Writing an Effective Business Plan

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Fourth Edition

Writing an Effective Business Plan



This publication contains general information only and Deloitte & Touche LLP is not, by means of this publication, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services. This publication is not a substitute for such professional advice or services, nor should it be used as a basis for any decision or action that may affect your business. Before making any decision or taking any action that may affect your business, you should consult a qualified professional advisor. Deloitte & Touche LLP shall not be responsible for any loss sustained by any person who relies on this publication. Copyright © 2003 Deloitte & Touche LLP. All rights reserved.

CONTENTS
INTRODUCTION 1 THE NEED
FOR

PLANNING
FOR THE FOR THE

1 EXTERNAL USES 2 INTERNAL USES

PLAN PLAN

T H E F U N D A M E N TA L Q U E S T I O N S

2

THE PROCESS

OF

WRITING

A

BUSINESS PLAN

3 G AT H E R I N G T H E R I G H T D ATA 4 OUTLINING THE PLAN DETERMINING THE KIND OF

PLAN

5 D E S I G N AT I N G R E S P O N S I B I L I T I E S 6 T H E F U N D A M E N TA L Q U E S T I O N S

3

T H E E X E C U T I V E S U M M A RY
7 K E YS TO 9 USES
AN

E F F E C T I V E E X E C U T I V E S U M M A RY E X E C U T I V E S U M M A RY

8 H O W T H E E X E C U T I V E S U M M A RY H E L P S TO S H A P E T H E P L A N FOR THE

4

T H E C O M PA N Y, S T R AT E G Y, A N D M A N AG E M E N T T E A M 10 Y O U R B U S I N E S S M I S S I O N T H E C O M PA N Y : PA S T, P R E S E N T 11 T H E M A N AG E M E N T T E A M T H E F U N D A M E N TA L Q U E S T I O N S AND

FUTURE

5

M A N AG E M E N T

AND

O R G A N I Z AT I O N

12 D E S C R I B I N G T H E M A N AG E M E N T T E A M 13 O T H E R H U M A N R E S O U R C E I S S U E S O U TS I D E A D V I S O R S T H E F U N D A M E N TA L Q U E S T I O N S

6

THE MARKET

AND

C O M P E T I TO R S

15 I D E N T I F Y I N G Y O U R M A R K E T 16 U N D E R S TA N D I N G T H E M A R K E T 17 T H E N E E D FOR

MARKET RESEARCH

18 T H E F U N D A M E N TA L Q U E S T I O N S

7

THE PRODUCT

OR

SERVICE

20 P R E S E N T I N G T H E P R O D U C T P R O D U C T D E V E LO P M E N T I S S U E S 21 M A N U FAC T U R I N G RISKS AND AND

O P E R AT I O N S ONGOING SERVICE

22 Q UA L I T Y C O N T R O L I D E N T I F Y I N G C O S TS

AND

R E G U L AT I O N S

23 T H E F U N D A M E N TA L Q U E S T I O N S

CONTENTS (continued)
8 MARKETING
AND

SALES

24 T H E M A R K E T I N G P L A N 25 S A L E S S T R AT E G I E S 27 T H E F U N D A M E N TA L Q U E S T I O N S

9

T H E F I N A N C I A L I N F O R M AT I O N
28 T H E F I N A N C I A L S TAT E M E N TS 32 H O W F I N A N C I A L E X P E R TS E VA LUAT E F O R E C A S TS 33 T H E F U N D I N G R E Q U E S T 34 PAY B AC K AND

E X I T S T R AT E G Y

T H E F U N D A M E N TA L Q U E S T I O N S

10

P U T T I N G I T A L L TO G E T H E R APPENDICES

A B

39 P L A N N I N G I N F O R M AT I O N C H E C K L I S T 41 A N A LY Z I N G F I N A N C I A L P E R F O R M A N C E

G LO S S A RY
47 G LO S S A RY
OF

BUSINESS TERMS

INTRODUCTION

Traditionally considered an exercise in corporate discipline, today’s business plans are at the heart of obtaining financing, forming alliances and recruiting executives. No longer read exclusively by insiders and traditional lenders, business plans must do more than demonstrate a sufficient level of competence. Today’s plans have to withstand stiff competition in attracting funding, key employees, and other desired relationships. Despite the enormous impact that a well developed business plan will have on a company, many executives prepare plans that poorly articulate their company and their vision. Some executives are tempted to simplify the process by choosing from the impressive array of software products that provide...
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