I thought it would be useful to have a Business Plan Checklist as business people always want a business plan. It demonstrates to others that you’ve carefully thought through all the options and possibilities and completely understand exactly what needs to be done. It also is a useful ‘yardstick’ that you can refer to as you’re on your business journey. Others like some entrepreneurs think that business plans are outdated. Sometimes they are a necessary evil when asking for funding from venture capitalists and business angels. You’ll find that the Business Plan Checklist below is a comprehensive list from which you can decide what to include or exclude.
Section 1 – Executive Summary
- The purpose of the document and its intended audience
- Summary of current headline figures:
- sales
- profit
- staff
- Ownership of the business
- Timescale of plan
- Products and Services and their unique selling points (USPs)
- State any funding requirements and source of those funds
Section 2 – Company Information
- When did the business started?
- Key milestones in the company’s history
- Vision
- Mission
- Objectives
- Ownership of the business
Section 3 – Products and Services
- Description of each product or service:
- Unique selling points
- How does it compare to the competition?
- Timescale and cost estimates before ready to go to market
Section 4 – Markets, customers and competitors
- Describe the target markets in detail:
- Current and future trends
- Growth
- Numbers
- Show market demographics
- Your Business Customers:
- How many?
- Names
- Competitive Analysis
Section 5 – Marketing and Selling
- The make up of the sales team
- Pricing policy
- Promotional activities
- Distribution channels
- For each product/service, describe how it is:
- positioned
- priced
- placed
- promoted
- sold
- Sales forecast
- State how are customers cared for
- How are new prospect opportunities generated?
Section 6 – People and Organization
- Organization chart
- Key management team
- role
- name
- experience
- education
- qualifications
- Recruitment requirements to meet business plan aim
- Training and development plan
Section 7 – Operations
- List targets and milestones
- List key change projects
- Any scaling and output limitations?
- Location and Facilities
Section 8 – Financial Forecasts
- Key Ratios
- Forecasted profit and loss statement
- Forecasted balance sheet
- Forecasted cashflow statement
Section 9 – Appendices
- List of patents and trademarks
- Detailed bios on the management team
- Audited accounts
- Market research evidence