- 1). Define what product or service you offer and the challenges it solves. Show the value of solving the challenges. Identify and document customer references and industry references from consultants and industry-research organizations. Demonstrate what sets the product or services apart from the competition. Define the market for the business over a five-year period, including customers expected in one- to two-year and three- to five-year periods. Explain how the market may change over this time frame and how the business will respond to these changes.
- 2). Define the business strategies and steps to execute them. Expound on potential partnerships, sales channels and sales processes. Identify current and future competitors and how they will react to the business in the marketplace. Specify whether the business requires patent or other protection and the likelihood for duplication of the product or service. Explain the rounds of funding required, initial public offering plans and acquisition plans.
- 3). Make a multiyear profit-and-loss statement. Include projections on revenue, product development, sales and marketing, general administration and gross income. Specify the initial funding you seek and how the initial funding would be spent.
- 4). Identify the management of the company and staffing required. Summarize major milestones to achieving the business plan including fiscal-quarter funding requirements, staffing goals, sales goals, and major events like movement to new markets, acquisitions, and subsequent funding rounds.
- 5). Write the business plan using all of the information gathered to this point. Develop a funding pitch. The pitch is a presentation for funding sources that covers the categories of the business plan in a bullet-point summary format. Using feedback from funding presentations, update the business plan and funding pitch.
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