5 core questions addressed by your business plan

At the heart of all business plans are at least five common sections that address the core questions that face all new start-ups. We recommend proceeding through these sections in order, making sure that you can complete each step before proceeding to the next. For example, if the market feasibility proves to be negative, then there is no need to proceed to developing financials.

I. Description of the business and industry

• What is it you propose to do?
• Is it completely new or is it an organized industry?
  

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2. Market Feasibility Analysis

• How many people want this? (Request a demographic or consumer spending report)
• How many people are providing it? (Request a competitor report)
  

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3. Financials (Contact for FSBDC for assistance)

• What are my fixed and variable expenses?
• How much do I have to make to break even?
• Can I make a profit?

4. Marketing Pan

• What is the profile of my customers?
• Where are they?
• Where do they congregate?
  
• Is the market growing or shrinking?
• Why would customers pick my business over everyone else?

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5. Documentation of Experience

• What is the most cost effective way of reaching them?
• What is their motivation and how do I work that into my message?
  
• What experience does the management team have in the industry? In business?
• In the specialized areas of sales, accounting, strategy, operations, organization building.