization, working group or department. The content and format of the business plan is determined by the goals and audience.You can also use your completed business plan to discuss next steps with a mentor or counselor from an SBA resource partner such as SCORE, a Small Business Development Center (SBDC) or a Women's Business Center (WBC).Complete each section of SBA's Business Plan Tool at your own pace.A well thought out plan also helps you to step-back and think objectively about the key elements of your business venture and informs your decision-making on a regular basis.SBA's Business Plan Tool provides you with a step-by-step guide to help you get started.During the step-by-step process, this tool will update the status of your business plan.Once you save your information and move to a new section in the business plan, a checkmark will appear in the numbered section menu at the top of the screen denoting when each section is complete.An internally-focused business plan is often developed in conjunction with a balanced scorecard or a list of critical success factors.This allows success of the plan to be measured using non-financial measures.