"Good sales people aren't motivated by money......they are driven by it. Create a sales compensation plan that will drive your sales force to high levels of performance."

"A failure to plan is ultimately a plan to fail......some form of strategic planning is evident in virtually all successful businesses."

A Business Plan Outline

Many business plans are written without taking into account all of the necessary elements that should be included. Following a thorough business plan outline is helpful in ensuring that all of the elements are included and that the plan covers all of the important variables associated with your business. While a business plan outline is helpful, it is equally important to understand what each element of the plan entails and covers. Using a planning guide or business plan workbook is often useful in helping in the completion of a sound business plan.

The following business plan outline provides each of the critical elements that should be addressed in a good business plan:

Cover Page

Table of Contents

• Discussion of products/services
• Overview of the business concept
• Brief discussion of the market
• Overview of the industry and competition
• Marketing approach and strategy
• Management structure and top personnel
• Risk overview
• Financial projections
• Financing required

• General discussion of primary goals
• List goals
• General discussion of primary strategies
• List strategies

• Description of the company
• Brief discussion of its history

• Detailed description of the industry
• General discussion of competition
• Detailed discussion about competition

• Overview of product(s)/service(s)
• Patents, trademarks, copyrights
• Detailed description of product(s)/service(s)
• Discuss competitive advantage/differentiation

• Description of the market
• Size of the market
• Market location(s)
• Current and projected market trends

• Review of market/marketing strategies
• Discussion of branding/image development
• Discussion of forecasted market share
• Pricing strategies and price schedules
• Selling approach
• Distribution strategies and approach
• Service and warranty plans
• Promotional Plan Summary

• Manufacturing/service delivery method
• Labor requirement breakdown
• Discussion of product/service cost(s)
• Administrative/Technology Overview

• Overview of management structure
• Organization chart
• Summary of individual backgrounds
• Resumes of key management personnel

• Presentation of potential risks to the business
• Discussion of risk mitigation strategies

• Funding required
• Current capitalization
• How funds will be used
• Income statements – three years
• Balance sheets – three years
• Cash flow statements – three years
• List of assumptions used in projections

As mentioned, while following a business plan outline as you develop your plan is useful, having a more complete resource as a guide may make some sense. The Business Plan Workbook is a complete guide for developing a business plan that addresses the necessary information important to any reader of the plan. Click here to learn more about this widely used resource.