Business Plan For An Existing Business

Business Plan For An Existing Business-52
A business plan for existing company should include a financial plan and high-level strategy with clearly assigned priorities, specific responsibilities, deadlines and milestones.

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Speak in terms of the size of your potential market base, the percentage of the market share you have, and how you reach these customers.

Describe how the market is growing; investors would rather work with a small company in a growing market than a large one in a stagnant market. Include an analysis of your current and upcoming competitors, how you compare to them, how you work with or around one another, and the regulations that govern your business.

She holds a Master of Business Adminstration from Thunderbird School of Global Management.

If you plan to buy an existing business, carefully analyse both the advantages and disadvantages, including the history, which is likely to impact the future of the business.

In currently existing businesses, this section is often larger and more detailed than the other sections. Your executive summary is your 30-second elevator pitch.

It should emphasize the aspects of your product or service that make your business unique and compelling to customers, and should also define the scope of what you do and do not do. You should be able to include three to five years worth of historical financial statements, a current analysis of profit and loss and cash flow, and at least one year's pro forma statements based on historical records. This section tells the investor what you are using the investment funds for, how your business will grow to capture new market opportunities, and how your business is changing to meet new market opportunities. It should be one page or less and be a persuasive and exciting piece of sales writing designed to entice investors into looking further.

Evangeline Marzec is a management consultant to small high-tech companies, and has been in the video games industry since 2004.

As a published writer since 1998, she has contributed articles and short stories to web and print media, including e How and Timewinder.

This article was co-authored by our trained team of editors and researchers who validated it for accuracy and comprehensiveness.

Together, they cited information from 16 references.

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