2. Develop Your Business Plan
What to Include in your Business Plan
Your business plan communicates what your business does, your vision for the future, and the steps you will take to reach those objectives. Generally, the business plan should include:
- An executive summary
- A marketing plan
- An operations plan
- The proposed organizational structure
- Financial Projections
Your developed business plan should also include the following:
- The legal structure of your business
You have probably heard the terms Sole proprietorship, General Partnership, Limited partnership, and Type C or S Corporation. The determination to form a company under a particular structure has much to do with the business activity, location, and organization. Information about each structure can be found at the California Secretary of State website: www.sos.ca.gov.
Since the legal structure of the business will dictate many of the entity’s operational functions, and tax liability, entrepreneurs are encouraged to seek legal advice when considering these choices. More information can be found at: www.Business.USA.gov.
- The business name
Help with Business Plan Templates
- North Coast SCORE offers an online business plan template that includes advice and tips for success. The plan, along with many helpful templates may be found at: www.nortcoast.score.org
- Northeastern University Guide to Writing a Business Plan