Effective Business Plans
Executive Summary, Mission and Keys to Success
After receiving confirmation from the angel investor for the desire to receive a business plan on the company’s behalf, executive staff would immediately compose or revise any previous document in order to update information regarding the various aspects of the technology company. The first section should include an executive summary in which the executive management team discloses biographies and professional objectives for implementation during the scope of the business plan. In order to provide the angel investor and other readers with the most constructive information regarding the technology company’s approach to developing products and services, subsections for company mission and keys to success provide supporting data that may prove influential and persuasive to any funder.
Company Summary, History and Start-up Plan
One of the most integral sections of the business plan, the company summary, explains the current levels of ownership within the company. The information provides potential funders with the first look as to the number of current participants in the technology company’s financial makeup. Providing the company history or a start-up plan for new businesses can also explain the technology’s function in society, particularly its supply and demand, and how the company intends to meet these levels of expectations in the marketplace.
Products and Services, Competition and Technology
The most developed section of the business plan should be devoted to products and services. The company would provide a description of each technical product and service and explain the importance of distributing each in the marketplace. Funders would also be interested in observing an competitive comparison subsection in order to discover which companies currently offer similar products, and in which ways would the company differentiate from the competition. Developing a technology section provides space for providing specifications for products and conducts a comparative analysis with similar products in the market. Also, a future products and services subsection provides potential funders with the type of products and services the market can expect to see from the company over the span of five years or more.
Marketing, Strategy and Management
For a more thorough explaination of how the technology company can be successful in the current market, management staff should include a market analysis summary section. The space would detail market segmentation, common strategies, trends and growth, as well as distribution patterns for affirming the company’s position and prospective success in reaching development and marketing goals. Subsequently, the strategy and implementation summary would reinforce the company’s potential by devising concrete strategies for success in sales, marketing, pricing, promotion, and distribution.
During the summation of the document, the management summary discloses the organizational structure and personnel involved in ensuring each component of the plan becomes fulfilled on an ongoing basis. One of the most crucial aspects, the financial plan, conveys the key financial indicators, analysis, profit and loss, and projected cash flow needed in order to achieve each company goal outlined in the business plan.