The last bit we will cover in this four part mini-series is how to format our business plan, what it will be used for, and where to place those extra papers that are supportive of your business plan but are not key. If you are just getting here now you may want to start from the beginning. Here are parts one, two, and three. Now before we get started on organizing the document, we need to acknowledge the Executive Summary I told you to ignore before. An Executive Summary is: Brief but comprehensive synopsis of a business plan or an investment proposal, which highlights its key points and is generally adapted for the external audience. Source. This is written last because it basically becomes what investors will base their impression on. Therefore you want to plan everything in detail first so we can add in all our important key features. There are several main points that it should include and it is probably best to have them in this order as you put your thoughts together.
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Welcome to part three of the miniseries, Business Plan 101 Part 3. In this part we will be covering how to write the management summary portion and the financial plan. Management Summary Financial Plan Management Summary So this section is basically a single page explaining, who runs your business. Go into detail on the owner, and what makes them qualified to be doing what they are doing. This is important for investors to really get an understanding of who they would be dealing with. You may also want to include anyone else who has started from the bottom. Organizational structure is an optional sub category for this page. You may choose to explain what different positions there are within the company. This shows you have a plan in place for when you expand and begin to hire employees. Lastly a table explaining and forecasting what salary will be per year and if there will be an added on employees within certain years. I usually make this plan forecast the first four years.
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