What you need to know, and most importantly, what you need to be able to articulate both in person and in a written business plan.
Executive Summary
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Why will the business succeed?
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What do you want to start (or change)?
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How much money is required?
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What is the projected return on the investment?
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Why is the venture a good risk?
Business Description
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What type of business is this?
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What products or services will you sell?
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What type of opportunity is it(new, part-time, expansion, seasonal, year-round)?
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Why does it promise to be successful?
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What is the growth potential?
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How is it unique?
Marketing
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Who are your potential customers?
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How large is the market?
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Who are your competitors? How are their businesses positioned?
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What market share do you anticipate?
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How will you price your product or service?
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What advertising and promotional strategies will you use?
Research, Design, and Development
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Have you carefully described your design or development?
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What technical assistance have you received?
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What research needs do you anticipate?
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Are the costs involved in research and design reasonable?
Manufacturing
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Where will the business be located? Why?
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What steps are required to produce your product or service?
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What are your needs for production (e.g., facilities and equipment)?
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Who will your suppliers be?
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What transportation is available?
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What is the supply of available labor?
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What will it cost to produce your product or service?
Organization
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Who will manage the business?
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What qualifications do you and your staff have?
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How many employees will you need? What will they do?
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How will you structure your organization?
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What are your plans for employee salaries, wages and benefits?
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What consultants or specialists will you need? How will you use them?
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What legal form of ownership will you choose? Why?
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What licenses and permits will you need?
Financial
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What is your total estimated business income for the first year? Monthly for the first year? Quarterly for the second and third years?
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What will it cost you to open the business?
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What will your personal monthly financial needs be?
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What sales volume will you need in order to make a profit during the first three years?
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What will be the breakeven point?
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What will be your projected assets, liabilities and net worth on the day before you expect to open?
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What are your total financial needs?
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What are your potential funding sources? How will you spend funds?
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How will the loans be secured?
Milestone Schedule
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What timing have you projected for this project?
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How have you set your objectives?
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Have you set up your deadlines for each stage of your venture?
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Is there a relationship between events in this venture?
Appendix
Have you included all important documents, drawings, agreements and references?
Source: As seen in Executive Female, July/August 1993