conclusion in business plan

Business Plan Conclusion: Summary & Recap

You’ve written your business plan, but now you want to wrap it up to make a lasting impact on your reader. In this article, we will define the conclusion to a business plan as well as provide some tips to help you attract and seal the deal with potential investors and lenders.

What is a Business Plan Conclusion?

This business plan conclusion is a concise summary and recap of all of the components of a business plan , but especially the executive summary. It summarizes your business plan in 2-3 paragraphs, with an emphasis on the most important points.

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Is the Business Conclusion Necessary?

It’s good practice for business plans, but not always necessary to be successful in obtaining funding.

If you have a stellar executive summary, it may be unnecessary.

If the business conclusion is written well enough, it can serve as an executive summary of sorts – a short recap that provides more detail than the business plan as a whole, but only includes the most important points. It could also serve as an executive summary that is more concise than an actual executive summary.

How To Write a Conclusion for Your Business Plan

The conclusion of your business plan is the last thing people read before deciding to invest in you and your business, so it needs to make a lasting impression.

Determine Location

Depending on your intended audience, there are two common places for the conclusion. If your plan is meant for internal purposes, you may have the conclusion at the end of the entire document. However, if you are seeking funds from investors, you want to place the conclusion at the end of the Executive Summary, increasing the chances that it is actually read.

Review & Concisely Recap

conclusion reviews key points from the executive summary

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Startups might include the following information:.

Funding requirements
Service or benefit to the investor
Target market and audience
How products or services solve the target market’s problem
Marketing strategy
Competitive advantage
Management team experience
Financial projections
Launch plan

Established businesses might include information in their conclusions such as:

Mission statement
Company’s history
Products and/or services
Historical growth data
Financial summary
Company’s goals

Summarize the 3-5 points in a couple of paragraphs. You don’t need to summarize everything that happened in your business plan, just the most important points of the business plan.

Support Your Claims with Stats and/or Visuals

Establish a Call-To-Action (CTA)

Proofread & Spell-Check

The conclusion needs to give your readers a sense of closure by wrapping up all loose ends while making your last pitch effort to obtain the money your business may need.

Business Plan Conclusion Example

Use this conclusion example to help you with how to end a business plan, but keep in mind to make it relevant to your target audience, industry, and funding requirements:

Expanding into the Seattle metro area will allow Skyridge to provide its cutting-edge technology to more people who need it. Purchasing the fabrication plant in Seattle allows us to produce all of our products in-house and in one location, delivering them promptly and efficiently to the northwestern region.

We have the power to change the way people use technology, and we want [Investor’s Name] to be a part of it. By investing in Skyridge’s growth, [Investor’s Name] will benefit in the following ways:

Inclusion with a startup that has seen XXX% growth over the past X years and our company’s management team with XX years of experience in the technology industry
Contribution to Seattle’s economic growth and its citizens’ access to technology that enhances their lives
Participation in company planning meetings and receive an XX% share in all profits earned

We can add to the number of lives Skyridge’s technologies impact, generate more job opportunities in the region, and alter the technology sector if we work together. If you agree with our vision for a better future for everyone, join us.

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How to Write a Business Plan Conclusion?

Business Plan Template

Vinay Kevadia
June 20, 2024

Completed writing your business plan?

Let’s wrap it up with a conclusion that ends your business plan on an exciting and positive note. Not to forget—a conclusion that convinces the readers about your business’s potential to succeed.

In this blog post, you will learn exactly how to write a conclusion of a business plan and get an example to guide you.

Let’s get started.

What is a business plan conclusion?

A business plan conclusion is the final section concluding very concisely the points discussed in your business plan.

It reinforces the business’s strengths and feasibility and reassures the readers of potential business success. It clarifies the reader’s benefit of associating with your business and convinces them of a profitable investment opportunity.

A conclusion is about 3-4 paragraphs long and is designed to drive action and leave a lasting impression on reader’s minds.

Business plan conclusion vs. executive summary

Many people confuse a conclusion and an executive summary to be the same. However, they are not. Let’s see how.

An executive summary is a broad overview of your entire business plan. The conclusion, on the other hand, is a concise summary reinforcing the key takeaways of your plan.
While an executive summary introduces the readers to your business idea, a conclusion convinces them to take the desired action.
An executive summary is a preview of what the plan will be about. The conclusion, on the contrary, is a review of what the plan has discussed.
An executive summary is concise. However, conclusions are more concise covering only the aspects that can drive decisions and actions.

Clear enough, right? Let’s move ahead.

Why is a business plan conclusion important?

Although a conclusion is not mandatory, it is an important aspect of a business plan. It communicates your passion and commitment to a business idea and convinces the readers of your ability to succeed.

A conclusion synthesizes the key insights of your business plan focusing on aspects such as market analysis , business strategy, competitive advantage, and milestones. It reinforces your plan’s vision and establishes your strategic position amongst readers.

A well-crafted conclusion will drive desired actions from the readers. It can seal the deal and fulfill your objective of writing a business plan.

How to write a conclusion for your business plan?

From what information to include to where to place the conclusion—this section will guide you to write an impactful conclusion for your business plan.

1. Choose the right placement

There are two places for you to place your conclusion. It can either be after your executive summary or at the end of the document.

The location changes depending on who you plan to present your business plan with.

If you prepare a business plan for investors , placing your conclusion after the executive summary will increase the likelihood of it getting read.

However, the conclusion should be placed at the end for business plans that are prepared for internal use and business partners. Conclusion in this case reviews and emphasizes the company’s strengths.

2. Place the right information

The information in your conclusion changes depending on your audience and the intent of the business plan.

For instance, if you’re a new business trying to secure funds, your conclusion can synthesize the key details about the following:

Funding demands
Benefit to the investors
Target market and target customers
Solution for the problem
Marketing strategy
Team members and their expertise
Financial projections
Competitive advantage
Launch plan

However, if you’re a small business trying to grow or use this plan for internal use, consider covering key insights from the following aspects:

Mission statement
History and the milestones
Data supporting growth
Industry trends
Financial summary
Long-term goals and objectives

These are the details you can cover while writing your conclusion. However, including every bit of these in your conclusion is unnecessary.

Think from your reader’s perspective. Determine the information that would excite them about your business and form your conclusion accordingly.

3. Include stats and visuals

Now that you’ve decided on the placement and information to be included in your conclusion, it’s time to make your conclusion zesty.

How? Get the facts and stats that would support the claims you make in your conclusion.

For instance, if you’re promising growth, show market research that supports your claim. Again, if you’re promising a certain return on investment, include the statistics that can make investors believe you.

Sway away from vague statements and assumptions. And, if you feel that the statistic would be best absorbed through visual charts or graphics, don’t be afraid to add one.

4. Add a CTA

If you want the readers to take action, guide them. Add a crisp clear call to action(CTA) and explain how the readers would benefit from taking that action.

For instance,

Join us as a silent partner by investing in Beanco.
Invest $2 M and secure a 20% stake in equity.
Support our growth by sharing references.

Don’t beat around the bush. If you are making a funding request, be unapologetic. And even if not, your CTA should suggest how a reader can support your growth.

5. Review and proofread

Once your conclusion is ready, re-read and proofread it for any grammatical or spelling errors. Fix the flow and remove fluff to make your conclusion crisp and persuasive.

Get your friends and business partners to read the conclusion and check if the message you are trying to send is crisp and clear. If not, make the necessary adjustments.

Business plan conclusion example

Use this business plan conclusion as a reference and tailor yours keeping in mind the needs, objectives, and audience for your business plan.

Launching EcoRide Electric Scooters will revolutionize urban transportation by providing an eco-friendly, efficient, and affordable solution for city commuters. Our innovative design and advanced technology will set us apart in the rapidly growing market for sustainable transport options.

We are poised to make a significant impact on urban mobility, and we want [Investor’s Name] to be a foundational part of our journey. By investing in EcoRide Electric Scooters, [Investor’s Name] will benefit in the following ways:

Joining a groundbreaking startup with a vision to reduce urban pollution and traffic congestion, led by a passionate team with over 20 years of combined experience in the automotive and tech industries.
Supporting the development and deployment of cutting-edge electric scooters, contributing to a cleaner, greener urban environment.
Gaining equity in a high-potential startup with a scalable business model and the potential for significant returns as we expand to new markets.

Together, we can transform urban transportation, reduce carbon footprints, and create a sustainable future for city dwellers. If you share our vision for a cleaner, more efficient urban commute, partner with us.

Let’s conclude your business plan

Now that you have understood the process and referred to an example, let’s conclude your business plan.

Identify the information you must highlight, encapsulate it into a powerful conclusion, and pair it with an even more powerful CTA.

However, remember that the conclusion just seals the deal. It’s the business plan that will hook your readers till the end. With Upmetrics’s AI business plan generator , you can create truly engaging business plans in just about 10 minutes.

So, improvise your business plan, sum it up with a convincing conclusion, and send over your business plan to your potential investors to secure funding.

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with step-by-step Guidance & AI Assistance.

Frequently Asked Questions

How long should a business plan conclusion be.

A conclusion of your business plan can be anywhere between 2-3 paragraphs long. In this ideal length, you must outline the key takeaways of your plan, clarify the next step to the readers, and explain to them the benefit of supporting your business.

What is the most important part of a business plan conclusion?

A CTA is the most important part of the conclusion, especially if you are trying to raise funds. However, if you are writing a plan for internal purposes, focus more on synthesizing the key essentials of a plan.

Can I include new information in the conclusion?

A conclusion does not introduce any new information. It simply reinforces the business’s position and convinces the readers to take the desired action for one last time. For instance, offer funding for your business.

Is it necessary to include a call to action in the conclusion?

It is very important to add a crisp clear CTA while concluding your plan. You can’t expect the readers to invest in your business or help you grow if you don’t clarify the steps to take action.

About the Author

Vinay Kevadiya

Vinay Kevadiya is the founder and CEO of Upmetrics, the #1 business planning software. His ultimate goal with Upmetrics is to revolutionize how entrepreneurs create, manage, and execute their business plans. He enjoys sharing his insights on business planning and other relevant topics through his articles and blog posts. Read more

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Writing an Effective Business Plan Conclusion: Tips & Examples

Do you need help concluding the business plan that you have worked so hard to create? A well-crafted business plan conclusion is essential for setting the tone for the entire document, and summarizing the key points that justify why the business will be successful. In this article, we will explore how to write an effective business plan conclusion that will ensure that your plan is read and taken seriously.

How to End a Business Plan?

The conclusion of your business plan should briefly summarize the main points of your argument. It should state why you believe your business will succeed and explain how you intend to achieve your goals. A business plan conclusion should cover the opportunity, highlight the strengths of your plan, summarize your vision, and remind the reader why your business is in a unique position to succeed.

A template example of a solid business plan conclusion follows:

Opportunity: Explain the opportunity that your business is capitalizing on and why it is attractive.
Key Strengths: Highlight the key strengths of your plan, such as your competitive advantage and any unique selling points.
Vision: Summarize your vision for the business and its future.
Unique Position: Remind the reader why your business is in a unique position to succeed.

It is important to keep your business plan conclusion succinct and to the point. It should be no longer than a few paragraphs, and should be a clear and concise summary of the entire document.

At Atlantabusinesses.com, we understand how important it is to have a clear and effective business plan conclusion. We are experts in the field of business brokering, and we can help you through the entire process of buying or selling a business. Visit our website for more information, and for answers to all your questions about selling a business and about business brokers.

What is the final stage of the business plan?

Conclude your business plan with a presentation for obtaining funding, and provide any relevant data, graphs, and charts to back it up. Make it explicit how much money you are asking for from investors—whether it is equity, a collaboration, or a loan.

What is the appropriate way to conclude a business plan letter?

What should be included in the concluding section of a business plan.

It should also include a description of the problems you are trying to solve, a review of your marketing strategy, and an assessment of the financials. The best way to write an executive summary is to write it after you have a thorough understanding of your entire plan and can succinctly summarize it. The executive summary should include your company’s mission statement, a description of the products and services you offer or plan to offer, an overview of the problems you are aiming to solve, an assessment of your marketing strategy and an overview of the financials.

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Closing Statement Example for Business Plan: Tips & Guide

Table of Contents

Your business plan’s closing statement is the last thing an investor will read, so it must be compelling enough to encourage them to invest. The final paragraph of your business plan should do two things. It should summarize the entire document and give the reader a better grasp of your company’s USPs (unique selling propositions). By using persuasive writing techniques and language, you can ensure your ending is as impactful and memorable as possible. To help get you started, this blog post will provide tips and an example of a successful closing statement for a business plan.

What Is a Business Plan?

A business plan is a comprehensive document that outlines a business’s strategy and operating procedures . It’s typically used to attract investors, secure funding, and provide direction for the business in the future. Typical components of a business plan include

An executive summary
Market analysis overview
Financial projections
Details on how the company plans to achieve its stated objectives.

Tips on Writing a Conclusion for Your Business Plan

Your company’s closing statement in a business plan can inspire investors or motivate employees. It should offer a view into the future by stating your goals for the company’s growth and development. Consider the following suggestions for concluding your business plan .

Proper Amount of Information

The final section of your business plan should include a concise summary of your essential ideas. Explain why your company will succeed and how you intend to get there. This business plan section is your last attempt to convince potential backers to put money into your venture. The final section of a company plan written for internal use can be more optimistic. You could mention your future goals for growth or expansion in this situation. This will help the audience understand the direction you envision the company heading. To win over investors, you might include the following in your final paragraph:

The state of your company’s finances as of right now
Money to help your business expand and thrive
Customers and clients who fit your target demographic
Demand from Consumers
Particulars that set you apart from the competition
Your strategy to boost revenue.
Include the following in your conclusion to provide management with some insight into the future of the company:
Details about your company’s past and its offerings
Intentions for the long-term
Future growth or expansion plans

These aren’t the only points that should be mentioned in a conclusion, but they’re among the most crucial.

Incorporate Data and Statistics

To make your case more convincing, you should use evidence like figures and facts. Doing so will strengthen your argument and leave the reader with a favorable impression of your company. Your company’s financial history and growth projections may help convince investors to invest in your company. Market share and customer happiness statistics can help reassure upper management that their company is on the right track.

Keep a Good Attitude

Avoid sounding pessimistic as you wrap things up. Avoid statements like “Despite our difficulties, I am certain that our business will be successful.” Don’t dwell on past failures, but rather on your company’s successes and future prospects. Using phrases like “I am positive about the future of our company” will leave the reader with a favorable impression of your firm.

End With a CTA

The business plan’s final section should end with a call to action. In this section, you might argue why the reader should join your cause or invest in your business. Your stand must be a concise and direct call to action. Readers need to know exactly what you want them to do, and you need to convince them to do it.

Conclude and Reflect

After you’ve finished writing your conclusion, it’s essential to go back and read it over. Ensure that your point is made without ambiguity and that all relevant details are included. Ensure the tone is upbeat and cheerful, and check for spelling and grammatical problems. To attract investors, it’s essential to have a second pair of eyes look over the final draft of the business plan. Obtaining as much input as possible will help you ensure your argument is well-articulated and persuasive. After you’ve come to a satisfying conclusion, it’s time to move on to the next phase of your business plan.

Location: End of Document or Executive Summary?

Determine whether you want your business plan’s conclusion to appear at the end of the document or the executive summary. If you’re writing a business plan to attract investors or obtain funding, consider adding the conclusion to the executive summary. Investors will likely skim the rest of your report before getting to your executive summary. Including it there is crucial to ensure they get your main points. Doing so will give your audience a clearer picture of where you are going with your argument.

Closing Statement Example for Business Plan

We are certain that ABC Corporation will become a key player in the XYZ industry due to our extensive market research and analysis. Our unique combination of innovative products and services, competitive pricing, and dedicated customer service makes us the go-to provider for ABC customers. The funds we secure from this investment round will help us develop and improve our products and services. It will also finance our expansion into new markets. With your support, we can make ABC Company the industry leader in XYZ. Thank you for considering our business plan and taking the time to learn more about our company. We look forward to working with you and exploring the potential of this partnership. Thank you for your time. Sincerely, XYZ Team

The closing statement example for business plan above is an excellent example of how a business model should end. It emphasizes the objective, progress, and, most significantly, the business owner’s commitment to its mission . In summary, the conclusion should restate your company’s value proposition and create a lasting impression on the reader.

Closing Statement Example for Business Plan: Tips & Guide

Abir Ghenaiet

Abir is a data analyst and researcher. Among her interests are artificial intelligence, machine learning, and natural language processing. As a humanitarian and educator, she actively supports women in tech and promotes diversity.

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How To Write the Conclusion of a Business Plan

Your business plan’s conclusion should encapsulate your overall justification for why your venture will succeed in order to draw investors or motivate your staff. Additionally, it ought to give a short future outlook outlining your goals for development and growth. The conclusion should also restate your company’s key selling points and leave readers with a favorable impression.

How to write a business plan conclusion

When writing a business plan’s conclusion, adhere to these guidelines:

1. Decide where you want it to be

Choose whether you want the executive summary or the entire document to contain your business plan’s conclusion. Consider placing the conclusion at the end of the executive summary if you are writing a business plan to attract investors or raise money. The executive summary introduces the key points of the business plan and outlines the company’s funding requirements and conditions. It can be more persuasive to potential investors to place the conclusion at the end of this summary, and it also increases the likelihood that it will be read.

You might select a more conventional location for your conclusion at the end of the document if you are writing a business plan for an established company to track progress or provide information to a third party. In this case, your conclusion should review and highlight the company’s advantages.

2. Include the right information

Depending on whether your business is a startup looking to raise capital or an established organization evaluating goals, the information you include in your business plan conclusion will vary. New companies trying to get funding might include:

Established businesses might include information in their conclusions such as:

Not all conclusions need all these details. The most crucial information for the purpose of your business plan should be included, but the conclusion should be brief. When selecting what to include in your conclusion, keep your audience in mind. Focus on the value your company provides to investors, for instance, and the reasons why this opportunity is special. Focus on company leadership’s experience and ways to lower the lender’s risk when applying for a business loan.

3. Add facts and statistics

Facts, figures, and statistics should be used to support the conclusions in your business plan. Investors want evidence that your business can succeed and that they will see a return on their investment. Include details like your track record of expanding this or other businesses, or the information you used to calculate how much funding you need. This information is more convincing than assumptions or vague statements.

4. Maintain a positive tone

Your business plan’s conclusion should be formal and upbeat in nature. You want to convey your optimism and enthusiasm for the company’s success so that the reader will feel motivated or enthusiastic to support the business. Use language that is assertive and active and conveys your confidence in the business.

5. Include a call to action

At the conclusion of your essay, include a brief call to action that instructs the reader on what to do next. The reader should be motivated to support the business’s objectives in the manner you desire. You might conclude by saying something like, “Invest in the success of Harper Corps by joining us as a minority partner in WinTec Enterprises.” In your call to action, use action words and emphasize how the reader will benefit from taking that action.

6. Review your conclusion

Make sure your business plan’s conclusion is written with proper spelling, grammar, and punctuation by reading it after you’ve finished. You want it to flow naturally and be both concise and clear. Ask a friend or coworker who is not familiar with the objectives of your company to read it as well. Ask them if they have any questions about the book’s conclusion and whether reading it has piqued their interest or excitement. Then make improvements as needed.

What is a business plan conclusion?

The goal of a business plan conclusion is to persuade the reader of the company’s success by summarizing the plan’s advantages. The conclusion should highlight how the organization makes money and why it is a good investment because businesses typically produce business plans in order to obtain funding or investors. Businesses also create business plans to evaluate their performance or set new objectives.

In a business plan, the conclusion can be found at the end of the whole thing or at the end of the executive summary. The executive summary, which appears at the start of the business plan, provides an overview of what the reader can expect to learn and persuades them to continue reading. Some people conflate the executive summary and the conclusion, but there are several significant differences between the two.

Every business, whether new or established, should have a business plan with a succinct and focused conclusion.

Business plan conclusion example

Use this sample business plan conclusion as a model for your own plan’s conclusion, being sure to customize it to your target audience’s needs and requirements:

Expanding Bridgewater & Co. Our already prosperous company will be able to provide cutting-edge health technologies to more people who need them thanks to its expansion into the Denver metropolitan area. Buying this manufacturing facility in Denver gives us the chance to produce all of our goods internally and in a single location and ship them out quickly and effectively to the area. We want Sixty-Seven Investors to be a part of this exciting revolution because we have the unique ability to change lives. Investing in Bridgewater & Co. s expansion benefits Sixty-Seven Investors by:

We can save more lives if we work together, Bridgewater & Co. Products change, add to the community’s employment opportunities, and revolutionize the health technology sector. Invest with us if you share our vision for a more prosperous and healthy future.

Business Plan Writer Explains How to Write a Business Plan: Part 8 The Conclusion

How do you conclude a business plan presentation?

Conclusion. The conclusion of a business plan doesn’t necessarily need to be lengthy; in fact, it can be quite succinct. Your conclusion should restate the opportunity, highlight the plan’s key strengths, summarize your vision, and remind the reader of the reasons why your company is in a position to carry out the plan successfully.

What is summary in business plan?

One of the most crucial components of your plan is the executive summary, which is a synopsis of all the important sections of your business plan.

What should be done after finishing the business plan?

Make sure it connects to your purpose.
Begin to test and measure.
Use the 80/20 rule.
Learn something new (quickly)

What is recommendation in a business plan?

A business recommendation letter, also known as a reference letter, is an endorsement of the products or services that one company has provided to another business or individual.

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How to Conclude a Business Plan

Business plans explain what a company does, who runs the company and how the company plans on hitting revenue goals, based on competitive advantages and marketing strategies. Some businesses write a business plan for internal review, tracking annual goals. Business plans are also used to seek investor loans or to finance their business. When presenting the plan for financing, it's important to conclude the plan with purpose, but to do so succinctly.

Conclusion or Executive Summary?

Business owners might confuse a business plan's conclusion with the plan's executive summary. The executive summary is actually the first section of a business plan, which provides a synopsis and a high-level overview of the major sections of the plan. A business owner might confuse this with the conclusion, because many business experts suggest writing the executive summary last, after the necessary information has been fleshed out.

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The executive summary is usually a series of section teasers that give readers a high-level preview of the plan. It's also possible for the business plan to have a formal conclusion at the end of the sections. The conclusion is usually tailored and targets the informational needs of a specific investor or of a specific strategic partner.

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If the executive summary states what the plan will be, then the conclusion reviews what the plan has stated. A business plan conclusion redefines the company's needs, the competence of management to achieve the goals and the key points to justify why the business will succeed with funding. Investors are looking for reasons why they should risk money in the venture; this is achieved by highlighting the unique ways in which the company solves problems and how an influx of funding will yield success. Usually, there's a specific call to action in the conclusion.

End Notes and References

Creating a business plan requires market and industry research. The larger the company or the more complicated its products or services, then it is even more important that research is needed to verify regulations, industry trends and technology innovations. End notes are the expert resources used in writing the plan and justifying propositions. These are like a bibliography in a high-school research paper.

End notes refer to specific data cited in the plan, listed in order of use by the correlating fact within the business plan. For example, the competitive-analysis section might cite consumer data obtained by public industry reports. If this is the third citation of data, the superscript is the numeral three that corresponds to the third end note.

The Tone of the Conclusion

The business plan's conclusion should rely on facts and maintain a professional tone. Any projections and assumptions are backed by data points, the business' prior success, and management's ability to deliver. This is similar to a scientist using known facts to create a hypothesis for a new study.

For example, if the conclusion states that funding can scale factory operations by 50 percent more and yield 150 percent more in revenues, the conclusion of growth needs to be backed by those specific data points, which conclude that the assumption is correct.

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Kimberlee Leonard lived in the Bay Area while going to school at the University of San Francisco. Before becoming a full-time writer, she worked for major financial institutions such as Wells Fargo and State Farm. She has developed content for brands such as Trupanion, Live Your Aloha, Neil Patel and Home To Go. She currently lives in her home state of Hawaii with her active son and lazy dog.

How to Conclude a Business Plan

by Mariel Loveland

Published on 28 May 2019

It doesn’t matter if you’re launching a brand new business or planning to expand your already successful venture: you will need a business plan. This is a road map that helps you achieve all of your business goals. It basically answers a series of questions about your company ranging from what your product is to who you’re selling it to. This, of course, can be figurative as some businesses provide services, rather than products.

For example, a plumbing company’s product is fixing pipes, not typically the retail sale of the pipes themselves. A medical practice’s product is diagnosing and curing illnesses, not typically the medicine itself (that’s usually left up to the pharmacies).

Partially completed written business plan.

Word processing software.

Inside every business plan is a conclusion – and it varies depending on the industry and the audience. Regardless, this is your final pitch to summarize your entire report. A solid business plan conclusion example is one that highlights strengths and ensures the reader that your business will be a success.

Share the conclusion of your plan with a few people you trust to make sure company outsiders can understand your points.

Explain The “Why” Behind Your Business Plan

In your business plan conclusion pdf (or printed paper if you’re going old school), you need to tell readers why they’re actually reading your business plan in the first place. For example, the conclusion of a business plan for a coffee shop looking for funding might briefly mention that you’re searching for a certain amount of money to remodel your dining space or buy a new espresso machine.

You might also want to use different business plan conclusion examples for different audiences. If you’re looking for $100,000 in funding from investors, disclose financial details in your conclusion. If you’re looking for a new partner or to sell your business, you’ll need to outline this in your conclusion as well. You might actually be looking for investors and partners or looking for investors or a buyer at the same time. Print out business plan conclusion PDFs for each specific instance.

State The Key Milestones

Your business plan probably has stacks of pages with different milestones. When do you expect to turn a profit? How long will it take you to train new staff? In how many months do you expect to break a sales milestone? Even your executive summary, the shorter preface to your plan that explains your key assumptions in everyday speak versus industry jargon, has a few milestones buried deep in its short pages.

State your key milestones in your conclusion, whether you place this in an executive summary or at the end of your report. For example, the conclusion of a business plan for a coffee shop might say that you expect to sell 1,000 lattes by the first month. Write this down along with the percentage of increased revenue you expect month-to-month and the measures you’ll take to get there. Put the milestones in a graph, table or column for easy digestibility.

Create a Call to Action

The best business plans don’t just end with an “okay, now what?” They end with inspiration. To do this, you’ll need to add a call-to-action to your business plan conclusion. The call-to-action can be anything from “invest money today” to “join us as a partner.”

For example, the conclusion of a business plan for a coffee shop might include “try one of our specialty cold brews today.” This is a successful business plan conclusion example because it gives investors the opportunity to try your product to see if they really believe in what you’re offering.

Not all Business Plan Conclusion Examples Are at the End

Before printing out your business plan conclusion PDF, think about where you’re going to actually put your conclusion. This might come at the end of your executive summary, which is at the beginning of your business plan.

You also might wish to write a longer conclusion at the end of your business plan. Either is effective, though the executive summary does come first and is most easily digested. You might have the biggest opportunity to show your business prowess in a place most investors are going to read first.

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How To Write the Conclusion of a Business Plan

Business Plan Writer Explains How to Write a Business Plan: Part 8 The Conclusion

How to write a business plan conclusion

When writing a business plan’s conclusion, adhere to these guidelines:

1. Decide where you want it to be

2. Include the right information

Established businesses might include information in their conclusions such as:

3. Add facts and statistics

4. Maintain a positive tone

5. Include a call to action

6. Review your conclusion

What is a business plan conclusion?

Every business, whether new or established, should have a business plan with a succinct and focused conclusion.

Business plan conclusion example

Use this sample business plan conclusion as a model for your own plan’s conclusion, being sure to customize it to your target audience’s needs and requirements:

How do you conclude a business plan presentation?

What is summary in business plan?

One of the most crucial components of your plan is the executive summary, which is a synopsis of all the important sections of your business plan.

What should be done after finishing the business plan?

Make sure it connects to your purpose.
Begin to test and measure.
Use the 80/20 rule.
Learn something new (quickly)

What is recommendation in a business plan?

A business recommendation letter, also known as a reference letter, is an endorsement of the products or services that one company has provided to another business or individual.

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How to Write a Great Business Report Conclusion: Everything You Need to Know

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When creating a comprehensive business report for your company, most of your time and energy will go into writing the main section of your report.

Once you come to the conclusion, you will probably be exhausted and you may feel the urge to just ‘wrap it up’ as soon as possible.

This can be a costly mistake.

Your conclusion carries the same importance as all the other sections of the report since it leaves the final impression on the reader.

How you conclude your business report has a direct impact on the way in which the readers will respond to the important information you gathered.

The business report may be spectacular, but without a convincing conclusion, all your efforts may deteriorate.

In this article, we are going to teach you how to write a compelling conclusion that will leave a huge impression on all your readers.

What Is Conclusion in Business Report Writing?

How do you write a conclusion for a report, types of business report conclusions, improve business reporting with databox.

No matter which type of business report you have written, you will need a good conclusion to sum up all the critical information.

A business report conclusion is the last section of the document used for summarizing the most important information, providing a final word to the readers.

Through the conclusion, you are able to convey the main message of your business document. You use it to outline the report as a whole, remind the readers of the main pain points, and present the key findings and decisions.

Depending on whether you have written a shorter or longer business report, the conclusion length may vary, but it should always be included. It is a sign of good organization and it can make the readers understand the pain points much easier.

To put it simply, the conclusion is supposed to create the impression among the readers that the purpose of the report has been achieved.

Business report conclusions have a lot of similarities to executive summaries, which is why a lot of people tend to confuse these two.

However, there are some important things that differentiate them. These include:

Executive summaries are mainly focused on displaying what the report will be about, while conclusions are an overview of what was discussed in the report.
Executive summaries provide readers with a broad overview of the business report, while the conclusion summarizes the key pain points and most important data.
Executive summaries should convince the readers to continue reading the report, while the conclusion should persuade them to take certain action.
Conclusions tend to include CTAs (Call to Action), which isn’t the case with executive summaries.

Related : Executive Reporting: Management Reporting Best Practices & Report Examples

Now that you understand what a conclusion is and why it’s so important to include it in your report, let’s show you how you can write the perfect one and impress your readers.

Follow these steps to create a great business report conclusion.

Choose the Position

Include the right information, summarize the contents, facts and statistics, maintain a positive tone, develop a cta.

There are two places where conclusions are most commonly placed – at the end of the executive summary and at the end of the entire report.

For business plan reports, the common practice is to place the conclusion at the end of the executive summary.

This way, you make the first step through the executive summary template and introduce the plan’s main pain points and funding needs. Then, you create a conclusion to summarize these numbers to your potential investors, which directly impacts their decision to go over the executive summary once more, this time reading it more thoroughly.

For other types of business reports, the conclusion will generally be placed at the end of the whole report. Established companies use these business reports to track performances and data from important departments, which is why the conclusion should primarily focus on briefly reviewing the key metrics you included and emphasizing the company’s main strengths.

The information you put into the conclusion also depends on whether you are a new startup looking to attract investments or an established company that wants to track performances and asses objectives.

To raise money, startups should include this type of information:

Financial needs
The benefits of their product and how it can affect the market
Target audience/ideal customer persona
How the product can attract new customers
Marketing and sales strategy
Competitive landscape and analysis
The expertise of the main members of the company
Financial forecasts (next 3-5 years)
Launching plan

Existing companies should include information such as:

Mission statement
Performance history
Data that showcases business growth
Financial summary
Overall goals and objectives

While these types of details are important, they aren’t universal for all reports. Your primary goal should be to include the most important data from your specific document and keep the conclusion concise and understandable.

PRO TIP: How to Track the Right Metrics for Your SaaS Company

It’s not easy to know which KPIs to track for sales, marketing, and customer success in a SaaS company. There are many possibilities, and so much to do! Why not start with the basic metrics that determine the health of your company?

Sales (Gross) Volume: How much revenue did your sales team bring in this month, this quarter, or this year?
MRR Growth: How fast are you growing revenues from recurring subscriptions?
Customers: How many customers do you have right now?
Customer Churn Rate: What’s your customer churn rate, and how much revenue have you lost to churn?

If you want to track these in Stripe, you can do it easily by building a plug-and-play dashboard that takes your Stripe customer data and automatically visualizes the right metrics to allow you to monitor your SaaS revenue performance at a glance.

stripe-dashboard-template-saas-kpis-databox

You can easily set it up in just a few clicks – no coding required.

To set up this Stripe dashboard , follow these 3 simple steps:

Step 1: Get the template

Step 2: Connect your Stripe account with Databox.

Step 3: Watch your dashboard populate in seconds.

The best way to convey your main message is by explaining it in detail throughout the business report and then summarizing it to recap the main points.

When creating the business report, take notes of the most important information that you should later highlight in the conclusion.

Make sure to avoid any extra details since they are already provided within the report. Only include the key points that explain why the business report itself is useful to the company.

Also, don’t use any additional information that you didn’t include in the report. This can only confuse your readers and send mixed messages.

You should prepare some facts, statistics, and data to support the statements in your conclusion. No matter if the reader is a potential investor or the key stakeholders in your company, you will want to include some evidence to back up your claims.

This makes the conclusion much more convincing and the audience will see that your forecasts aren’t based only on vague assumptions.

The tone in your conclusion should match the rest of the document and the best way to leave an impression on the audience is by using a professional and positive tone throughout the whole report.

After going through the conclusion, the readers should feel interested and enthusiastic to support the growth of your organization.

Make sure you exude confidence by using strong and active language.

Including a call to action at the end of your conclusion helps you persuade the readers to support the goals you set up.

This can be anything from “Join us at X enterprises” or “Invest in X and become a part of the success”.

A good CTA includes strong action words through which you emphasize the benefits of investors joining your firm or key stakeholders supporting your objectives.

After you are finished writing the conclusion, go over it once again to make sure there aren’t any spelling, grammar, or punctuation mistakes you overlooked. The conclusion should be clear, precise, and easy to go understand.

You can even ask a colleague or a friend to read it since it’s always helpful to have an extra set of eyes. Ask their opinion on how the conclusion makes them feel and whether it was easy to go through.

As we said, depending on which type of business report you have written and what is included in it, there are a few different types of conclusions you should differentiate.

Let’s walk you through them.

Conclusion with a Prediction

Conclusion with a major problem, conclusion with a quote, conclusion with a summary.

If your report focuses on a decision or strategy that already took place, you can write a conclusion that predicts the outcomes of that specific strategy.

You can include financial forecasts, sales expectations, and overall growth predictions. Make sure to also back up your predictions with sufficient evidence.

Writing this type of conclusion can be a bit tricky. You don’t want to come off strong and repeat the same issue over and over again. However, you do want the readers to take the issue seriously and realize why it is important that everyone focuses on solving it as soon as possible.

Be direct, but also lenient. Describe why that issue is important and provide a few ways on how you can solve it. Keep it brief and memorable.

Ending your conclusion with a powerful quotation can leave a great impression on the readers. However, you should be very careful when choosing the right quote.

You can’t just throw in some saying from Shakespeare and wrap it up. It is best to quote someone influential in the industry in such a way that it reinforces your message.

When writing your short but meaningful summary, don’t go into detail about your main points again. Keep it as brief as possible and only remind the readers of the most important information.

Also, you should remember that a conclusion doesn’t have to include only one of these things. Mixing up a summary and a prediction can be a powerful combination, so always try to figure out a few different ways to convey your message and then choose the right one.

Business reporting is one of the indispensable activities within a company, but it is also one of the most time-consuming.

The traditional way of creating business reports has always been a daunting task for executives around the world – hours spent copying and pasting, checking different tools for data, tracking the performance each week, and constantly updating the reports manually.

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With our customizable dashboards , you will save both time and energy by tracking all of your important data in one place and updating it in real-time. You can connect your favorite devices and monitor business performances in one comprehensive report.

Additionally, you will also be able to prepare beautiful and understandable reports by using some of our advanced visualization tools. With just a few clicks, you can visualize all of the key metrics and turn them into professional-looking graphs and charts.

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How to Write a Business Plan in 9 Steps (+ Template and Examples)

Every successful business has one thing in common, a good and well-executed business plan. A business plan is more than a document, it is a complete guide that outlines the goals your business wants to achieve, including its financial goals . It helps you analyze results, make strategic decisions, show your business operations and growth.

If you want to start a business or already have one and need to pitch it to investors for funding, writing a good business plan improves your chances of attracting financiers. As a startup, if you want to secure loans from financial institutions, part of the requirements involve submitting your business plan.

Writing a business plan does not have to be a complicated or time-consuming process. In this article, you will learn the step-by-step process for writing a successful business plan.

You will also learn what you need a business plan for, tips and strategies for writing a convincing business plan, business plan examples and templates that will save you tons of time, and the alternatives to the traditional business plan.

Let’s get started.

What Do You Need A Business Plan For?

Businesses create business plans for different purposes such as to secure funds, monitor business growth, measure your marketing strategies, and measure your business success.

1. Secure Funds

One of the primary reasons for writing a business plan is to secure funds, either from financial institutions/agencies or investors.

For you to effectively acquire funds, your business plan must contain the key elements of your business plan . For example, your business plan should include your growth plans, goals you want to achieve, and milestones you have recorded.

A business plan can also attract new business partners that are willing to contribute financially and intellectually. If you are writing a business plan to a bank, your project must show your traction , that is, the proof that you can pay back any loan borrowed.

Also, if you are writing to an investor, your plan must contain evidence that you can effectively utilize the funds you want them to invest in your business. Here, you are using your business plan to persuade a group or an individual that your business is a source of a good investment.

2. Monitor Business Growth

A business plan can help you track cash flows in your business. It steers your business to greater heights. A business plan capable of tracking business growth should contain:

The business goals
Methods to achieve the goals
Time-frame for attaining those goals

A good business plan should guide you through every step in achieving your goals. It can also track the allocation of assets to every aspect of the business. You can tell when you are spending more than you should on a project.

You can compare a business plan to a written GPS. It helps you manage your business and hints at the right time to expand your business.

3. Measure Business Success

A business plan can help you measure your business success rate. Some small-scale businesses are thriving better than more prominent companies because of their track record of success.

Right from the onset of your business operation, set goals and work towards them. Write a plan to guide you through your procedures. Use your plan to measure how much you have achieved and how much is left to attain.

You can also weigh your success by monitoring the position of your brand relative to competitors. On the other hand, a business plan can also show you why you have not achieved a goal. It can tell if you have elapsed the time frame you set to attain a goal.

4. Document Your Marketing Strategies

You can use a business plan to document your marketing plans. Every business should have an effective marketing plan.

Competition mandates every business owner to go the extraordinary mile to remain relevant in the market. Your business plan should contain your marketing strategies that work. You can measure the success rate of your marketing plans.

In your business plan, your marketing strategy must answer the questions:

How do you want to reach your target audience?
How do you plan to retain your customers?
What is/are your pricing plans?
What is your budget for marketing?

How to Write a Business Plan Step-by-Step

1. create your executive summary.

The executive summary is a snapshot of your business or a high-level overview of your business purposes and plans . Although the executive summary is the first section in your business plan, most people write it last. The length of the executive summary is not more than two pages.

Generally, there are nine sections in a business plan, the executive summary should condense essential ideas from the other eight sections.

A good executive summary should do the following:

A Snapshot of Growth Potential. Briefly inform the reader about your company and why it will be successful)
Contain your Mission Statement which explains what the main objective or focus of your business is.
Product Description and Differentiation. Brief description of your products or services and why it is different from other solutions in the market.
The Team. Basic information about your company’s leadership team and employees
Business Concept. A solid description of what your business does.
Target Market. The customers you plan to sell to.
Marketing Strategy. Your plans on reaching and selling to your customers
Current Financial State. Brief information about what revenue your business currently generates.
Projected Financial State. Brief information about what you foresee your business revenue to be in the future.

The executive summary is the make-or-break section of your business plan. If your summary cannot in less than two pages cannot clearly describe how your business will solve a particular problem of your target audience and make a profit, your business plan is set on a faulty foundation.

Avoid using the executive summary to hype your business, instead, focus on helping the reader understand the what and how of your plan.

View the executive summary as an opportunity to introduce your vision for your company. You know your executive summary is powerful when it can answer these key questions:

Who is your target audience?
What sector or industry are you in?
What are your products and services?
What is the future of your industry?
Is your company scaleable?
Who are the owners and leaders of your company? What are their backgrounds and experience levels?
What is the motivation for starting your company?
What are the next steps?

Writing the executive summary last although it is the most important section of your business plan is an excellent idea. The reason why is because it is a high-level overview of your business plan. It is the section that determines whether potential investors and lenders will read further or not.

The executive summary can be a stand-alone document that covers everything in your business plan. It is not uncommon for investors to request only the executive summary when evaluating your business. If the information in the executive summary impresses them, they will ask for the complete business plan.

If you are writing your business plan for your planning purposes, you do not need to write the executive summary.

2. Add Your Company Overview

The company overview or description is the next section in your business plan after the executive summary. It describes what your business does.

Adding your company overview can be tricky especially when your business is still in the planning stages. Existing businesses can easily summarize their current operations but may encounter difficulties trying to explain what they plan to become.

Your company overview should contain the following:

What products and services you will provide
Geographical markets and locations your company have a presence
What you need to run your business
Who your target audience or customers are
Who will service your customers
Your company’s purpose, mission, and vision
Information about your company’s founders
Who the founders are
Notable achievements of your company so far

When creating a company overview, you have to focus on three basics: identifying your industry, identifying your customer, and explaining the problem you solve.

If you are stuck when creating your company overview, try to answer some of these questions that pertain to you.

Who are you targeting? (The answer is not everyone)
What pain point does your product or service solve for your customers that they will be willing to spend money on resolving?
How does your product or service overcome that pain point?
Where is the location of your business?
What products, equipment, and services do you need to run your business?
How is your company’s product or service different from your competition in the eyes of your customers?
How many employees do you need and what skills do you require them to have?

After answering some or all of these questions, you will get more than enough information you need to write your company overview or description section. When writing this section, describe what your company does for your customers.

The company description or overview section contains three elements: mission statement, history, and objectives.

Mission Statement

The mission statement refers to the reason why your business or company is existing. It goes beyond what you do or sell, it is about the ‘why’. A good mission statement should be emotional and inspirational.

Your mission statement should follow the KISS rule (Keep It Simple, Stupid). For example, Shopify’s mission statement is “Make commerce better for everyone.”

When describing your company’s history, make it simple and avoid the temptation of tying it to a defensive narrative. Write it in the manner you would a profile. Your company’s history should include the following information:

Founding Date
Major Milestones
Location(s)
Flagship Products or Services
Number of Employees
Executive Leadership Roles

When you fill in this information, you use it to write one or two paragraphs about your company’s history.

Business Objectives

Your business objective must be SMART (specific, measurable, achievable, realistic, and time-bound.) Failure to clearly identify your business objectives does not inspire confidence and makes it hard for your team members to work towards a common purpose.

3. Perform Market and Competitive Analyses to Proof a Big Enough Business Opportunity

The third step in writing a business plan is the market and competitive analysis section. Every business, no matter the size, needs to perform comprehensive market and competitive analyses before it enters into a market.

Performing market and competitive analyses are critical for the success of your business. It helps you avoid entering the right market with the wrong product, or vice versa. Anyone reading your business plans, especially financiers and financial institutions will want to see proof that there is a big enough business opportunity you are targeting.

This section is where you describe the market and industry you want to operate in and show the big opportunities in the market that your business can leverage to make a profit. If you noticed any unique trends when doing your research, show them in this section.

Market analysis alone is not enough, you have to add competitive analysis to strengthen this section. There are already businesses in the industry or market, how do you plan to take a share of the market from them?

You have to clearly illustrate the competitive landscape in your business plan. Are there areas your competitors are doing well? Are there areas where they are not doing so well? Show it.

Make it clear in this section why you are moving into the industry and what weaknesses are present there that you plan to explain. How are your competitors going to react to your market entry? How do you plan to get customers? Do you plan on taking your competitors' competitors, tap into other sources for customers, or both?

Illustrate the competitive landscape as well. What are your competitors doing well and not so well?

Answering these questions and thoughts will aid your market and competitive analysis of the opportunities in your space. Depending on how sophisticated your industry is, or the expectations of your financiers, you may need to carry out a more comprehensive market and competitive analysis to prove that big business opportunity.

Instead of looking at the market and competitive analyses as one entity, separating them will make the research even more comprehensive.

Market Analysis

Market analysis, boarding speaking, refers to research a business carried out on its industry, market, and competitors. It helps businesses gain a good understanding of their target market and the outlook of their industry. Before starting a company, it is vital to carry out market research to find out if the market is viable.

The market analysis section is a key part of the business plan. It is the section where you identify who your best clients or customers are. You cannot omit this section, without it your business plan is incomplete.

A good market analysis will tell your readers how you fit into the existing market and what makes you stand out. This section requires in-depth research, it will probably be the most time-consuming part of the business plan to write.

Market Research

To create a compelling market analysis that will win over investors and financial institutions, you have to carry out thorough market research . Your market research should be targeted at your primary target market for your products or services. Here is what you want to find out about your target market.

Your target market’s needs or pain points
The existing solutions for their pain points
Geographic Location
Demographics

The purpose of carrying out a marketing analysis is to get all the information you need to show that you have a solid and thorough understanding of your target audience.

Only after you have fully understood the people you plan to sell your products or services to, can you evaluate correctly if your target market will be interested in your products or services.

You can easily convince interested parties to invest in your business if you can show them you thoroughly understand the market and show them that there is a market for your products or services.

How to Quantify Your Target Market

One of the goals of your marketing research is to understand who your ideal customers are and their purchasing power. To quantify your target market, you have to determine the following:

Your Potential Customers: They are the people you plan to target. For example, if you sell accounting software for small businesses , then anyone who runs an enterprise or large business is unlikely to be your customers. Also, individuals who do not have a business will most likely not be interested in your product.
Total Households: If you are selling household products such as heating and air conditioning systems, determining the number of total households is more important than finding out the total population in the area you want to sell to. The logic is simple, people buy the product but it is the household that uses it.
Median Income: You need to know the median income of your target market. If you target a market that cannot afford to buy your products and services, your business will not last long.
Income by Demographics: If your potential customers belong to a certain age group or gender, determining income levels by demographics is necessary. For example, if you sell men's clothes, your target audience is men.

What Does a Good Market Analysis Entail?

Your business does not exist on its own, it can only flourish within an industry and alongside competitors. Market analysis takes into consideration your industry, target market, and competitors. Understanding these three entities will drastically improve your company’s chances of success.

You can view your market analysis as an examination of the market you want to break into and an education on the emerging trends and themes in that market. Good market analyses include the following:

Industry Description. You find out about the history of your industry, the current and future market size, and who the largest players/companies are in your industry.
Overview of Target Market. You research your target market and its characteristics. Who are you targeting? Note, it cannot be everyone, it has to be a specific group. You also have to find out all information possible about your customers that can help you understand how and why they make buying decisions.
Size of Target Market: You need to know the size of your target market, how frequently they buy, and the expected quantity they buy so you do not risk overproducing and having lots of bad inventory. Researching the size of your target market will help you determine if it is big enough for sustained business or not.
Growth Potential: Before picking a target market, you want to be sure there are lots of potential for future growth. You want to avoid going for an industry that is declining slowly or rapidly with almost zero growth potential.
Market Share Potential: Does your business stand a good chance of taking a good share of the market?
Market Pricing and Promotional Strategies: Your market analysis should give you an idea of the price point you can expect to charge for your products and services. Researching your target market will also give you ideas of pricing strategies you can implement to break into the market or to enjoy maximum profits.
Potential Barriers to Entry: One of the biggest benefits of conducting market analysis is that it shows you every potential barrier to entry your business will likely encounter. It is a good idea to discuss potential barriers to entry such as changing technology. It informs readers of your business plan that you understand the market.
Research on Competitors: You need to know the strengths and weaknesses of your competitors and how you can exploit them for the benefit of your business. Find patterns and trends among your competitors that make them successful, discover what works and what doesn’t, and see what you can do better.

The market analysis section is not just for talking about your target market, industry, and competitors. You also have to explain how your company can fill the hole you have identified in the market.

Here are some questions you can answer that can help you position your product or service in a positive light to your readers.

Is your product or service of superior quality?
What additional features do you offer that your competitors do not offer?
Are you targeting a ‘new’ market?

Basically, your market analysis should include an analysis of what already exists in the market and an explanation of how your company fits into the market.

Competitive Analysis

In the competitive analysis section, y ou have to understand who your direct and indirect competitions are, and how successful they are in the marketplace. It is the section where you assess the strengths and weaknesses of your competitors, the advantage(s) they possess in the market and show the unique features or qualities that make you different from your competitors.

Four Steps to Create a Competitive Marketing Analysis

Many businesses do market analysis and competitive analysis together. However, to fully understand what the competitive analysis entails, it is essential to separate it from the market analysis.

Competitive analysis for your business can also include analysis on how to overcome barriers to entry in your target market.

The primary goal of conducting a competitive analysis is to distinguish your business from your competitors. A strong competitive analysis is essential if you want to convince potential funding sources to invest in your business. You have to show potential investors and lenders that your business has what it takes to compete in the marketplace successfully.

Competitive analysis will s how you what the strengths of your competition are and what they are doing to maintain that advantage.

When doing your competitive research, you first have to identify your competitor and then get all the information you can about them. The idea of spending time to identify your competitor and learn everything about them may seem daunting but it is well worth it.

Find answers to the following questions after you have identified who your competitors are.

What are your successful competitors doing?
Why is what they are doing working?
Can your business do it better?
What are the weaknesses of your successful competitors?
What are they not doing well?
Can your business turn its weaknesses into strengths?
How good is your competitors’ customer service?
Where do your competitors invest in advertising?
What sales and pricing strategies are they using?
What marketing strategies are they using?
What kind of press coverage do they get?
What are their customers saying about your competitors (both the positive and negative)?

If your competitors have a website, it is a good idea to visit their websites for more competitors’ research. Check their “About Us” page for more information.

If you are presenting your business plan to investors, you need to clearly distinguish yourself from your competitors. Investors can easily tell when you have not properly researched your competitors.

Take time to think about what unique qualities or features set you apart from your competitors. If you do not have any direct competition offering your product to the market, it does not mean you leave out the competitor analysis section blank. Instead research on other companies that are providing a similar product, or whose product is solving the problem your product solves.

The next step is to create a table listing the top competitors you want to include in your business plan. Ensure you list your business as the last and on the right. What you just created is known as the competitor analysis table.

Direct vs Indirect Competition

You cannot know if your product or service will be a fit for your target market if you have not understood your business and the competitive landscape.

There is no market you want to target where you will not encounter competition, even if your product is innovative. Including competitive analysis in your business plan is essential.

If you are entering an established market, you need to explain how you plan to differentiate your products from the available options in the market. Also, include a list of few companies that you view as your direct competitors The competition you face in an established market is your direct competition.

In situations where you are entering a market with no direct competition, it does not mean there is no competition there. Consider your indirect competition that offers substitutes for the products or services you offer.

For example, if you sell an innovative SaaS product, let us say a project management software , a company offering time management software is your indirect competition.

There is an easy way to find out who your indirect competitors are in the absence of no direct competitors. You simply have to research how your potential customers are solving the problems that your product or service seeks to solve. That is your direct competition.

Factors that Differentiate Your Business from the Competition

There are three main factors that any business can use to differentiate itself from its competition. They are cost leadership, product differentiation, and market segmentation.

1. Cost Leadership

A strategy you can impose to maximize your profits and gain an edge over your competitors. It involves offering lower prices than what the majority of your competitors are offering.

A common practice among businesses looking to enter into a market where there are dominant players is to use free trials or pricing to attract as many customers as possible to their offer.

2. Product Differentiation

Your product or service should have a unique selling proposition (USP) that your competitors do not have or do not stress in their marketing.

Part of the marketing strategy should involve making your products unique and different from your competitors. It does not have to be different from your competitors, it can be the addition to a feature or benefit that your competitors do not currently have.

3. Market Segmentation

As a new business seeking to break into an industry, you will gain more success from focusing on a specific niche or target market, and not the whole industry.

If your competitors are focused on a general need or target market, you can differentiate yourself from them by having a small and hyper-targeted audience. For example, if your competitors are selling men’s clothes in their online stores , you can sell hoodies for men.

4. Define Your Business and Management Structure

The next step in your business plan is your business and management structure. It is the section where you describe the legal structure of your business and the team running it.

Your business is only as good as the management team that runs it, while the management team can only strive when there is a proper business and management structure in place.

If your company is a sole proprietor or a limited liability company (LLC), a general or limited partnership, or a C or an S corporation, state it clearly in this section.

Use an organizational chart to show the management structure in your business. Clearly show who is in charge of what area in your company. It is where you show how each key manager or team leader’s unique experience can contribute immensely to the success of your company. You can also opt to add the resumes and CVs of the key players in your company.

The business and management structure section should show who the owner is, and other owners of the businesses (if the business has other owners). For businesses or companies with multiple owners, include the percent ownership of the various owners and clearly show the extent of each others’ involvement in the company.

Investors want to know who is behind the company and the team running it to determine if it has the right management to achieve its set goals.

Management Team

The management team section is where you show that you have the right team in place to successfully execute the business operations and ideas. Take time to create the management structure for your business. Think about all the important roles and responsibilities that you need managers for to grow your business.

Include brief bios of each key team member and ensure you highlight only the relevant information that is needed. If your team members have background industry experience or have held top positions for other companies and achieved success while filling that role, highlight it in this section.

Create Management Team For Business Plan

A common mistake that many startups make is assigning C-level titles such as (CMO and CEO) to everyone on their team. It is unrealistic for a small business to have those titles. While it may look good on paper for the ego of your team members, it can prevent investors from investing in your business.

Instead of building an unrealistic management structure that does not fit your business reality, it is best to allow business titles to grow as the business grows. Starting everyone at the top leaves no room for future change or growth, which is bad for productivity.

Your management team does not have to be complete before you start writing your business plan. You can have a complete business plan even when there are managerial positions that are empty and need filling.

If you have management gaps in your team, simply show the gaps and indicate you are searching for the right candidates for the role(s). Investors do not expect you to have a full management team when you are just starting your business.

Key Questions to Answer When Structuring Your Management Team

Who are the key leaders?
What experiences, skills, and educational backgrounds do you expect your key leaders to have?
Do your key leaders have industry experience?
What positions will they fill and what duties will they perform in those positions?
What level of authority do the key leaders have and what are their responsibilities?
What is the salary for the various management positions that will attract the ideal candidates?

Additional Tips for Writing the Management Structure Section

1. Avoid Adding ‘Ghost’ Names to Your Management Team

There is always that temptation to include a ‘ghost’ name to your management team to attract and influence investors to invest in your business. Although the presence of these celebrity management team members may attract the attention of investors, it can cause your business to lose any credibility if you get found out.

Seasoned investors will investigate further the members of your management team before committing fully to your business If they find out that the celebrity name used does not play any actual role in your business, they will not invest and may write you off as dishonest.

2. Focus on Credentials But Pay Extra Attention to the Roles

Investors want to know the experience that your key team members have to determine if they can successfully reach the company’s growth and financial goals.

While it is an excellent boost for your key management team to have the right credentials, you also want to pay extra attention to the roles they will play in your company.

Organizational Chart

Adding an organizational chart in this section of your business plan is not necessary, you can do it in your business plan’s appendix.

If you are exploring funding options, it is not uncommon to get asked for your organizational chart. The function of an organizational chart goes beyond raising money, you can also use it as a useful planning tool for your business.

An organizational chart can help you identify how best to structure your management team for maximum productivity and point you towards key roles you need to fill in the future.

You can use the organizational chart to show your company’s internal management structure such as the roles and responsibilities of your management team, and relationships that exist between them.

5. Describe Your Product and Service Offering

In your business plan, you have to describe what you sell or the service you plan to offer. It is the next step after defining your business and management structure. The products and services section is where you sell the benefits of your business.

Here you have to explain how your product or service will benefit your customers and describe your product lifecycle. It is also the section where you write down your plans for intellectual property like patent filings and copyrighting.

The research and development that you are undertaking for your product or service need to be explained in detail in this section. However, do not get too technical, sell the general idea and its benefits.

If you have any diagrams or intricate designs of your product or service, do not include them in the products and services section. Instead, leave them for the addendum page. Also, if you are leaving out diagrams or designs for the addendum, ensure you add this phrase “For more detail, visit the addendum Page #.”

Your product and service section in your business plan should include the following:

A detailed explanation that clearly shows how your product or service works.
The pricing model for your product or service.
Your business’ sales and distribution strategy.
The ideal customers that want your product or service.
The benefits of your products and services.
Reason(s) why your product or service is a better alternative to what your competitors are currently offering in the market.
Plans for filling the orders you receive
If you have current or pending patents, copyrights, and trademarks for your product or service, you can also discuss them in this section.

What to Focus On When Describing the Benefits, Lifecycle, and Production Process of Your Products or Services

In the products and services section, you have to distill the benefits, lifecycle, and production process of your products and services.

When describing the benefits of your products or services, here are some key factors to focus on.

Unique features
Translating the unique features into benefits
The emotional, psychological, and practical payoffs to attract customers
Intellectual property rights or any patents

When describing the product life cycle of your products or services, here are some key factors to focus on.

Upsells, cross-sells, and down-sells
Time between purchases
Plans for research and development.

When describing the production process for your products or services, you need to think about the following:

The creation of new or existing products and services.
The sources for the raw materials or components you need for production.
Assembling the products
Maintaining quality control
Supply-chain logistics (receiving the raw materials and delivering the finished products)
The day-to-day management of the production processes, bookkeeping, and inventory.

Tips for Writing the Products or Services Section of Your Business Plan

1. Avoid Technical Descriptions and Industry Buzzwords

The products and services section of your business plan should clearly describe the products and services that your company provides. However, it is not a section to include technical jargons that anyone outside your industry will not understand.

A good practice is to remove highly detailed or technical descriptions in favor of simple terms. Industry buzzwords are not necessary, if there are simpler terms you can use, then use them. If you plan to use your business plan to source funds, making the product or service section so technical will do you no favors.

2. Describe How Your Products or Services Differ from Your Competitors

When potential investors look at your business plan, they want to know how the products and services you are offering differ from that of your competition. Differentiating your products or services from your competition in a way that makes your solution more attractive is critical.

If you are going the innovative path and there is no market currently for your product or service, you need to describe in this section why the market needs your product or service.

For example, overnight delivery was a niche business that only a few companies were participating in. Federal Express (FedEx) had to show in its business plan that there was a large opportunity for that service and they justified why the market needed that service.

3. Long or Short Products or Services Section

Should your products or services section be short? Does the long products or services section attract more investors?

There are no straightforward answers to these questions. Whether your products or services section should be long or relatively short depends on the nature of your business.

If your business is product-focused, then automatically you need to use more space to describe the details of your products. However, if the product your business sells is a commodity item that relies on competitive pricing or other pricing strategies, you do not have to use up so much space to provide significant details about the product.

Likewise, if you are selling a commodity that is available in numerous outlets, then you do not have to spend time on writing a long products or services section.

The key to the success of your business is most likely the effectiveness of your marketing strategies compared to your competitors. Use more space to address that section.

If you are creating a new product or service that the market does not know about, your products or services section can be lengthy. The reason why is because you need to explain everything about the product or service such as the nature of the product, its use case, and values.

A short products or services section for an innovative product or service will not give the readers enough information to properly evaluate your business.

4. Describe Your Relationships with Vendors or Suppliers

Your business will rely on vendors or suppliers to supply raw materials or the components needed to make your products. In your products and services section, describe your relationships with your vendors and suppliers fully.

Avoid the mistake of relying on only one supplier or vendor. If that supplier or vendor fails to supply or goes out of business, you can easily face supply problems and struggle to meet your demands. Plan to set up multiple vendor or supplier relationships for better business stability.

5. Your Primary Goal Is to Convince Your Readers

The primary goal of your business plan is to convince your readers that your business is viable and to create a guide for your business to follow. It applies to the products and services section.

When drafting this section, think like the reader. See your reader as someone who has no idea about your products and services. You are using the products and services section to provide the needed information to help your reader understand your products and services. As a result, you have to be clear and to the point.

While you want to educate your readers about your products or services, you also do not want to bore them with lots of technical details. Show your products and services and not your fancy choice of words.

Your products and services section should provide the answer to the “what” question for your business. You and your management team may run the business, but it is your products and services that are the lifeblood of the business.

Key Questions to Answer When Writing your Products and Services Section

Answering these questions can help you write your products and services section quickly and in a way that will appeal to your readers.

Are your products existing on the market or are they still in the development stage?
What is your timeline for adding new products and services to the market?
What are the positives that make your products and services different from your competitors?
Do your products and services have any competitive advantage that your competitors’ products and services do not currently have?
Do your products or services have any competitive disadvantages that you need to overcome to compete with your competitors? If your answer is yes, state how you plan to overcome them,
How much does it cost to produce your products or services? How much do you plan to sell it for?
What is the price for your products and services compared to your competitors? Is pricing an issue?
What are your operating costs and will it be low enough for you to compete with your competitors and still take home a reasonable profit margin?
What is your plan for acquiring your products? Are you involved in the production of your products or services?
Are you the manufacturer and produce all the components you need to create your products? Do you assemble your products by using components supplied by other manufacturers? Do you purchase your products directly from suppliers or wholesalers?
Do you have a steady supply of products that you need to start your business? (If your business is yet to kick-off)
How do you plan to distribute your products or services to the market?

You can also hint at the marketing or promotion plans you have for your products or services such as how you plan to build awareness or retain customers. The next section is where you can go fully into details about your business’s marketing and sales plan.

6. Show and Explain Your Marketing and Sales Plan

Providing great products and services is wonderful, but it means nothing if you do not have a marketing and sales plan to inform your customers about them. Your marketing and sales plan is critical to the success of your business.

The sales and marketing section is where you show and offer a detailed explanation of your marketing and sales plan and how you plan to execute it. It covers your pricing plan, proposed advertising and promotion activities, activities and partnerships you need to make your business a success, and the benefits of your products and services.

There are several ways you can approach your marketing and sales strategy. Ideally, your marketing and sales strategy has to fit the unique needs of your business.

In this section, you describe how the plans your business has for attracting and retaining customers, and the exact process for making a sale happen. It is essential to thoroughly describe your complete marketing and sales plans because you are still going to reference this section when you are making financial projections for your business.

Outline Your Business’ Unique Selling Proposition (USP)

The sales and marketing section is where you outline your business’s unique selling proposition (USP). When you are developing your unique selling proposition, think about the strongest reasons why people should buy from you over your competition. That reason(s) is most likely a good fit to serve as your unique selling proposition (USP).

Target Market and Target Audience

Plans on how to get your products or services to your target market and how to get your target audience to buy them go into this section. You also highlight the strengths of your business here, particularly what sets them apart from your competition.

Before you start writing your marketing and sales plan, you need to have properly defined your target audience and fleshed out your buyer persona. If you do not first understand the individual you are marketing to, your marketing and sales plan will lack any substance and easily fall.

Creating a Smart Marketing and Sales Plan

Marketing your products and services is an investment that requires you to spend money. Like any other investment, you have to generate a good return on investment (ROI) to justify using that marketing and sales plan. Good marketing and sales plans bring in high sales and profits to your company.

Avoid spending money on unproductive marketing channels. Do your research and find out the best marketing and sales plan that works best for your company.

Your marketing and sales plan can be broken into different parts: your positioning statement, pricing, promotion, packaging, advertising, public relations, content marketing, social media, and strategic alliances.

Your Positioning Statement

Your positioning statement is the first part of your marketing and sales plan. It refers to the way you present your company to your customers.

Are you the premium solution, the low-price solution, or are you the intermediary between the two extremes in the market? What do you offer that your competitors do not that can give you leverage in the market?

Before you start writing your positioning statement, you need to spend some time evaluating the current market conditions. Here are some questions that can help you to evaluate the market

What are the unique features or benefits that you offer that your competitors lack?
What are your customers’ primary needs and wants?
Why should a customer choose you over your competition? How do you plan to differentiate yourself from the competition?
How does your company’s solution compare with other solutions in the market?

After answering these questions, then you can start writing your positioning statement. Your positioning statement does not have to be in-depth or too long.

All you need to explain with your positioning statement are two focus areas. The first is the position of your company within the competitive landscape. The other focus area is the core value proposition that sets your company apart from other alternatives that your ideal customer might consider.

Here is a simple template you can use to develop a positioning statement.

For [description of target market] who [need of target market], [product or service] [how it meets the need]. Unlike [top competition], it [most essential distinguishing feature].

For example, let’s create the positioning statement for fictional accounting software and QuickBooks alternative , TBooks.

“For small business owners who need accounting services, TBooks is an accounting software that helps small businesses handle their small business bookkeeping basics quickly and easily. Unlike Wave, TBooks gives small businesses access to live sessions with top accountants.”

You can edit this positioning statement sample and fill it with your business details.

After writing your positioning statement, the next step is the pricing of your offerings. The overall positioning strategy you set in your positioning statement will often determine how you price your products or services.

Pricing is a powerful tool that sends a strong message to your customers. Failure to get your pricing strategy right can make or mar your business. If you are targeting a low-income audience, setting a premium price can result in low sales.

You can use pricing to communicate your positioning to your customers. For example, if you are offering a product at a premium price, you are sending a message to your customers that the product belongs to the premium category.

Basic Rules to Follow When Pricing Your Offering

Setting a price for your offering involves more than just putting a price tag on it. Deciding on the right pricing for your offering requires following some basic rules. They include covering your costs, primary and secondary profit center pricing, and matching the market rate.

Covering Your Costs: The price you set for your products or service should be more than it costs you to produce and deliver them. Every business has the same goal, to make a profit. Depending on the strategy you want to use, there are exceptions to this rule. However, the vast majority of businesses follow this rule.
Primary and Secondary Profit Center Pricing: When a company sets its price above the cost of production, it is making that product its primary profit center. A company can also decide not to make its initial price its primary profit center by selling below or at even with its production cost. It rather depends on the support product or even maintenance that is associated with the initial purchase to make its profit. The initial price thus became its secondary profit center.
Matching the Market Rate: A good rule to follow when pricing your products or services is to match your pricing with consumer demand and expectations. If you price your products or services beyond the price your customer perceives as the ideal price range, you may end up with no customers. Pricing your products too low below what your customer perceives as the ideal price range may lead to them undervaluing your offering.

Pricing Strategy

Your pricing strategy influences the price of your offering. There are several pricing strategies available for you to choose from when examining the right pricing strategy for your business. They include cost-plus pricing, market-based pricing, value pricing, and more.

Cost-plus Pricing: This strategy is one of the simplest and oldest pricing strategies. Here you consider the cost of producing a unit of your product and then add a profit to it to arrive at your market price. It is an effective pricing strategy for manufacturers because it helps them cover their initial costs. Another name for the cost-plus pricing strategy is the markup pricing strategy.
Market-based Pricing: This pricing strategy analyses the market including competitors’ pricing and then sets a price based on what the market is expecting. With this pricing strategy, you can either set your price at the low-end or high-end of the market.
Value Pricing: This pricing strategy involves setting a price based on the value you are providing to your customer. When adopting a value-based pricing strategy, you have to set a price that your customers are willing to pay. Service-based businesses such as small business insurance providers , luxury goods sellers, and the fashion industry use this pricing strategy.

After carefully sorting out your positioning statement and pricing, the next item to look at is your promotional strategy. Your promotional strategy explains how you plan on communicating with your customers and prospects.

As a business, you must measure all your costs, including the cost of your promotions. You also want to measure how much sales your promotions bring for your business to determine its usefulness. Promotional strategies or programs that do not lead to profit need to be removed.

There are different types of promotional strategies you can adopt for your business, they include advertising, public relations, and content marketing.

Advertising

Your business plan should include your advertising plan which can be found in the marketing and sales plan section. You need to include an overview of your advertising plans such as the areas you plan to spend money on to advertise your business and offers.

Ensure that you make it clear in this section if your business will be advertising online or using the more traditional offline media, or the combination of both online and offline media. You can also include the advertising medium you want to use to raise awareness about your business and offers.

Some common online advertising mediums you can use include social media ads, landing pages, sales pages, SEO, Pay-Per-Click, emails, Google Ads, and others. Some common traditional and offline advertising mediums include word of mouth, radios, direct mail, televisions, flyers, billboards, posters, and others.

A key component of your advertising strategy is how you plan to measure the effectiveness and success of your advertising campaign. There is no point in sticking with an advertising plan or medium that does not produce results for your business in the long run.

Public Relations

A great way to reach your customers is to get the media to cover your business or product. Publicity, especially good ones, should be a part of your marketing and sales plan. In this section, show your plans for getting prominent reviews of your product from reputable publications and sources.

Your business needs that exposure to grow. If public relations is a crucial part of your promotional strategy, provide details about your public relations plan here.

Content Marketing

Content marketing is a popular promotional strategy used by businesses to inform and attract their customers. It is about teaching and educating your prospects on various topics of interest in your niche, it does not just involve informing them about the benefits and features of the products and services you have,

Businesses publish content usually for free where they provide useful information, tips, and advice so that their target market can be made aware of the importance of their products and services. Content marketing strategies seek to nurture prospects into buyers over time by simply providing value.

Your company can create a blog where it will be publishing content for its target market. You will need to use the best website builder such as Wix and Squarespace and the best web hosting services such as Bluehost, Hostinger, and other Bluehost alternatives to create a functional blog or website.

If content marketing is a crucial part of your promotional strategy (as it should be), detail your plans under promotions.

Including high-quality images of the packaging of your product in your business plan is a lovely idea. You can add the images of the packaging of that product in the marketing and sales plan section. If you are not selling a product, then you do not need to include any worry about the physical packaging of your product.

When organizing the packaging section of your business plan, you can answer the following questions to make maximum use of this section.

Is your choice of packaging consistent with your positioning strategy?
What key value proposition does your packaging communicate? (It should reflect the key value proposition of your business)
How does your packaging compare to that of your competitors?

Social Media

Your 21st-century business needs to have a good social media presence. Not having one is leaving out opportunities for growth and reaching out to your prospect.

You do not have to join the thousands of social media platforms out there. What you need to do is join the ones that your customers are active on and be active there.

Businesses use social media to provide information about their products such as promotions, discounts, the benefits of their products, and content on their blogs.

Social media is also a platform for engaging with your customers and getting feedback about your products or services. Make no mistake, more and more of your prospects are using social media channels to find more information about companies.

You need to consider the social media channels you want to prioritize your business (prioritize the ones your customers are active in) and your branding plans in this section.

Choosing the right social media platform

Strategic Alliances

If your company plans to work closely with other companies as part of your sales and marketing plan, include it in this section. Prove details about those partnerships in your business plan if you have already established them.

Strategic alliances can be beneficial for all parties involved including your company. Working closely with another company in the form of a partnership can provide access to a different target market segment for your company.

The company you are partnering with may also gain access to your target market or simply offer a new product or service (that of your company) to its customers.

Mutually beneficial partnerships can cover the weaknesses of one company with the strength of another. You should consider strategic alliances with companies that sell complimentary products to yours. For example, if you provide printers, you can partner with a company that produces ink since the customers that buy printers from you will also need inks for printing.

Steps Involved in Creating a Marketing and Sales Plan

1. Focus on Your Target Market

Identify who your customers are, the market you want to target. Then determine the best ways to get your products or services to your potential customers.

2. Evaluate Your Competition

One of the goals of having a marketing plan is to distinguish yourself from your competition. You cannot stand out from them without first knowing them in and out.

You can know your competitors by gathering information about their products, pricing, service, and advertising campaigns.

These questions can help you know your competition.

What makes your competition successful?
What are their weaknesses?
What are customers saying about your competition?

3. Consider Your Brand

Customers' perception of your brand has a strong impact on your sales. Your marketing and sales plan should seek to bolster the image of your brand. Before you start marketing your business, think about the message you want to pass across about your business and your products and services.

4. Focus on Benefits

The majority of your customers do not view your product in terms of features, what they want to know is the benefits and solutions your product offers. Think about the problems your product solves and the benefits it delivers, and use it to create the right sales and marketing message.

Your marketing plan should focus on what you want your customer to get instead of what you provide. Identify those benefits in your marketing and sales plan.

5. Focus on Differentiation

Your marketing and sales plan should look for a unique angle they can take that differentiates your business from the competition, even if the products offered are similar. Some good areas of differentiation you can use are your benefits, pricing, and features.

Key Questions to Answer When Writing Your Marketing and Sales Plan

What is your company’s budget for sales and marketing campaigns?
What key metrics will you use to determine if your marketing plans are successful?
What are your alternatives if your initial marketing efforts do not succeed?
Who are the sales representatives you need to promote your products or services?
What are the marketing and sales channels you plan to use? How do you plan to get your products in front of your ideal customers?
Where will you sell your products?

You may want to include samples of marketing materials you plan to use such as print ads, website descriptions, and social media ads. While it is not compulsory to include these samples, it can help you better communicate your marketing and sales plan and objectives.

The purpose of the marketing and sales section is to answer this question “How will you reach your customers?” If you cannot convincingly provide an answer to this question, you need to rework your marketing and sales section.

7. Clearly Show Your Funding Request

If you are writing your business plan to ask for funding from investors or financial institutions, the funding request section is where you will outline your funding requirements. The funding request section should answer the question ‘How much money will your business need in the near future (3 to 5 years)?’

A good funding request section will clearly outline and explain the amount of funding your business needs over the next five years. You need to know the amount of money your business needs to make an accurate funding request.

Also, when writing your funding request, provide details of how the funds will be used over the period. Specify if you want to use the funds to buy raw materials or machinery, pay salaries, pay for advertisements, and cover specific bills such as rent and electricity.

In addition to explaining what you want to use the funds requested for, you need to clearly state the projected return on investment (ROI) . Investors and creditors want to know if your business can generate profit for them if they put funds into it.

Ensure you do not inflate the figures and stay as realistic as possible. Investors and financial institutions you are seeking funds from will do their research before investing money in your business.

If you are not sure of an exact number to request from, you can use some range of numbers as rough estimates. Add a best-case scenario and a work-case scenario to your funding request. Also, include a description of your strategic future financial plans such as selling your business or paying off debts.

Funding Request: Debt or Equity?

When making your funding request, specify the type of funding you want. Do you want debt or equity? Draw out the terms that will be applicable for the funding, and the length of time the funding request will cover.

Case for Equity

If your new business has not yet started generating profits, you are most likely preparing to sell equity in your business to raise capital at the early stage. Equity here refers to ownership. In this case, you are selling a portion of your company to raise capital.

Although this method of raising capital for your business does not put your business in debt, keep in mind that an equity owner may expect to play a key role in company decisions even if he does not hold a major stake in the company.

Most equity sales for startups are usually private transactions . If you are making a funding request by offering equity in exchange for funding, let the investor know that they will be paid a dividend (a share of the company’s profit). Also, let the investor know the process for selling their equity in your business.

Case for Debt

You may decide not to offer equity in exchange for funds, instead, you make a funding request with the promise to pay back the money borrowed at the agreed time frame.

When making a funding request with an agreement to pay back, note that you will have to repay your creditors both the principal amount borrowed and the interest on it. Financial institutions offer this type of funding for businesses.

Large companies combine both equity and debt in their capital structure. When drafting your business plan, decide if you want to offer both or one over the other.

Before you sell equity in exchange for funding in your business, consider if you are willing to accept not being in total control of your business. Also, before you seek loans in your funding request section, ensure that the terms of repayment are favorable.

You should set a clear timeline in your funding request so that potential investors and creditors can know what you are expecting. Some investors and creditors may agree to your funding request and then delay payment for longer than 30 days, meanwhile, your business needs an immediate cash injection to operate efficiently.

Additional Tips for Writing the Funding Request Section of your Business Plan

The funding request section is not necessary for every business, it is only needed by businesses who plan to use their business plan to secure funding.

If you are adding the funding request section to your business plan, provide an itemized summary of how you plan to use the funds requested. Hiring a lawyer, accountant, or other professionals may be necessary for the proper development of this section.

You should also gather and use financial statements that add credibility and support to your funding requests. Ensure that the financial statements you use should include your projected financial data such as projected cash flows, forecast statements, and expenditure budgets.

If you are an existing business, include all historical financial statements such as cash flow statements, balance sheets and income statements .

Provide monthly and quarterly financial statements for a year. If your business has records that date back beyond the one-year mark, add the yearly statements of those years. These documents are for the appendix section of your business plan.

8. Detail Your Financial Plan, Metrics, and Projections

If you used the funding request section in your business plan, supplement it with a financial plan, metrics, and projections. This section paints a picture of the past performance of your business and then goes ahead to make an informed projection about its future.

The goal of this section is to convince readers that your business is going to be a financial success. It outlines your business plan to generate enough profit to repay the loan (with interest if applicable) and to generate a decent return on investment for investors.

If you have an existing business already in operation, use this section to demonstrate stability through finance. This section should include your cash flow statements, balance sheets, and income statements covering the last three to five years. If your business has some acceptable collateral that you can use to acquire loans, list it in the financial plan, metrics, and projection section.

Apart from current financial statements, this section should also contain a prospective financial outlook that spans the next five years. Include forecasted income statements, cash flow statements, balance sheets, and capital expenditure budget.

If your business is new and is not yet generating profit, use clear and realistic projections to show the potentials of your business.

When drafting this section, research industry norms and the performance of comparable businesses. Your financial projections should cover at least five years. State the logic behind your financial projections. Remember you can always make adjustments to this section as the variables change.

The financial plan, metrics, and projection section create a baseline which your business can either exceed or fail to reach. If your business fails to reach your projections in this section, you need to understand why it failed.

Investors and loan managers spend a lot of time going through the financial plan, metrics, and projection section compared to other parts of the business plan. Ensure you spend time creating credible financial analyses for your business in this section.

Many entrepreneurs find this section daunting to write. You do not need a business degree to create a solid financial forecast for your business. Business finances, especially for startups, are not as complicated as they seem. There are several online tools and templates that make writing this section so much easier.

Use Graphs and Charts

The financial plan, metrics, and projection section is a great place to use graphs and charts to tell the financial story of your business. Charts and images make it easier to communicate your finances.

Accuracy in this section is key, ensure you carefully analyze your past financial statements properly before making financial projects.

Address the Risk Factors and Show Realistic Financial Projections

Keep your financial plan, metrics, and projection realistic. It is okay to be optimistic in your financial projection, however, you have to justify it.

You should also address the various risk factors associated with your business in this section. Investors want to know the potential risks involved, show them. You should also show your plans for mitigating those risks.

What You Should In The Financial Plan, Metrics, and Projection Section of Your Business Plan

The financial plan, metrics, and projection section of your business plan should have monthly sales and revenue forecasts for the first year. It should also include annual projections that cover 3 to 5 years.

A three-year projection is a basic requirement to have in your business plan. However, some investors may request a five-year forecast.

Your business plan should include the following financial statements: sales forecast, personnel plan, income statement, income statement, cash flow statement, balance sheet, and an exit strategy.

1. Sales Forecast

Sales forecast refers to your projections about the number of sales your business is going to record over the next few years. It is typically broken into several rows, with each row assigned to a core product or service that your business is offering.

One common mistake people make in their business plan is to break down the sales forecast section into long details. A sales forecast should forecast the high-level details.

For example, if you are forecasting sales for a payroll software provider, you could break down your forecast into target market segments or subscription categories.

Your sales forecast section should also have a corresponding row for each sales row to cover the direct cost or Cost of Goods Sold (COGS). The objective of these rows is to show the expenses that your business incurs in making and delivering your product or service.

Note that your Cost of Goods Sold (COGS) should only cover those direct costs incurred when making your products. Other indirect expenses such as insurance, salaries, payroll tax, and rent should not be included.

For example, the Cost of Goods Sold (COGS) for a restaurant is the cost of ingredients while for a consulting company it will be the cost of paper and other presentation materials.

2. Personnel Plan

The personnel plan section is where you provide details about the payment plan for your employees. For a small business, you can easily list every position in your company and how much you plan to pay in the personnel plan.

However, for larger businesses, you have to break the personnel plan into functional groups such as sales and marketing.

The personnel plan will also include the cost of an employee beyond salary, commonly referred to as the employee burden. These costs include insurance, payroll taxes , and other essential costs incurred monthly as a result of having employees on your payroll.

3. Income Statement

The income statement section shows if your business is making a profit or taking a loss. Another name for the income statement is the profit and loss (P&L). It takes data from your sales forecast and personnel plan and adds other ongoing expenses you incur while running your business.

Every business plan should have an income statement. It subtracts your business expenses from its earnings to show if your business is generating profit or incurring losses.

The income statement has the following items: sales, Cost of Goods Sold (COGS), gross margin, operating expenses, total operating expenses, operating income , total expenses, and net profit.

Sales refer to the revenue your business generates from selling its products or services. Other names for sales are income or revenue.
Cost of Goods Sold (COGS) refers to the total cost of selling your products. Other names for COGS are direct costs or cost of sales. Manufacturing businesses use the Costs of Goods Manufactured (COGM) .
Gross Margin is the figure you get when you subtract your COGS from your sales. In your income statement, you can express it as a percentage of total sales (Gross margin / Sales = Gross Margin Percent).
Operating Expenses refer to all the expenses you incur from running your business. It exempts the COGS because it stands alone as a core part of your income statement. You also have to exclude taxes, depreciation, and amortization. Your operating expenses include salaries, marketing expenses, research and development (R&D) expenses, and other expenses.
Total Operating Expenses refers to the sum of all your operating expenses including those exemptions named above under operating expenses.
Operating Income refers to earnings before interest, taxes, depreciation, and amortization. It is simply known as the acronym EBITDA (earnings before interest, taxes, depreciation, and amortization). Calculating your operating income is simple, all you need to do is to subtract your COGS and total operating expenses from your sales.
Total Expenses refer to the sum of your operating expenses and your business’ interest, taxes, depreciation, and amortization.
Net profit shows whether your business has made a profit or taken a loss during a given timeframe.

4. Cash Flow Statement

The cash flow statement tracks the money you have in the bank at any given point. It is often confused with the income statement or the profit and loss statement. They are both different types of financial statements. The income statement calculates your profits and losses while the cash flow statement shows you how much you have in the bank.

5. Balance Sheet

The balance sheet is a financial statement that provides an overview of the financial health of your business. It contains information about the assets and liabilities of your company, and owner’s or shareholders’ equity.

You can get the net worth of your company by subtracting your company’s liabilities from its assets.

6. Exit Strategy

The exit strategy refers to a probable plan for selling your business either to the public in an IPO or to another company. It is the last thing you include in the financial plan, metrics, and projection section.

You can choose to omit the exit strategy from your business plan if you plan to maintain full ownership of your business and do not plan on seeking angel investment or virtual capitalist (VC) funding.

Investors may want to know what your exit plan is. They invest in your business to get a good return on investment.

Your exit strategy does not have to include long and boring details. Ensure you identify some interested parties who may be interested in buying the company if it becomes a success.

Exit Strategy Section of Business Plan Infographic

Key Questions to Answer with Your Financial Plan, Metrics, and Projection

Your financial plan, metrics, and projection section helps investors, creditors, or your internal managers to understand what your expenses are, the amount of cash you need, and what it takes to make your company profitable. It also shows what you will be doing with any funding.

You do not need to show actual financial data if you do not have one. Adding forecasts and projections to your financial statements is added proof that your strategy is feasible and shows investors you have planned properly.

Here are some key questions to answer to help you develop this section.

What is your sales forecast for the next year?
When will your company achieve a positive cash flow?
What are the core expenses you need to operate?
How much money do you need upfront to operate or grow your company?
How will you use the loans or investments?

9. Add an Appendix to Your Business Plan

Adding an appendix to your business plan is optional. It is a useful place to put any charts, tables, legal notes, definitions, permits, résumés, and other critical information that do not fit into other sections of your business plan.

The appendix section is where you would want to include details of a patent or patent-pending if you have one. You can always add illustrations or images of your products here. It is the last section of your business plan.

When writing your business plan, there are details you cut short or remove to prevent the entire section from becoming too lengthy. There are also details you want to include in the business plan but are not a good fit for any of the previous sections. You can add that additional information to the appendix section.

Businesses also use the appendix section to include supporting documents or other materials specially requested by investors or lenders.

You can include just about any information that supports the assumptions and statements you made in the business plan under the appendix. It is the one place in the business plan where unrelated data and information can coexist amicably.

If your appendix section is lengthy, try organizing it by adding a table of contents at the beginning of the appendix section. It is also advisable to group similar information to make it easier for the reader to access them.

A well-organized appendix section makes it easier to share your information clearly and concisely. Add footnotes throughout the rest of the business plan or make references in the plan to the documents in the appendix.

The appendix section is usually only necessary if you are seeking funding from investors or lenders, or hoping to attract partners.

People reading business plans do not want to spend time going through a heap of backup information, numbers, and charts. Keep these documents or information in the Appendix section in case the reader wants to dig deeper.

Common Items to Include in the Appendix Section of Your Business Plan

The appendix section includes documents that supplement or support the information or claims given in other sections of the business plans. Common items you can include in the appendix section include:

Additional data about the process of manufacturing or creation
Additional description of products or services such as product schematics
Additional financial documents or projections
Articles of incorporation and status
Backup for market research or competitive analysis
Bank statements
Business registries
Client testimonials (if your business is already running)
Copies of insurances
Credit histories (personal or/and business)
Deeds and permits
Equipment leases
Examples of marketing and advertising collateral
Industry associations and memberships
Images of product
Intellectual property
Key customer contracts
Legal documents and other contracts
Letters of reference
Links to references
Market research data
Organizational charts
Photographs of potential facilities
Professional licenses pertaining to your legal structure or type of business
Purchase orders
Resumes of the founder(s) and key managers
State and federal identification numbers or codes
Trademarks or patents’ registrations

Avoid using the appendix section as a place to dump any document or information you feel like adding. Only add documents or information that you support or increase the credibility of your business plan.

Tips and Strategies for Writing a Convincing Business Plan

To achieve a perfect business plan, you need to consider some key tips and strategies. These tips will raise the efficiency of your business plan above average.

1. Know Your Audience

When writing a business plan, you need to know your audience . Business owners write business plans for different reasons. Your business plan has to be specific. For example, you can write business plans to potential investors, banks, and even fellow board members of the company.

The audience you are writing to determines the structure of the business plan. As a business owner, you have to know your audience. Not everyone will be your audience. Knowing your audience will help you to narrow the scope of your business plan.

Consider what your audience wants to see in your projects, the likely questions they might ask, and what interests them.

A business plan used to address a company's board members will center on its employment schemes, internal affairs, projects, stakeholders, etc.
A business plan for financial institutions will talk about the size of your market and the chances for you to pay back any loans you demand.
A business plan for investors will show proof that you can return the investment capital within a specific time. In addition, it discusses your financial projections, tractions, and market size.

2. Get Inspiration from People

Writing a business plan from scratch as an entrepreneur can be daunting. That is why you need the right inspiration to push you to write one. You can gain inspiration from the successful business plans of other businesses. Look at their business plans, the style they use, the structure of the project, etc.

To make your business plan easier to create, search companies related to your business to get an exact copy of what you need to create an effective business plan. You can also make references while citing examples in your business plans.

When drafting your business plan, get as much help from others as you possibly can. By getting inspiration from people, you can create something better than what they have.

3. Avoid Being Over Optimistic

Many business owners make use of strong adjectives to qualify their content. One of the big mistakes entrepreneurs make when preparing a business plan is promising too much.

The use of superlatives and over-optimistic claims can prepare the audience for more than you can offer. In the end, you disappoint the confidence they have in you.

In most cases, the best option is to be realistic with your claims and statistics. Most of the investors can sense a bit of incompetency from the overuse of superlatives. As a new entrepreneur, do not be tempted to over-promise to get the interests of investors.

The concept of entrepreneurship centers on risks, nothing is certain when you make future analyses. What separates the best is the ability to do careful research and work towards achieving that, not promising more than you can achieve.

To make an excellent first impression as an entrepreneur, replace superlatives with compelling data-driven content. In this way, you are more specific than someone promising a huge ROI from an investment.

4. Keep it Simple and Short

When writing business plans, ensure you keep them simple throughout. Irrespective of the purpose of the business plan, your goal is to convince the audience.

One way to achieve this goal is to make them understand your proposal. Therefore, it would be best if you avoid the use of complex grammar to express yourself. It would be a huge turn-off if the people you want to convince are not familiar with your use of words.

Another thing to note is the length of your business plan. It would be best if you made it as brief as possible.

You hardly see investors or agencies that read through an extremely long document. In that case, if your first few pages can’t convince them, then you have lost it. The more pages you write, the higher the chances of you derailing from the essential contents.

To ensure your business plan has a high conversion rate, you need to dispose of every unnecessary information. For example, if you have a strategy that you are not sure of, it would be best to leave it out of the plan.

5. Make an Outline and Follow Through

A perfect business plan must have touched every part needed to convince the audience. Business owners get easily tempted to concentrate more on their products than on other sections. Doing this can be detrimental to the efficiency of the business plan.

For example, imagine you talking about a product but omitting or providing very little information about the target audience. You will leave your clients confused.

To ensure that your business plan communicates your full business model to readers, you have to input all the necessary information in it. One of the best ways to achieve this is to design a structure and stick to it.

This structure is what guides you throughout the writing. To make your work easier, you can assign an estimated word count or page limit to every section to avoid making it too bulky for easy reading. As a guide, the necessary things your business plan must contain are:

Table of contents
Introduction
Product or service description
Target audience
Market size
Competition analysis
Financial projections

Some specific businesses can include some other essential sections, but these are the key sections that must be in every business plan.

6. Ask a Professional to Proofread

When writing a business plan, you must tie all loose ends to get a perfect result. When you are done with writing, call a professional to go through the document for you. You are bound to make mistakes, and the way to correct them is to get external help.

You should get a professional in your field who can relate to every section of your business plan. It would be easier for the professional to notice the inner flaws in the document than an editor with no knowledge of your business.

In addition to getting a professional to proofread, get an editor to proofread and edit your document. The editor will help you identify grammatical errors, spelling mistakes, and inappropriate writing styles.

Writing a business plan can be daunting, but you can surmount that obstacle and get the best out of it with these tips.

Business Plan Examples and Templates That’ll Save You Tons of Time

1. hubspot's one-page business plan.

The one-page business plan template by HubSpot is the perfect guide for businesses of any size, irrespective of their business strategy. Although the template is condensed into a page, your final business plan should not be a page long! The template is designed to ask helpful questions that can help you develop your business plan.

Hubspot’s one-page business plan template is divided into nine fields:

Business opportunity
Company description
Industry analysis
Target market
Implementation timeline
Marketing plan
Financial summary
Funding required

2. Bplan’s Free Business Plan Template

Bplans' free business plan template is investor-approved. It is a rich template used by prestigious educational institutions such as Babson College and Princeton University to teach entrepreneurs how to create a business plan.

The template has six sections: the executive summary, opportunity, execution, company, financial plan, and appendix. There is a step-by-step guide for writing every little detail in the business plan. Follow the instructions each step of the way and you will create a business plan that impresses investors or lenders easily.

3. HubSpot's Downloadable Business Plan Template

HubSpot’s downloadable business plan template is a more comprehensive option compared to the one-page business template by HubSpot. This free and downloadable business plan template is designed for entrepreneurs.

The template is a comprehensive guide and checklist for business owners just starting their businesses. It tells you everything you need to fill in each section of the business plan and how to do it.

There are nine sections in this business plan template: an executive summary, company and business description, product and services line, market analysis, marketing plan, sales plan, legal notes, financial considerations, and appendix.

4. Business Plan by My Own Business Institute

My Own Business Institute (MOBI) which is a part of Santa Clara University's Center for Innovation and Entrepreneurship offers a free business plan template. You can either copy the free business template from the link provided above or download it as a Word document.

The comprehensive template consists of a whopping 15 sections.

The Business Profile
The Vision and the People
Home-Based Business and Freelance Business Opportunities
Organization
Licenses and Permits
Business Insurance
Communication Tools
Acquisitions
Location and Leasing
Accounting and Cash Flow
Opening and Marketing
Managing Employees
Expanding and Handling Problems

There are lots of helpful tips on how to fill each section in the free business plan template by MOBI.

5. Score's Business Plan Template for Startups

Score is an American nonprofit organization that helps entrepreneurs build successful companies. This business plan template for startups by Score is available for free download. The business plan template asks a whooping 150 generic questions that help entrepreneurs from different fields to set up the perfect business plan.

The business plan template for startups contains clear instructions and worksheets, all you have to do is answer the questions and fill the worksheets.

There are nine sections in the business plan template: executive summary, company description, products and services, marketing plan, operational plan, management and organization, startup expenses and capitalization, financial plan, and appendices.

The ‘refining the plan’ resource contains instructions that help you modify your business plan to suit your specific needs, industry, and target audience. After you have completed Score’s business plan template, you can work with a SCORE mentor for expert advice in business planning.

6. Minimalist Architecture Business Plan Template by Venngage

The minimalist architecture business plan template is a simple template by Venngage that you can customize to suit your business needs .

There are five sections in the template: an executive summary, statement of problem, approach and methodology, qualifications, and schedule and benchmark. The business plan template has instructions that guide users on what to fill in each section.

7. Small Business Administration Free Business Plan Template

The Small Business Administration (SBA) offers two free business plan templates, filled with practical real-life examples that you can model to create your business plan. Both free business plan templates are written by fictional business owners: Rebecca who owns a consulting firm, and Andrew who owns a toy company.

There are five sections in the two SBA’s free business plan templates.

Executive Summary
Company Description
Service Line
Marketing and Sales

8. The $100 Startup's One-Page Business Plan

The one-page business plan by the $100 startup is a simple business plan template for entrepreneurs who do not want to create a long and complicated plan . You can include more details in the appendices for funders who want more information beyond what you can put in the one-page business plan.

There are five sections in the one-page business plan such as overview, ka-ching, hustling, success, and obstacles or challenges or open questions. You can answer all the questions using one or two sentences.

9. PandaDoc’s Free Business Plan Template

The free business plan template by PandaDoc is a comprehensive 15-page document that describes the information you should include in every section.

There are 11 sections in PandaDoc’s free business plan template.

Executive summary
Business description
Products and services
Operations plan
Management organization
Financial plan
Conclusion / Call to action
Confidentiality statement

You have to sign up for its 14-day free trial to access the template. You will find different business plan templates on PandaDoc once you sign up (including templates for general businesses and specific businesses such as bakeries, startups, restaurants, salons, hotels, and coffee shops)

PandaDoc allows you to customize its business plan templates to fit the needs of your business. After editing the template, you can send it to interested parties and track opens and views through PandaDoc.

10. Invoiceberry Templates for Word, Open Office, Excel, or PPT

InvoiceBerry is a U.K based online invoicing and tracking platform that offers free business plan templates in .docx, .odt, .xlsx, and .pptx formats for freelancers and small businesses.

Before you can download the free business plan template, it will ask you to give it your email address. After you complete the little task, it will send the download link to your inbox for you to download. It also provides a business plan checklist in .xlsx file format that ensures you add the right information to the business plan.

Alternatives to the Traditional Business Plan

A business plan is very important in mapping out how one expects their business to grow over a set number of years, particularly when they need external investment in their business. However, many investors do not have the time to watch you present your business plan. It is a long and boring read.

Luckily, there are three alternatives to the traditional business plan (the Business Model Canvas, Lean Canvas, and Startup Pitch Deck). These alternatives are less laborious and easier and quicker to present to investors.

Business Model Canvas (BMC)

The business model canvas is a business tool used to present all the important components of setting up a business, such as customers, route to market, value proposition, and finance in a single sheet. It provides a very focused blueprint that defines your business initially which you can later expand on if needed.

The sheet is divided mainly into company, industry, and consumer models that are interconnected in how they find problems and proffer solutions.

Segments of the Business Model Canvas

The business model canvas was developed by founder Alexander Osterwalder to answer important business questions. It contains nine segments.

Key Partners: Who will be occupying important executive positions in your business? What do they bring to the table? Will there be a third party involved with the company?
Key Activities: What important activities will production entail? What activities will be carried out to ensure the smooth running of the company?
The Product’s Value Propositions: What does your product do? How will it be different from other products?
Customer Segments: What demography of consumers are you targeting? What are the habits of these consumers? Who are the MVPs of your target consumers?
Customer Relationships: How will the team support and work with its customer base? How do you intend to build and maintain trust with the customer?
Key Resources: What type of personnel and tools will be needed? What size of the budget will they need access to?
Channels: How do you plan to create awareness of your products? How do you intend to transport your product to the customer?
Cost Structure: What is the estimated cost of production? How much will distribution cost?
Revenue Streams: For what value are customers willing to pay? How do they prefer to pay for the product? Are there any external revenues attached apart from the main source? How do the revenue streams contribute to the overall revenue?

Lean Canvas

The lean canvas is a problem-oriented alternative to the standard business model canvas. It was proposed by Ash Maurya, creator of Lean Stack as a development of the business model generation. It uses a more problem-focused approach and it majorly targets entrepreneurs and startup businesses.

Lean Canvas uses the same 9 blocks concept as the business model canvas, however, they have been modified slightly to suit the needs and purpose of a small startup. The key partners, key activities, customer relationships, and key resources are replaced by new segments which are:

Problem: Simple and straightforward number of problems you have identified, ideally three.
Solution: The solutions to each problem.
Unfair Advantage: Something you possess that can't be easily bought or replicated.
Key Metrics: Important numbers that will tell how your business is doing.

Startup Pitch Deck

While the business model canvas compresses into a factual sheet, startup pitch decks expand flamboyantly.

Pitch decks, through slides, convey your business plan, often through graphs and images used to emphasize estimations and observations in your presentation. Entrepreneurs often use pitch decks to fully convince their target audience of their plans before discussing funding arrangements.

Considering the likelihood of it being used in a small time frame, a good startup pitch deck should ideally contain 20 slides or less to have enough time to answer questions from the audience.

Unlike the standard and lean business model canvases, a pitch deck doesn't have a set template on how to present your business plan but there are still important components to it. These components often mirror those of the business model canvas except that they are in slide form and contain more details.

Using Airbnb (one of the most successful start-ups in recent history) for reference, the important components of a good slide are listed below.

Cover/Introduction Slide: Here, you should include your company's name and mission statement. Your mission statement should be a very catchy tagline. Also, include personal information and contact details to provide an easy link for potential investors.
Problem Slide: This slide requires you to create a connection with the audience or the investor that you are pitching. For example in their pitch, Airbnb summarized the most important problems it would solve in three brief points – pricing of hotels, disconnection from city culture, and connection problems for local bookings.
Solution Slide: This slide includes your core value proposition. List simple and direct solutions to the problems you have mentioned
Customer Analysis: Here you will provide information on the customers you will be offering your service to. The identity of your customers plays an important part in fundraising as well as the long-run viability of the business.
Market Validation: Use competitive analysis to show numbers that prove the presence of a market for your product, industry behavior in the present and the long run, as well as the percentage of the market you aim to attract. It shows that you understand your competitors and customers and convinces investors of the opportunities presented in the market.
Business Model: Your business model is the hook of your presentation. It may vary in complexity but it should generally include a pricing system informed by your market analysis. The goal of the slide is to confirm your business model is easy to implement.
Marketing Strategy: This slide should summarize a few customer acquisition methods that you plan to use to grow the business.
Competitive Advantage: What this slide will do is provide information on what will set you apart and make you a more attractive option to customers. It could be the possession of technology that is not widely known in the market.
Team Slide: Here you will give a brief description of your team. Include your key management personnel here and their specific roles in the company. Include their educational background, job history, and skillsets. Also, talk about their accomplishments in their careers so far to build investors' confidence in members of your team.
Traction Slide: This validates the company’s business model by showing growth through early sales and support. The slide aims to reduce any lingering fears in potential investors by showing realistic periodic milestones and profit margins. It can include current sales, growth, valuable customers, pre-orders, or data from surveys outlining current consumer interest.
Funding Slide: This slide is popularly referred to as ‘the ask'. Here you will include important details like how much is needed to get your business off the ground and how the funding will be spent to help the company reach its goals.
Appendix Slides: Your pitch deck appendix should always be included alongside a standard pitch presentation. It consists of additional slides you could not show in the pitch deck but you need to complement your presentation.

It is important to support your calculations with pictorial renditions. Infographics, such as pie charts or bar graphs, will be more effective in presenting the information than just listing numbers. For example, a six-month graph that shows rising profit margins will easily look more impressive than merely writing it.

Lastly, since a pitch deck is primarily used to secure meetings and you may be sharing your pitch with several investors, it is advisable to keep a separate public version that doesn't include financials. Only disclose the one with projections once you have secured a link with an investor.

Advantages of the Business Model Canvas, Lean Canvas, and Startup Pitch Deck over the Traditional Business Plan

Time-Saving: Writing a detailed traditional business plan could take weeks or months. On the other hand, all three alternatives can be done in a few days or even one night of brainstorming if you have a comprehensive understanding of your business.
Easier to Understand: Since the information presented is almost entirely factual, it puts focus on what is most important in running the business. They cut away the excess pages of fillers in a traditional business plan and allow investors to see what is driving the business and what is getting in the way.
Easy to Update: Businesses typically present their business plans to many potential investors before they secure funding. What this means is that you may regularly have to amend your presentation to update statistics or adjust to audience-specific needs. For a traditional business plan, this could mean rewriting a whole section of your plan. For the three alternatives, updating is much easier because they are not voluminous.
Guide for a More In-depth Business Plan: All three alternatives have the added benefit of being able to double as a sketch of your business plan if the need to create one arises in the future.

Business Plan FAQ

Business plans are important for any entrepreneur who is looking for a framework to run their company over some time or seeking external support. Although they are essential for new businesses, every company should ideally have a business plan to track their growth from time to time. They can be used by startups seeking investments or loans to convey their business ideas or an employee to convince his boss of the feasibility of starting a new project. They can also be used by companies seeking to recruit high-profile employee targets into key positions or trying to secure partnerships with other firms.

Business plans often vary depending on your target audience, the scope, and the goals for the plan. Startup plans are the most common among the different types of business plans. A start-up plan is used by a new business to present all the necessary information to help get the business up and running. They are usually used by entrepreneurs who are seeking funding from investors or bank loans. The established company alternative to a start-up plan is a feasibility plan. A feasibility plan is often used by an established company looking for new business opportunities. They are used to show the upsides of creating a new product for a consumer base. Because the audience is usually company people, it requires less company analysis. The third type of business plan is the lean business plan. A lean business plan is a brief, straight-to-the-point breakdown of your ideas and analysis for your business. It does not contain details of your proposal and can be written on one page. Finally, you have the what-if plan. As it implies, a what-if plan is a preparation for the worst-case scenario. You must always be prepared for the possibility of your original plan being rejected. A good what-if plan will serve as a good plan B to the original.

A good business plan has 10 key components. They include an executive plan, product analysis, desired customer base, company analysis, industry analysis, marketing strategy, sales strategy, financial projection, funding, and appendix. Executive Plan Your business should begin with your executive plan. An executive plan will provide early insight into what you are planning to achieve with your business. It should include your mission statement and highlight some of the important points which you will explain later. Product Analysis The next component of your business plan is your product analysis. A key part of this section is explaining the type of item or service you are going to offer as well as the market problems your product will solve. Desired Consumer Base Your product analysis should be supplemented with a detailed breakdown of your desired consumer base. Investors are always interested in knowing the economic power of your market as well as potential MVP customers. Company Analysis The next component of your business plan is your company analysis. Here, you explain how you want to run your business. It will include your operational strategy, an insight into the workforce needed to keep the company running, and important executive positions. It will also provide a calculation of expected operational costs. Industry Analysis A good business plan should also contain well laid out industry analysis. It is important to convince potential investors you know the companies you will be competing with, as well as your plans to gain an edge on the competition. Marketing Strategy Your business plan should also include your marketing strategy. This is how you intend to spread awareness of your product. It should include a detailed explanation of the company brand as well as your advertising methods. Sales Strategy Your sales strategy comes after the market strategy. Here you give an overview of your company's pricing strategy and how you aim to maximize profits. You can also explain how your prices will adapt to market behaviors. Financial Projection The financial projection is the next component of your business plan. It explains your company's expected running cost and revenue earned during the tenure of the business plan. Financial projection gives a clear idea of how your company will develop in the future. Funding The next component of your business plan is funding. You have to detail how much external investment you need to get your business idea off the ground here. Appendix The last component of your plan is the appendix. This is where you put licenses, graphs, or key information that does not fit in any of the other components.

The business model canvas is a business management tool used to quickly define your business idea and model. It is often used when investors need you to pitch your business idea during a brief window.

A pitch deck is similar to a business model canvas except that it makes use of slides in its presentation. A pitch is not primarily used to secure funding, rather its main purpose is to entice potential investors by selling a very optimistic outlook on the business.

Business plan competitions help you evaluate the strength of your business plan. By participating in business plan competitions, you are improving your experience. The experience provides you with a degree of validation while practicing important skills. The main motivation for entering into the competitions is often to secure funding by finishing in podium positions. There is also the chance that you may catch the eye of a casual observer outside of the competition. These competitions also provide good networking opportunities. You could meet mentors who will take a keen interest in guiding you in your business journey. You also have the opportunity to meet other entrepreneurs whose ideas can complement yours.

Exlore Further

12 Key Elements of a Business Plan (Top Components Explained)
13 Sources of Business Finance For Companies & Sole Traders
5 Common Types of Business Structures (+ Pros & Cons)
How to Buy a Business in 8 Steps (+ Due Diligence Checklist)

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Martin luenendonk.

Martin loves entrepreneurship and has helped dozens of entrepreneurs by validating the business idea, finding scalable customer acquisition channels, and building a data-driven organization. During his time working in investment banking, tech startups, and industry-leading companies he gained extensive knowledge in using different software tools to optimize business processes.

This insights and his love for researching SaaS products enables him to provide in-depth, fact-based software reviews to enable software buyers make better decisions.

Business plan conclusion: Why Your Business Plan'sConclusion Matters More Than You Think

1. the power of a strong conclusion, 2. summarizing your business plan, 3. reinforcing key points, 4. inspiring confidence in investors, 5. demonstrating strategic thinking, 6. addressing potential concerns, 7. setting clear goals for the future, 8. leaving a lasting impression.

9. Taking Action Based on Your Conclusion

1. summarize the main points : A strong conclusion should succinctly summarize the main ideas and objectives outlined in your business plan . By restating these points, you reinforce their importance and ensure they are fresh in the reader's mind.

2. Emphasize the value proposition: Use the conclusion to highlight the unique value proposition of your business. Clearly articulate how your product or service solves a problem or meets a need in the market. This helps to solidify your business's position and differentiate it from competitors.

3. Inspire confidence: A well-crafted conclusion instills confidence in investors or stakeholders. showcase the potential for growth and profitability, backed by market research and data. By demonstrating a clear path to success , you can inspire trust and support for your business venture .

4. Call to action: Encourage the reader to take the next step, whether it's investing in your business, partnering with you, or simply learning more. Provide contact information or direct them to relevant resources where they can find additional information.

Remember, a strong conclusion should leave a lasting impact and compel the reader to take action. By incorporating these elements and utilizing examples to illustrate key ideas, you can create a compelling conclusion that reinforces the significance of your business plan .

The Power of a Strong Conclusion - Business plan conclusion: Why Your Business Plan'sConclusion Matters More Than You Think

When it comes to summarizing your business plan , it is crucial to understand the significance of the conclusion. This final section serves as a powerful tool to leave a lasting impression on your readers and stakeholders. It encapsulates the key points and highlights the value proposition of your business.

1. Emphasize the main objectives: In this section, you can reiterate the primary goals and objectives of your business plan. By clearly stating what you aim to achieve, you provide a concise overview of your business's purpose.

2. Showcase the unique selling proposition : Highlight the factors that set your business apart from competitors. This could include innovative features, superior customer service , or a differentiated business model. By emphasizing your unique selling proposition , you demonstrate the value your business brings to the market.

3. Discuss market potential: Provide insights into the market size , growth potential, and target audience. explain how your business plan addresses the needs and demands of your target market. Use relevant data and statistics to support your claims.

4. Outline the implementation strategy: Describe the steps you will take to execute your business plan successfully. This could include marketing strategies, operational processes, and resource allocation. By outlining your implementation strategy, you demonstrate your preparedness and ability to turn your plan into action .

5. Highlight financial projections: Summarize the financial forecasts and projections outlined in your business plan. This includes revenue projections, cost analysis, and profitability estimates. Use examples and charts to illustrate the potential financial success of your business.

Remember, the conclusion of your business plan is an opportunity to leave a strong and memorable impression. By effectively summarizing the key elements of your plan and showcasing its value, you can inspire confidence and interest in your business venture.

Summarizing Your Business Plan - Business plan conclusion: Why Your Business Plan'sConclusion Matters More Than You Think

1. Summarize Strategic Objectives:

- The conclusion is your last chance to reiterate the strategic objectives outlined in your business plan. Summarize them succinctly, emphasizing their alignment with your overall vision. Consider this paragraph as a "bird's-eye view" of your plan.

- Example : Imagine you're launching a tech startup . Your strategic objectives might include expanding market reach , enhancing user experience , and achieving profitability. In the conclusion, you'd briefly recap these goals and their significance.

2. highlight Competitive advantages :

- Remind your audience of your unique selling proposition (USP) and competitive advantages. What sets your business apart? Is it cutting-edge technology, exceptional customer service , or a disruptive pricing model?

- Example : A coffee shop's USP could be its ethically sourced beans, cozy ambiance, and personalized service. In the conclusion, emphasize how these factors position your coffee shop for success.

3. Reinforce Financial Viability:

- Investors and stakeholders want assurance that your business is financially viable. Summarize key financial projections, such as revenue forecasts, profit margins, and break-even points.

- Example : If you're seeking funding for a renewable energy project, highlight the projected return on investment (ROI) and the positive impact on the environment .

4. Address risks and Mitigation strategies :

- Acknowledge potential risks and uncertainties . Discuss how you plan to mitigate them. Transparency here builds credibility.

- Example : A software company might face risks related to cybersecurity threats. In the conclusion, mention your robust security protocols and disaster recovery plans .

5. Reiterate market Research findings :

- Remind readers of your market research. Highlight key insights about your target audience , market trends, and growth potential.

- Example : If you're launching a fitness app, emphasize the rising health consciousness among millennials and the increasing demand for virtual workouts.

6. Invoke Emotion and Vision:

- Conclusions aren't just about facts; they're about inspiration. Paint a vivid picture of your business's future. Tap into emotions and aspirations.

- Example : A nonprofit organization working on clean water projects could evoke empathy by describing the impact of their work on a child's life.

7. Call to Action (CTA):

- End with a strong CTA. What do you want your audience to do next? Whether it's investing, partnering, or joining your team, be clear.

- Example : "Join us in revolutionizing healthcare. Invest in our telemedicine platform today!"

Remember, the conclusion isn't an afterthought—it's a powerful tool to leave a lasting impression. Craft it carefully, and watch your business plan resonate with its intended audience.

Reinforcing Key Points - Business plan conclusion: Why Your Business Plan'sConclusion Matters More Than You Think

Inspiring confidence in investors is a crucial aspect of any business plan. It involves showcasing the potential of your business and convincing investors that their investment will yield positive returns. Here are some key points to consider:

1. highlighting the market opportunity : Start by providing a detailed analysis of the market your business operates in. Discuss the size, growth potential, and trends that make it an attractive investment opportunity. Back your claims with relevant data and statistics.

2. Demonstrating a solid business model : Investors want to see a well-defined and sustainable business model . Explain how your company generates revenue, acquires customers, and maintains a competitive advantage. Use real-life examples or case studies to illustrate the effectiveness of your model.

3. Showcasing a strong management team: Investors often invest in people as much as they invest in ideas. Introduce your management team and highlight their expertise, experience, and track record. Emphasize how their skills align with the business goals and how they can navigate challenges effectively.

4. Presenting a compelling value proposition: Clearly articulate the unique value your product or service offers to customers. Explain how it solves a problem or fulfills a need better than existing alternatives. Use customer testimonials or success stories to validate your claims.

5. Providing a realistic financial forecast: Investors need to see a clear path to profitability. Present a detailed financial forecast that includes revenue projections, cost structures, and anticipated growth rates. Be transparent about the assumptions made and provide a realistic assessment of potential risks.

Remember, inspiring confidence in investors requires a comprehensive and well-structured approach. By addressing these key points, you can effectively convey the potential of your business and instill trust in potential investors .

Inspiring Confidence in Investors - Business plan conclusion: Why Your Business Plan'sConclusion Matters More Than You Think

1. understanding the Competitive landscape : Strategic thinking requires a deep understanding of the competitive landscape. By analyzing market trends , competitor strategies, and customer preferences, businesses can identify unique opportunities and position themselves advantageously.

2. setting Clear objectives : Strategic thinking involves setting clear objectives that align with the overall business goals. By defining specific, measurable, achievable, relevant, and time-bound (SMART) objectives, businesses can focus their efforts and resources effectively.

3. identifying risks and Mitigation Strategies: Strategic thinking involves identifying potential risks and developing mitigation strategies. By conducting a thorough risk analysis , businesses can proactively address challenges and minimize their impact on the overall business plan.

4. leveraging Innovation and creativity : Strategic thinking encourages businesses to embrace innovation and creativity. By exploring new ideas, technologies, and approaches, businesses can differentiate themselves from competitors and seize new opportunities in the market .

5. Collaborating and Building Partnerships: Strategic thinking emphasizes the importance of collaboration and partnerships. By fostering relationships with key stakeholders, businesses can leverage collective expertise, resources, and networks to achieve shared goals.

To illustrate these concepts, let's consider an example. Imagine a tech startup aiming to disrupt the ride-sharing industry. In the section on "Demonstrating Strategic Thinking," the startup could discuss how it analyzed the competitive landscape, identified gaps in existing services, and set clear objectives to provide a unique customer experience . Additionally, the section could highlight how the startup mitigated risks by developing robust cybersecurity measures and leveraged innovation by integrating artificial intelligence algorithms to optimize route planning and enhance customer satisfaction. Furthermore, the startup could emphasize its collaborations with local governments and transportation authorities to ensure regulatory compliance and foster trust among users.

By incorporating these diverse perspectives and insights, the section on "Demonstrating Strategic Thinking" within the article effectively explores the nuances of strategic thinking without explicitly stating the section title.

Demonstrating Strategic Thinking - Business plan conclusion: Why Your Business Plan'sConclusion Matters More Than You Think

Addressing potential concerns is a crucial aspect when it comes to the conclusion of a business plan. In this section, we will delve into the nuances and provide comprehensive details without explicitly stating the section title.

1. Anticipating Market Challenges: One potential concern that businesses need to address in their conclusion is the anticipation of market challenges. By acknowledging potential obstacles and demonstrating a proactive approach to overcome them, businesses can instill confidence in investors and stakeholders.

2. mitigating Financial risks : Another important aspect is addressing potential financial risks . This can be done by outlining contingency plans, conducting thorough market research , and showcasing a realistic financial projection. Providing examples of how the business plans to mitigate risks can strengthen the conclusion.

3. Ensuring Scalability: Scalability is a concern for many businesses, especially startups. In this section, it is essential to highlight strategies and measures that will enable the business to scale effectively. This could include discussing partnerships, expansion plans, or innovative approaches to meet growing demands.

4. Addressing Competitive Landscape: Businesses should also address the competitive landscape in their conclusion. By demonstrating a deep understanding of the market and showcasing unique selling propositions, businesses can position themselves as strong contenders in the industry. Providing examples of how the business plans to differentiate itself from competitors can add credibility to the conclusion.

5. incorporating Stakeholder feedback : Lastly, it is important to address potential concerns raised by stakeholders. This could involve incorporating feedback from market research , customer surveys, or focus groups. By showing that the business has actively listened to stakeholders and made necessary adjustments, the conclusion can reflect a customer-centric approach .

Remember, addressing potential concerns in the conclusion of a business plan is crucial for instilling confidence and demonstrating a thorough understanding of the market. By incorporating diverse perspectives, utilizing numbered lists, and providing relevant examples, businesses can create a comprehensive section that effectively addresses potential concerns.

Addressing Potential Concerns - Business plan conclusion: Why Your Business Plan'sConclusion Matters More Than You Think

setting clear goals for the future is a crucial aspect of any business plan. It allows businesses to define their direction, prioritize their efforts, and measure their progress. Here are some key points to consider:

1. Vision and Mission: Clearly articulate the long-term vision and mission of your business. This provides a guiding framework for setting goals and making strategic decisions .

2. SMART Goals: Ensure that your goals are Specific, Measurable, Achievable, Relevant, and Time-bound. This framework helps to create clear and actionable objectives.

3. Prioritization: Identify the most important goals that align with your business's strategic priorities. Focus on goals that have the highest impact on your overall success.

4. Breakdown into Milestones: Divide your goals into smaller milestones or targets. This allows for better tracking of progress and provides a sense of accomplishment along the way.

5. Accountability and Ownership: Assign responsibility for each goal to specific individuals or teams. This promotes accountability and ensures that progress is actively monitored.

6. Flexibility and Adaptability: Recognize that goals may need to be adjusted or revised based on changing circumstances. Stay agile and be open to modifying goals as needed.

7. Communication and Alignment: Clearly communicate goals to all stakeholders, including employees, investors, and partners. This fosters alignment and ensures everyone is working towards the same objectives.

Remember, setting clear goals is not a one-time activity. Regularly review and reassess your goals to ensure they remain relevant and aligned with your business's evolving needs. By setting clear goals, you provide a roadmap for success and increase the likelihood of achieving your desired outcomes.

Setting Clear Goals for the Future - Business plan conclusion: Why Your Business Plan'sConclusion Matters More Than You Think

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Crafting a Winning Business Plan Conclusion Example

When developing a comprehensive business plan, every section plays a pivotal role in conveying your business’s vision and strategy. However, the conclusion is particularly impactful, serving as the final opportunity to leave a lasting impression on readers. This critical segment wraps up your plan, reinforcing the key concepts you’ve presented throughout the document. Moreover, an effective conclusion not only summarizes essential points but also inspires action, encouraging potential investors or partners to engage with your business further. With an impressive business plan conclusion example, you can effectively summarize your objectives and motivate stakeholders to join your journey.

Your conclusion should reflect the essence of your business while making a strong case for its potential. It is the element of your plan that can convert interest into actionable steps, whether that means securing funding, forming strategic partnerships, or generating enthusiasm among your team. In this article, we will explore the importance of a strong conclusion, the elements necessary to make it impactful, and provide you with effective examples that can guide you in writing your own. Understanding how to craft this segment can significantly improve your overall business plan, making it more compelling and persuasive. Let’s delve into how to create a conclusion that resonates with your audience.

Effective Business Plan Conclusion Examples to Inspire Your Own

Creating a solid business plan is crucial for anyone looking to start or grow a business. The conclusion often gets overlooked but is essential in tying together your business plan. An effective conclusion not only reiterates your key points but also provides inspiration and a call to action for your readers. Here’s how to craft an impactful business plan conclusion.

The Importance of a Strong

A well-crafted conclusion gives your audience a lasting impression. It summarizes your entire plan, ensuring no key points get lost in details. Furthermore, it can guide potential investors and partners in understanding the direction of your business. Here are some critical elements to include:

Recap Key Highlights: Remind readers of your unique selling propositions and financial projections.
State Your Vision: Share where you see your business headed, emphasizing growth and sustainability.
Call to Action: Encourage readers to take the next step, whether that’s investing, partnering, or simply reaching out for more information.

Examples of Effective Business Plan Conclusions

Let’s look at some practical examples to see how you can articulate your own conclusion effectively.

Example 1: The Visionary Approach

“In summary, [Your Business Name] aims to revolutionize the way consumers engage with fitness. Our innovative platform connects users to personalized training programs powered by top-tier fitness experts. As we move forward, our goal is to achieve a 200% growth in our user base within the next two years. We invite you to join us on this exciting journey and be a part of transforming the fitness industry.”

Example 2: The Financial Focus

“To conclude, our projections indicate that [Your Business Name] will not only break even within the first year but will also generate a profit margin of 30% by the end of year three. With your support, we can fast-track our growth and dominate the market. Let’s work together to make this vision a reality.”

Example 3: The Community-Oriented Approach

“As we have outlined, [Your Business Name] is committed to building a community-centered business model that values customer feedback and innovation. By promoting sustainability and ethical practices, we will establish a brand that resonates with our consumers. We encourage you to come aboard and help fuel this meaningful change.”

Crafting Your Own Business Plan

When writing your conclusion, keep in mind the reader’s perspective. Here are some techniques you can use:

Keep It Concise: Avoid unnecessary jargon. Provide a straightforward summary that is easy to understand.
Show Enthusiasm: Use positive language that reflects your passion for your business. This feeling can be contagious.
Be Clear: Ensure your call to action is specific. Mention how you would like the reader to respond or engage with you.

Final Thoughts

An effective conclusion should inspire potential investors and partners to act. Utilize these examples to guide your writing, ensuring that your business plan radiates clarity and confidence. Remember, the final impression can often matter more than the details. Engage your readers and inspire them to see the potential in your business.

By incorporating these strategies, you will create a powerful conclusion that not only summarizes your business plan but also enhances its overall impact. Your conclusion should leave readers excited about the future of your business and eager to be a part of it.

Use these examples as a template or inspiration while crafting your own business plan conclusion. Keep your core message clear, passionate, and inviting. This approach will help you connect with your audience on a deeper level while encouraging them to take the necessary steps to take action.

Key Components of a Strong Business Plan

A strong business plan is crucial for anyone looking to start or expand their business. It serves as a roadmap, guiding you through the various steps of your business journey. It also helps attract investors and secure financing by showcasing your vision and the viability of your business. To create an effective business plan, there are several key components you should include.

Executive Summary

The executive summary is the first part of your business plan, although it is often written last. It provides a brief overview of your entire plan. This section should highlight your business idea, the mission statement, your target market, and the key financial information. Keep it concise to grab the reader’s attention while providing essential details on your business goals.

Business Description

In the business description section, elaborate on what your business does and what products or services you offer. Include information about the industry landscape, your business structure (e.g., LLC, corporation), and your unique selling proposition. This section lets potential investors understand the purpose and scope of your business.

Market Analysis

Your market analysis provides insight into your target market and the competitive landscape. This section should include:

Industry Overview: Analyze the current state of your industry, including trends and growth potential.
Target Market: Describe your ideal customers, their demographics, and behaviors.
Competitive Analysis: Identify your main competitors, their strengths and weaknesses, and your competitive advantage.

Organization and Management

In this section, outline your business’s organizational structure and management team. Include bios of key team members, their roles, and their relevant experience. This information helps establish credibility and demonstrates that you have a capable team to execute your business plan.

Products or Services

Detail what products or services you plan to offer. This section should cover:

Description: Describe each product or service along with its features and benefits.
Pricing Strategy: Explain your pricing structure and how it compares to your competitors.
Product Lifecycle: Discuss the expected lifespan of your products and any plans for updates or new offerings.

Marketing and Sales Strategy

Outlining your marketing and sales strategy is crucial. This section should cover how you plan to attract and retain customers. Consider including elements such as:

Promotion: Discuss your advertising, branding, and public relations strategies.
Distribution Channels: Explain where and how customers will buy your products or services.
Sales Strategy: Outline your sales process and any sales objectives you aim to achieve.

Funding Requirements

If you are seeking financing , be clear about your funding requirements. Specify how much money you need, how you plan to use it, and potential funding sources. Investors want to know how their money will help grow your business and generate returns.

Financial Projections

Financial projections are essential to demonstrate your business’s profitability. Include forecasts for:

Income Statement: Project your revenue, expenses, and profits for the next three to five years.
Cash Flow Statement: Layout your projected cash inflows and outflows.
Balance Sheet: Provide an estimate of your business assets, liabilities, and equity at specific periods.

The appendix contains any additional information or documents that support your business plan. This might include resumes of team members, legal agreements, product images, and other supporting documents. While it is not mandatory to have an appendix, including pertinent documents can enhance your plan’s credibility.

Creating a strong business plan requires careful thought and attention to detail. Each component plays a vital role in presenting your business idea in the best light possible. By including all these sections, you will provide potential investors with a comprehensive view of your business strategy, helping you achieve your goals.

Common Mistakes in Business Plan Conclusions

When creating a business plan, it’s crucial to focus on every section, particularly the conclusion. Many entrepreneurs overlook this final part, thinking it doesn’t hold much weight. However, the conclusion can be the difference between securing investment and losing potential supporters. Here are common mistakes to watch out for when crafting the conclusion of your business plan.

Neglecting to Summarize Key Points

One significant error is failing to summarize the essential aspects of the business plan. The conclusion should revisit the main goals, strategies, and financial projections. It effectively reinforces your ideas and reminds the reader why your business concept is compelling.

Consider including a brief recap of:

Your business objectives
The target market you aim to reach
Your unique selling proposition (USP)
The projected revenue and growth

Being Too Vague

Another mistake is being too vague in the conclusion. Statements like “We plan to be successful” do not offer concrete information. Utilize your conclusion to present clear, definitive plans and goals that substantiate your vision. Remember, investors want to know precisely how you plan to achieve success.

Ignoring the Importance of a Call to Action

A compelling conclusion ends with a call to action. Many entrepreneurs forget to invite their readers, especially potential investors, to take the next step. Whether it’s scheduling a meeting or providing contact information for further discussions, clearly guiding the reader on how to engage with you can enhance the effectiveness of the conclusion. Consider phrases like:

“We invite you to discuss this exciting opportunity further.”
“Reach out to us if you’re interested in learning more.”
“Let’s connect and explore this venture together.”

While Blending Emotions with Facts

While appealing to emotions is important, the conclusion should primarily focus on facts and figures. Relying too heavily on emotional language can lead to skepticism from potential investors. It’s essential to strike a balance between passion for your business and the provision of quantitative data that supports your claims. Show enthusiasm, but also ensure your business plan holds up under scrutiny.

Failure to Highlight Unique Advantages

Another common pitfall is neglecting to reiterate your unique advantages. Investors need to understand what makes your business special. Use this final opportunity to reinforce how your offering stands out in the market and why consumers will choose you over competitors. Clearly articulate your differentiators, such as innovative technology, superior customer service, or exceptional quality.

Overlooking Future Potential

Many forget to illustrate the long-term potential of the business. Just demonstrating current market position isn’t enough. Discuss how the business can grow and evolve. Mention upcoming trends, potential scaling opportunities, or new product launches that could expand your market reach. By painting a picture of future success, you create an enticing proposition for stakeholders.

Keep in mind these mistakes as you finalize your business plan’s conclusion. A well-structured and thoughtful conclusion can leave a lasting impression. Avoid vague statements, focus on facts over emotions, and ensure you clearly outline your unique advantages and future potential. A well-crafted conclusion not only summarizes your business plan but also serves as a powerful tool to engage and convince your audience.

Ultimately, the conclusion of your business plan has the potential to seal the deal. Revisit each aspect with care, ensuring you communicate your vision with clarity and conviction. A strong conclusion can make investors feel confident about joining you on your entrepreneurial journey.

How to Summarize Your Business Goals Creatively

Setting and summarizing business goals effectively can determine the success of your enterprise. It’s crucial to do this in a way that not only communicates your objectives but also inspires your team and stakeholders. Here are some creative methods to summarize your business goals that can engage and motivate others.

Visual Storytelling

Using visual elements can help in summarizing complex business goals. You can create infographics that portray your goals visually. This method allows you to convey information quickly and in an engaging manner. Consider using:

Charts to represent growth targets.
Icons to symbolize key objectives.
Color codes to differentiate between various types of goals—short-term versus long-term.

Visual storytelling makes the goals memorable. Your team is more likely to remember a vivid infographic than a plain text document. When presenting to stakeholders, a well-designed visual can significantly enhance understanding and retention.

Catchy Taglines and Slogans

Creating a catchy tagline or slogan for each goal can transform the way you communicate your objectives. A memorable phrase can encapsulate the core idea of a goal, making it easy for everyone to recall. For example:

If your goal is to improve customer satisfaction, a tagline like “Delighting Customers, Every Time!” sets a clear expectation.
A slogan such as “Innovate to Elevate!” can succinctly express your goal of product development.

When your team feels connected to these phrases, it fosters a sense of ownership and pride. Slogans can be shared in meetings, emails, or even on social media to maintain focus.

Goal Mapping

Turning your goals into a mind map can help everyone visualize the paths toward achieving them. These maps showcase relationships between goals, enabling your team to understand the bigger picture. In your mind map, you can:

Place your primary objective at the center.
Branch out to show key performance indicators (KPIs).
Present action items linked to each goal for clarity.

This method not only inspires creativity but also encourages collaboration, as team members can contribute their ideas on how to achieve specific targets.

Storytelling Techniques

Everyone loves a good story. Weave your business goals into a narrative format that highlights their significance. By framing your goals like a story, you can engage your audience emotionally. For instance, share a client success story to illustrate your goal of expanding your market reach. Include:

The challenge faced by the client.
The innovative solution your business provided.
The remarkable results achieved.

This storytelling technique helps your audience see the potential impact of achieving these goals, thereby creating a sense of urgency and importance.

Interactive Workshops

Organize interactive workshops where team members can collaborate in brainstorming sessions. Encourage them to share their interpretations of the business goals. You can use tools like:

Whiteboards for jotting down ideas.
Post-it notes for goal prioritization.
Digital brainstorming apps for remote teams.

These workshops can generate creative solutions while allowing everyone to play a part in the summarization process. It helps foster a stronger team bond and a shared commitment to achieving the goals.

Regular Check-Ins

Summarizing your business goals isn’t a one-time activity. Schedule regular check-ins to review progress and reframe objectives as needed. Use these sessions to:

Celebrate accomplishments and milestones.
Identify hurdles and brainstorm solutions.
Reiterate and refresh goal summaries.

Continuous communication keeps everyone aligned and motivated. It creates a culture of accountability and progress tracking.

Utilizing these creative methods can invigorate the process of summarizing your business goals. You not only clarify intentions but also maintain motivation among your team. Remember, the more engaging and relatable your goals are, the better the chances of achieving them!

The Importance of a Compelling Conclusion in Business Plans

When crafting a business plan, every section holds its own weight. Yet, the conclusion is unique; it’s the final push, the moment of clarification. A compelling conclusion in a business plan isn’t just an ending—it’s a strategic advantage. It summarizes your vision and solidifies the reader’s trust in your business idea. Here’s why a strong conclusion is vital and how to make it effective.

Firstly, the conclusion encapsulates the entire plan. After presenting a multitude of data, strategies, and ideas, the conclusion allows you to tie all these threads together. It provides a final perspective on how your business will succeed. In doing so, it reinforces key points and makes your overall argument more persuasive.

This section serves as a call to action. You aim to inspire your readers—potential investors, partners, or stakeholders—to take the next steps with you. A compelling conclusion should ignite enthusiasm. Use clear and impactful language to demonstrate your passion and commitment to the business venture. When readers can feel your genuine excitement, they are more likely to engage with your proposal.

To craft an impactful conclusion, consider the following elements:

Recap Key Elements: Highlight the most crucial points from your business plan. This creates a quick mental refresher for readers and ensures they remember your strengths.
Vision and Goals: Reiterate your long-term vision and goals. Be specific about where you see your business in the coming years and how you plan to get there.
Value Proposition: Clearly restate the unique value your business offers. Make it clear why your venture stands out from the competition.
Actionable Next Steps: Whether it’s a request for funding or a meeting to discuss specifics, clearly outline what you want from your readers. Provide direction for how to proceed.

While writing the conclusion, ensure it remains concise yet comprehensive. Avoid unnecessary jargon that could confuse your audience. Remember, simplicity enhances clarity. Use straightforward language and articulate your ideas in a way that resonates with your readers.

Additionally, a strong conclusion helps to build credibility. It gives an opportunity to convey your knowledge and expertise in the field. By confidently presenting your arguments, you invite readers to share in your vision while establishing trust. This trust is essential when pursuing financial support or partnerships.

In the realm of business plans, a persuasive conclusion can also set the tone for subsequent discussions. If the outcome you’re after is funding, investors often look for reassurance that their money is going to a solid concept. Highlighting your market research and potential ROI can make your pitch more enticing. Tailor your conclusion to reflect what specific stakeholders are looking for, making their interests a priority.

Moreover, leveraging emotional appeals in your conclusion can enhance its effectiveness. People often connect with stories. A brief anecdote about a challenge you faced or a success can humanize your business plan and make it more relatable. Remember to keep the emotion professional, aligning it with your business goals.

Practice makes perfect. Revise your conclusion multiple times. Make sure each word earns its place and that it flows smoothly. Seek feedback from mentors or colleagues who can offer constructive criticism. Their insights can help refine your final submission and make it stronger.

The conclusion is not merely a summary; it’s the heart of your business plan. It’s where passion meets strategy, and it can significantly influence your audience’s perception. Crafting a compelling conclusion may seem daunting, but with focus and clarity, it can become your secret weapon in persuading your audience. Embrace the power of persuasive writing, and let your conclusion shine as a reflection of your ambition and drive.

Strategies for Writing a Persuasive Business Plan Conclusion

When crafting a business plan, the conclusion isn’t just the last word; it’s a vital component that can seal the deal for investors, partners, or stakeholders. A compelling conclusion pulls together the key points while leaving the reader with a strong impression. Here are some effective strategies for writing a persuasive business plan conclusion.

Reinforce Your Vision

Your conclusion should clearly express the big picture of your business. Remind the reader of your company’s purpose and how it stands out in the market. Highlight your vision and mission statement, emphasizing their significance. For example:

Vision Statement: “Our vision is to revolutionize the way people approach sustainable living.”
Mission Statement: “Our mission is to provide eco-friendly products that promote a greener lifestyle.”

By reaffirming these statements, you solidify the foundation upon which your business stands.

Summarize Key Points

While brevity is crucial, it’s equally important to remind your audience of your plan’s key highlights. Summarize essential elements like:

Market Analysis: A brief overview of opportunities identified in the market.
Target Audience: Key demographics and their needs.
Unique Selling Proposition (USP): What sets your business apart from competitors.
Financial Projections: Key financial metrics, such as expected revenue growth or profit margins.

Keep these summaries concise but insightful. This helps the reader recall the core arguments presented throughout the document.

Highlight Benefits

Shift the focus to the benefits that the reader can expect from supporting your business. Outline what investors will gain—whether through profit margins, market share growth, or long-term stability. Make it personal. Use “you” language to engage directly with your audience, like:

“By investing in our company, you’ll play a key role in supporting sustainable communities.”
“Your partnership will not only yield substantial returns but also contribute to a brighter future.”

When readers see the potential personal or financial gain, their interest peaks.

Incorporate a Call-to-Action

A persuasive business plan conclusion should contain a powerful call-to-action (CTA). This encourages your audience to take the next step, whether that’s scheduling a follow-up meeting, making an investment, or simply expressing interest. Some examples of CTAs might include:

“Contact us today to explore how you can be part of this exciting journey.”
“Join us in making a difference in the community; let’s discuss how we can work together.”

Strong CTAs compel readers to act rather than just ponder your proposal.

Conclude with Confidence

End your conclusion confidently. Use assertive language that communicates your belief in your business plan’s success. Phrases such as “We are confident that our innovative approach will capture the market” or “We are poised to lead the industry in innovation and customer satisfaction” express that you truly believe in your project. Such confidence can be contagious; it can encourage investors to feel the same way.

Polish Your Tone

While crafting your conclusion, maintain a professional yet approachable tone. Avoid jargon and complicated terms that might alienate your audience. Simple, clear language resonates better and facilitates understanding. For instance, instead of saying, “Our proprietary technology augments operational efficiencies,” say, “Our technology makes it easier for businesses to operate smoothly.”

Remember that the final words of your business plan are impactful. They can inspire action, commitment, and investment. By reinforcing your vision, summarizing key points, highlighting benefits, incorporating a call-to-action, and concluding with confidence, you’ll create a strong business plan conclusion that resonates with your readers.

As you draft your conclusion, also consider reviewing similar successful plans for inspiration. Learning from others solidifies your understanding and enhances your writing style. Taking the time to perfect this section of your business plan can be the difference between securing funding or leaving potential support on the table.

Real-Life Business Plan Conclusion Success Stories

Crafting a business plan is a crucial step in building a successful venture. However, the culmination of that plan—the conclusion—can often be overlooked. A solid conclusion not only wraps up the document but also emphasizes key points that can motivate investors and stakeholders to take action. Here, we explore real-life examples of business plans with effective conclusions that led to success.

One remarkable case is Airbnb . When the founders, Brian Chesky and Joe Gebbia, crafted their initial business plan, their conclusion struck a chord with potential investors. They highlighted the potential of creating a global community of travelers and hosts, emphasizing the mission to democratize travel. This personal touch in their conclusion resonated, paving the way for Airbnb to disrupt the hospitality industry and achieve a multibillion-dollar valuation.

Another notable example is Dropbox . In its early stages, Dropbox’s co-founder Drew Houston provided an engaging conclusion that focused on the growing need for cloud storage solutions. He tied in real-life uses of the product that showcased its potential. By illustrating how Dropbox could save time and reduce complexity, Houston made a compelling case for investment. This clear vision and a focused conclusion helped Dropbox secure the funding it needed to innovate and expand.

Then there’s Warby Parker . Known for their affordable eyewear, Warby Parker’s business plan included a conclusion that outlined their commitment to social responsibility. They integrated the “Buy a Pair, Give a Pair” model, which appealed to consumers’ desire to make a positive impact. This conclusion did more than summarize the plan; it conveyed a deep connection to their audience, which significantly contributed to their rapid growth.

Effective conclusions not only summarize the business plan but also project enthusiasm and vision. Here are key elements that make a conclusion impactful:

Highlight of Mission and Vision: Clearly state your mission and the vision for the future. This should align with the company goals and paint a vivid picture of success.
Call to Action: Encourage investors or stakeholders to take specific actions. This might be to invest, to join your mission, or to try your product.
Summary of Key Points: Briefly recap the most important aspects of your plan, reinforcing why it’s worth the investment.
Market Potential: Provide data or projections that reflect the industry potential. Show why this is the right time to invest in your company.

In the fast-paced tech world, companies like Squarespace have also used their business plan conclusions to emphasize innovation. Their conclusion cohesively linked the evolution of web design to a need for simplicity and elegance. By painting a clear connection between their services and the user needs, Squarespace was able to attract significant investments and market traction.

Another inspiring example comes from Peloton . Their business plan conclusion touched upon the growing trend of home fitness and how Peloton provides not just a product, but a community. They showcased testimonials from users who found motivation and connections through their platform. This emotional narrative drew in investors who believed in the brand’s potential to grow exponentially.

Successful business plans often reflect a deep understanding of the market, and their conclusions can resonate on a personal level with potential backers. One proven strategy is to include customer stories or experiences that illustrate product effectiveness. This storytelling approach creates an emotional connection, making it easier for investors to envision the company’s future.

A well-crafted business plan conclusion is not just the final word; it’s an opportunity to make a memorable impact. Businesses like Airbnb, Dropbox, Warby Parker, Squarespace, and Peloton show how powerful a strategic conclusion can be. Through clarity, vision, and relatability, these companies successfully captured the attention of investors and achieved remarkable growth. Whether you’re drafting your first business plan or refining an existing one, ensure your conclusion leaves a lasting impression. This critical element may very well determine the trajectory of your business journey.

Crafting a successful business plan conclusion is more than just summarizing your key points; it’s your opportunity to make a lasting impression on readers. A well-written conclusion encapsulates the essence of your business strategy, reinforcing the vision and direction you’ve laid out. By including effective business plan conclusion examples, you can see firsthand how impactful your final remarks can be. They serve as a catalyst for interest and action, motivating investors or partners to engage with your venture.

When constructing your business plan conclusion, be sure to highlight the key components you’ve discussed throughout the document. This means revisiting your business goals and objectives and aligning them with the points made in the body of your plan. Common mistakes in business plan conclusions often stem from failing to connect these dots, leaving readers unclear about your overall vision. Instead of creating a generic closing statement, infuse creativity into your summary. Use storytelling techniques to make your goals relatable and memorable, helping your audience envision the future you are striving to create.

The importance of a compelling conclusion cannot be overstated. It is this final section that can spark excitement or investment. A persuasive conclusion leaves a lingering impact, encouraging readers to see the value in your business. Utilize strategies like calling to action, emphasizing the market opportunity, or sharing real-life success stories. These elements can help illustrate how your business can achieve its goals and resonate with the audience.

As you craft your business plan conclusion, remember that clarity and brevity are key. Let your passion shine through, and ensure that every word adds value to your overall message. By combining inspiration with a clear vision, you empower your business plan to stand out. A strong conclusion not only solidifies your ideas but also breeds confidence among your audience, positioning your business for successful engagement and future growth.

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How To Write A Business Plan (2024 Guide)

Updated: Apr 17, 2024, 11:59am

How To Write A Business Plan (2024 Guide)

Brainstorm an executive summary, create a company description, brainstorm your business goals, describe your services or products, conduct market research, create financial plans, bottom line, frequently asked questions.

Every business starts with a vision, which is distilled and communicated through a business plan. In addition to your high-level hopes and dreams, a strong business plan outlines short-term and long-term goals, budget and whatever else you might need to get started. In this guide, we’ll walk you through how to write a business plan that you can stick to and help guide your operations as you get started.

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Drafting the Summary

An executive summary is an extremely important first step in your business. You have to be able to put the basic facts of your business in an elevator pitch-style sentence to grab investors’ attention and keep their interest. This should communicate your business’s name, what the products or services you’re selling are and what marketplace you’re entering.

Ask for Help

When drafting the executive summary, you should have a few different options. Enlist a few thought partners to review your executive summary possibilities to determine which one is best.

After you have the executive summary in place, you can work on the company description, which contains more specific information. In the description, you’ll need to include your business’s registered name , your business address and any key employees involved in the business.

The business description should also include the structure of your business, such as sole proprietorship , limited liability company (LLC) , partnership or corporation. This is the time to specify how much of an ownership stake everyone has in the company. Finally, include a section that outlines the history of the company and how it has evolved over time.

Wherever you are on the business journey, you return to your goals and assess where you are in meeting your in-progress targets and setting new goals to work toward.

Numbers-based Goals

Goals can cover a variety of sections of your business. Financial and profit goals are a given for when you’re establishing your business, but there are other goals to take into account as well with regard to brand awareness and growth. For example, you might want to hit a certain number of followers across social channels or raise your engagement rates.

Another goal could be to attract new investors or find grants if you’re a nonprofit business. If you’re looking to grow, you’ll want to set revenue targets to make that happen as well.

Intangible Goals

Goals unrelated to traceable numbers are important as well. These can include seeing your business’s advertisement reach the general public or receiving a terrific client review. These goals are important for the direction you take your business and the direction you want it to go in the future.

The business plan should have a section that explains the services or products that you’re offering. This is the part where you can also describe how they fit in the current market or are providing something necessary or entirely new. If you have any patents or trademarks, this is where you can include those too.

If you have any visual aids, they should be included here as well. This would also be a good place to include pricing strategy and explain your materials.

This is the part of the business plan where you can explain your expertise and different approach in greater depth. Show how what you’re offering is vital to the market and fills an important gap.

You can also situate your business in your industry and compare it to other ones and how you have a competitive advantage in the marketplace.

Other than financial goals, you want to have a budget and set your planned weekly, monthly and annual spending. There are several different costs to consider, such as operational costs.

Business Operations Costs

Rent for your business is the first big cost to factor into your budget. If your business is remote, the cost that replaces rent will be the software that maintains your virtual operations.

Marketing and sales costs should be next on your list. Devoting money to making sure people know about your business is as important as making sure it functions.

Other Costs

Although you can’t anticipate disasters, there are likely to be unanticipated costs that come up at some point in your business’s existence. It’s important to factor these possible costs into your financial plans so you’re not caught totally unaware.

Business plans are important for businesses of all sizes so that you can define where your business is and where you want it to go. Growing your business requires a vision, and giving yourself a roadmap in the form of a business plan will set you up for success.

How do I write a simple business plan?

When you’re working on a business plan, make sure you have as much information as possible so that you can simplify it to the most relevant information. A simple business plan still needs all of the parts included in this article, but you can be very clear and direct.

What are some common mistakes in a business plan?

The most common mistakes in a business plan are common writing issues like grammar errors or misspellings. It’s important to be clear in your sentence structure and proofread your business plan before sending it to any investors or partners.

What basic items should be included in a business plan?

When writing out a business plan, you want to make sure that you cover everything related to your concept for the business, an analysis of the industry―including potential customers and an overview of the market for your goods or services―how you plan to execute your vision for the business, how you plan to grow the business if it becomes successful and all financial data around the business, including current cash on hand, potential investors and budget plans for the next few years.

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Business Plan Templates

How to write the conclusion section of your business plan.

This tutorial explains how to write the conclusion for a business document, for example, a report, thesis, project, or any document that needs a section to gather together the main points.

The structure of the conclusion is as follows:

Reviewing this conclusion, we can see that it mirrors the structure of the executive summary. This serves several purposes:

Reminding the reader of the messages made in the executive summary
Reinforce the main message the authors want to highlight
Laying information throughout the white paper to nudge the reader in the right direction.

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Comprehensive Guide to Business Continuity Management for SMBs

Last Updated:

September 13, 2024

Comprehensive Guide to Business Continuity Management for SMBs

Business Continuity Management (BCM) is a crucial aspect of operational resilience, especially for small and medium-sized businesses (SMBs). At its core, BCM involves preparing for potential disruptions—whether they stem from natural disasters, cyber attacks, or other crises—to ensure that your business can continue to operate smoothly or recover swiftly.

Larger corporations often have entire departments dedicated to this task. SMBs often operate with leaner teams, making BCM even more essential for maintaining stability and trust.

BCM is not just about technology and processes; it's about safeguarding your business's reputation and ensuring customer trust.

In today’s digital age, a single cybersecurity incident can tarnish your brand image. Having a robust Cyber Incident Response Plan and Business Continuity Plan can be the difference between a minor hiccup and a major business setback. Implementing BCM helps in minimising downtime and reducing financial losses. Most importantly, however, it helps in maintaining customer satisfaction during unforeseen events.

Key Takeaways on Comprehensive Business Continuity Management

BCM is Essential for SMB Resilience: Business Continuity Management ensures that small and medium-sized businesses can operate or recover quickly from disruptions.
Risk Assessment is Key: Start by identifying and evaluating critical assets and potential threats such as cyber-attacks, natural disasters, and supply chain disruptions.
Business Impact Analysis (BIA): A thorough BIA helps assess the financial, operational, and reputational impact of risks, setting realistic recovery goals.
Develop a Comprehensive Strategy: A well-rounded BCM strategy should include alternate procedures, backup systems, and defined communication protocols for crisis management.
Training and Communication: Ensure all stakeholders are informed, trained, and aligned with the BCM strategy, reinforcing the importance of preparedness.
Regular Testing is Crucial: Test the BCM plan through cyber drills and simulations, documenting results to identify areas for improvement.
Continuous Improvement: Update your BCM plan regularly to reflect new risks and business changes, ensuring long-term resilience.

Identifying and Assessing Potential Risks and Threats

The first step in developing an effective BCM plan is to identify and assess the potential risks and threats that could disrupt your business operations. Start by cataloguing your business-critical assets. These include everything from data and IT infrastructure to human resources and supply chains. Understanding what’s crucial to your operations will help you prioritise your efforts.

Next, conduct a thorough risk assessment to identify vulnerabilities. Consider a wide range of potential threats, including natural disasters, cyber-attacks, supply chain disruptions, and even pandemics.

Assess the likelihood and impact of each risk. Prioritise them based on their potential to disrupt your business operations. This comprehensive evaluation helps in formulating targeted strategies for risk mitigation.

Conducting a Thorough Business Impact Analysis

Once you have identified the risks, the next step is to understand their potential impact through a Business Impact Analysis (BIA). A BIA helps you evaluate how different types of disruptions could affect your business. This analysis should cover the financial, operational, and reputational impacts of each identified risk. This will provide you a clear picture of what is at stake.

The BIA also helps in establishing Recovery Time Objectives (RTOs) and Recovery Point Objectives (RPOs). RTOs define the maximum acceptable downtime before business operations must be restored, while RPOs determine the maximum acceptable data loss. These metrics are crucial for setting realistic and achievable recovery goals, ensuring that your BCM strategy is both effective and practical.

Developing a Robust Business Continuity Strategy

Armed with the insights from your risk assessment and BIA, you can now develop a robust Business Continuity Strategy. This strategy should outline the steps your business will take to minimise the impact of a crisis. Key elements of this strategy include developing alternate operating procedures, establishing backup systems, and defining emergency communication protocols.

Identify key stakeholders responsible for crisis management and assign clear roles and responsibilities. Consider involving external experts, such as cybersecurity consultants , to provide specialised support during major digital disruptions. Your strategy should be comprehensive enough to cover all aspects of your operations, ensuring that no critical function is left unprotected.

Implementing and Communicating the Business Continuity Plan

Implementation is where your BCM strategy comes to life. Start by creating detailed business continuity plans, communication plans, and procedures that align with your BCM strategy.

Ensure that all stakeholders are well-informed and trained on their roles and responsibilities. Effective communication is key to a successful implementation, so prioritise regular updates and training sessions.

Authorising the continuity plan is also crucial. This involves getting buy-in from senior management and other key stakeholders. The goal is to ensure that everyone understands the importance of BCM and is committed to its success. Regularly review and update your plans to keep them relevant and effective. Adapt them to new threats and changes in your business environment.

Regular Testing and Updating of the BCM Framework

A BCM plan is only as good as its last test. Regular testing is essential to ensure that your plans are effective and that your team is prepared to execute them. Conduct regular cyber drills and simulations to test different aspects of your BCM plan.

Document the results of these tests and use them to identify areas for improvement. Regularly update your BCM framework based on these findings. Continuous improvement is key to maintaining a robust BCM strategy.

Implementing a comprehensive Business Continuity Management framework is vital for SMBs to minimise the impact of disruptions and maintain operational efficiency during crises.

By identifying potential risks, conducting thorough impact analyses, developing robust strategies, and regularly testing and updating your disaster recovery plans, you can ensure that your business remains resilient in the face of adversity.

In today’s threat landscape, BCM is not just a nice-to-have but a critical component of long-term success, risk management, and reputation preservation. By prioritising BCM, you can safeguard your business against unforeseen events and ensure seamless operations, no matter what challenges come your way.

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What Is an Attack Vector? (Definition & 15 Key Examples)

How to plan a proactive defense strategy for cybersecurity.

Brute force attack, zero-day attack, compromised credentials, distributed denial of service (DDOS) – technical terms for the “attack vectors” (or “threat vectors”) that cyber criminals, spies and other threat actors ride to gain unauthorized access to computer systems – terms that increasingly pop up in daily life, due to the record number of data breaches .

What is an attack vector and how can you secure yours? Let’s dig into this must-know segment of cyber risk analysis.

What Is an Attack Vector?

An attack vector is defined as the method or combination of methods that cybercriminals use to breach or infiltrate a victim’s network or system. They can use various pathways through which attackers can exploit vulnerabilities, gain unauthorized access, and carry out malicious activities such as data theft, system compromise, or service disruption.

Let’s get grounded by turning to the MITRE ATT&CK framework , the bible of cyber defenders looking to understand their adversaries. MITRE ATT&CK is a vast knowledge base documenting attacker “TTPs”:

Tactics. The “Why” The adversary’s tactical goal (let’s says data exfiltration)
Techniques. The “How” (compromised username and passwords for initial access, etc.)
Procedures. The specific technical steps the adversary goes through

The framework gives details on all the reported TTPs – you can see them in this representation of the ATT&CK Matrix for Enterprise . Look at the third column, “Initial Access.” In the narrowest definition, those are the attack vectors in cybersecurity to break into your operating system (see “phishing” in this column for a well-known example).

But in the broader, more useful sense, the entire framework describes the many facets of an attack vector as it plays out in your system.

Now for some good news. The MITRE ATT&CK framework also extensively catalogs mitigations for each of the attack vectors.Under “Phishing” you can find cybersecurity controls such as Antivirus, Software Configuration (for anti-spoofing and email authentication) or User Training (to recognize a social engineering attack) – all helpful for cybersecurity teams to plan their defenses. —

What Attack Vector Requires No User Interaction?

“Zero click,” is particularly insidious technique to gain initial access launches on mobile phone systems with no human interaction or awareness. It leverages vulnerabilities in applications, services, the operating system or even at the kernel level that protects the hardware.

Key Terms: Distinguishing Attack Vectors from Related Concepts

Let’s take a moment to define some key terms, related to attack vectors:

1. Threat Actor: A person or group capable of causing a loss to our organization.

2. Attack Vector: A means for a Threat Actor to gain initial access to cause a loss to our organization. (Alternative term: Threat Vector)

3. Attack Surface: Assets or persons in our organization that could be points of initial access for a Threat Actor.

Attack Surface

An attack surface refers to the sum of all potential security risks and vulnerabilities present within an organization’s environment. It encompasses all known and unknown vulnerabilities, as well as the security controls related to all hardware, software, network components, and personnel.

It used to be a more manageable concept in the days when IT was all on-premises, defended by a perimeter firewall. Today, enterprises are overwhelmingly opting to buy rather than build digital capabilities to streamline operations, drive growth, and scale swiftly while maintaining competitive pricing.

This leads to a growing reliance on third-party technology, data, and services for strategic business initiatives, spreading the attack surface among an army of vendors, including cloud and applications hosts.

One of several recent catastrophic failures due to third-party dependency was the outage of CrowdStrike , a leader in antivirus endpoint security that pushed out buggy code to its clients. It turned out that CrowdStrike was operating at the “kernel” level of Microsoft Windows, taking down Windows systems around the world; just one effect was a global “ground stop” on flights of major airlines.

In other words, the attack surface for CrowdStrike customers was at the deepest level of their operating systems.

Threat Vector

A threat vector, often used interchangeably with an attack vector, refers to the specific methods or pathways that cybercriminals utilize to gain unauthorized access to a computer system, network, or application.

Risk scenario analysis on the SAFE One Platform

Threat Actor

In cyber risk management, the best way to think about risk is through risk scenarios, as defined by the FAIR Model for cyber risk quantification .

Scenario example:

“Analyze the risk associated with malicious external actors breaching the confidentiality of sensitive company data accessible on a lost/stolen mobile device.”

Specific threat actor(s) impacting specific asset(s) by some specific means resulting in a loss.

Any of those four elements missing, we don’t have a risk.

However, there may be many types of threat actors or groups of threat actors:

Nation states committing espionage
Cyber criminals deploying ransomware – including, in a modern twist criminals renting ransomware-as-a-service such as Black Basta
Privileged insiders who have gained access to critical systems and non-privileged insiders (everybody else) who may be acting maliciously to damage the organization or non-maliciously (emailing the wrong attachment containing sensitive information).
And in the emerging threat-actors category: AI systems accidentally leaking data or creating other novel problems.

As we saw with MITRE ATT&CK, defining our threat actor of concern is critical to understanding the tactics, techniques, and procedures (TTPs) that could be used against us – and by extension understanding the capabilities of an attacker. Quantifying threat-actor capability, along with the strength of our protective controls enables us to get a accurate read on our susceptibility to attack, important to understanding our overall loss exposure.

Third-Party Risk Management and the Attack Surface

Conventional third-party risk management (TPRM) struggles to keep up with this stretched attack surface. Traditionally, TPRM has been limited to

1. A check for compliance with accepted operational standards (SOC2, ISO or PCI-DSS), often done yearly – a major burden for both first- and third-parties to collect and process reporting from dozens of vendors

2. An outside-in scan of web-facing security applications, giving a partial, point-in-time, unreliable view of an organization’s cybersecurity controls.

In the cyber field, that practice is rapidly being outpaced by a new standard

1. Continuous inside-out monitoring of controls status at the third party to keep up with the rapidly changing digital risk landscape.

2. “Zero-trust” controls on the first party’s network to limit damage from a system intrusion that originated with a third party.

Third-party risk management on the SAFE One platform

What are Common Types of Attack Vectors You Should Know?

Attacks come in a huge variety of forms, and threat actors are always innovating on them. Here are the 15 cyber attack vectors most often seen in the wild.

1. Social Engineering

Manipulation of individuals into divulging confidential information or performing actions that compromise security. This is typically done through deception or exploiting human psychology. Examples would be phishing, business email compromise, or “deep fake” impersonation of a business leader in a voice mail.

2. Compromised and Weak Credentials

Through phishing, buying identities on the dark web, brute force or other means, an attacker acquires valid credentials to an existing account, and bypasses controls to operate within a target system.

3. Weak or Missing Encryption

An attacker gains access to transmitted network traffic by bypassing encryption to tap into confidential communications.

4. Third and Fourth-Party Vendors

Increasingly an attack vector as organizations outsource data storage and applications. For instance, organizations may create a single point of failure by over-reliance on a payments processor (as in the Change Healthcare hack). In a supply chain attack, malware can be distributed by surreptitiously slipping it into a legitimate software update (see the SolarWinds attack). Or a trusted vendor with deep access to systems can inadvertently distribute a corrupted software update (as in the CrowdStrike incident ).

5. Insider Threats

An insider threat refers to a cybersecurity risk from within an organization. Thai typically involves a current or former employee, or another individual with direct access to the company’s network, sensitive data, and intellectual property (IP). These insiders possess knowledge of business processes, company policies, and other critical information that could facilitate an attack.

Attackers may be malicious (seeking to harm the organization for vengeance or profit) non-malicious (innocently making mistakes that cause a loss) – privileged (with access to sensitive applications or data) or non-privileged. It’s important to note that not all insider threat actors act with malicious intent. Some may unknowingly become unwitting accomplices, having their digital assets compromised and exploited by external threat actors.

6. Security Misconfigurations

Security features not turned on, unnecessary services left open, default passwords not changed – are among the many ways that web-facing applications can be left vulnerable. A survey by Qualys found 31% of Amazon S3 buckets were open to the public in 2023.

7. Malware and Ransomware

A fast-growing, high-profit industry: A survey by Splunk found that 83% of organization’s paid the ransom. Ransomware is a multi-step event, starting with a malware payload delivery via email or other means to an unsuspecting human, with a stealthy execution on the target system. The victim organization’s data may be encrypted at the source or exfiltrated with a demand to pay to prevent public release. A troubling recent trend is ransomware-as-a-service, pre-packaged attacks sold to would-be extortionists, no special expertise required.

8. Brute Force Attacks

Attackers acquire passwords for initial access or to maneuver within systems. Methods might be to systematically guess weak passwords or use services that leverage previously acquired password data such as hashes.

9. Phishing

Social engineering, typically delivered by email or social media to fool the victims into clicking a link to execute malicious code on their systems. In spearfishing, a particular person or industry is targeted.

10. SQL Injections

Exploiting database vulnerabilities by injecting malicious code into a system, often through an unprotected data-entry form on a website, leading to a data breach.

11. Zero-Day Vulnerability

In this type of attack vector, a software defect unknown to the developer or the public, is discovered by attackers before patching, and delivered to users (often through phishing) to gain system access and execute malicious code.

12. Trojans

Malware disguised as legitimate software, encouraging a victim to click and download a malicious package.

13. Cross-Site Scripting (XSS)

Attackers typically inject malware into a form field on a web page often to steal log-in credentials or inject scripts that users can unknowingly execute in their browsers.

14. DDoS Attack

The Dedicated Denial of Service tactic overwhelms an endpoint or network with malicious traffic to degrade or shut down services.

15. Man-in-the-Middle Attacks

Also known as Adversary-in-the-Middle, an attacker inserts itself between networked devices perhaps with the intention of forcing devices to communicate through the attacker’s system to collect information.

Why Do Cybercriminals Target Attack Vectors?

As we’ve seen in our discussion of the MITRE ATT&CK framework, the cybersecurity and cyber risk management professions are heavily focussing on threat intelligence on cybercriminals and other threat actors. CISA (the US Cybersecurity and Infrastructure Agency), the FBI and private threat intel companies also have eyes on this threat community. All work to expose the tactics, techniques, protocols, capabilities and goals of the threat actors so cyber defenders can focus on the processes and controls that have maximum effect on thwarting and mitigating attacks.

For cyber criminals, the motivation is always money, but the specific attack vectors and crimes vary widely:

Ransomware: Attackers seize control of critical data and systems, and hold them hostage for ransom or exfiltrate it and threaten to make it public (“double extortion”)

Ransomware-as-a-Service: Criminals rent the tools to commit ransomware crimes to others.

DDoS for Ransom: Threat actors bombard a business from a bot net until the victims pay up.

Data Theft: Stealing personal information for purposes of identity theft or to commit insurance fraud. Capturing credit card information for fraudulent payments.

Business Email Compromise / Funds Transfer Fraud: Through spoofed email (phishing) or voicemail (vishing) or SMS text messages (smishing), a criminal may induce an employee to pay on a phony invoice or otherwise give up money.

Account Takeover: Through a brute force attack or credentials stealing, gain access to a bank or credit card account to make unauthorized payments.

Espionage or Sabotage for Hire. Unscrupulous corporations or nation-states may employ skilled cyber criminals as contractors.

Active vs Passive Vector Attack

Attack vectors generally fall into two categories: passive and active.

Passive Attack Vectors

Passive attack vectors involve monitoring a victim’s system for vulnerabilities. This can include open ports, misconfigurations, or unpatched software. The goal is to gain access to data and sensitive information without disrupting the system.

Examples include port scanning and social engineering. Passive attacks can be difficult to detect as they don’t alter the environment.

Active Attack Vectors

Active attack vectors are used to alter a system or disrupt its operation. While data theft is still a common goal, active attackers may also aim to cause chaos in the victim’s IT environment.

Examples include malware, ransomware, DDoS attacks, and credential theft. Active attacks directly impact the system, making them easier to identify.

8 Best Practices to Protect Attack Vectors

Employee training and awareness programs

Valuable education in how to recognize phishing emails and other defensive measures. But companies must be careful to align productivity goals with security concerns so mixed signals are sent to employees.

Scrambling data at rest or in transit so that only authorized users who have a key can convert it back to plaintext information. End-to-End encryption is the gold standard, using two different keys and creating an asymmetrical system.

Cloud Protection

Handing off your data to a major cloud vendor like Amazon should buy you first-class security out of the box, and indeed Amazon offers encryption services – if you configure your bucket correctly – and many users don’t.

Implementation of multi-layered security measures

Increasingly organizations are following “zero trust” principles mandating verification for every access request…and/or “least trust” principles restricting users to only those activities that fit their job duties…typically under the control of an Identity and Access Management (IAM) system.

Continuous monitoring and threat intelligence integration

Advanced security applications now make possible a unified, real time view of the attack surface, the threat landscape and controls status. With threat intel, risk managers can quickly create what-if scenarios after detecting an attack, anticipate the tactics of the attackers and make risk-informed decisions on deploying controls.

Regular security audits and vulnerability assessments

Advanced applications also can ingest an organization’s NIST CSF or other security documentation, inventory controls to identify gaps and give continuously updating reports on controls status.

Patching vulnerabilities

Effective patch management relies on effective risk analysis. A cyber risk quantification model like FAIR saves the security team from scrambling to remediate every audit finding of unpatched vulnerabilities, and keep focus on the risks that threaten more serious loss exposure.

Regularly update third-party software

Third-party risk management (TPRM) has emerged as a leading cybersecurity concern after high-profile third-party software fails (see SolarWinds and CrowdStrike).

Conclusion: The Importance of Proactive Defense Against Attack Vectors

It’s game on with the biggest, most dedicated team of adversaries you will ever face: cyber attackers. They will never stop innovating to find new attack vectors into your systems and your data. A passive, reactive stance – relying, for instance, on “maturity models” that rate the number of controls you have implemented – won’t meet the challenge. You need a proactive defense that combines:

Continuous attack surface monitoring for threats
Continuous monitoring of controls status and their effectiveness at risk reduction
A quantitative, risk-based approach to prioritizing security investments that empowers you to react strategically to threat vectors
Continuous updating of threat intelligence to identify the latest TTPs for attack vectors – and analysis of the strength of the organization’s relevant controls

Safe Security can help you stay proactive.

SAFE One is the only data-driven, unified platform for managing all your first-party and third-party cyber risks in real-time.

Learn more about the SAFE One Platform

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How To Write the Conclusion of a Business Plan (With Tips)
A business plan conclusion is a summary of a business plan's strengths designed to convince the reader of the company's success. Because companies typically create business plans to get funding or investors, the conclusion should focus on how the organization makes money and why it is a good investment. Companies also make business plans to ...
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This business plan conclusion is a concise summary and recap of all of the components of a business plan, but especially the executive summary. It summarizes your business plan in 2-3 paragraphs, with an emphasis on the most important points. Download our Ultimate Business Plan Template here.
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A business plan conclusion is the final section concluding very concisely the points discussed in your business plan. It reinforces the business's strengths and feasibility and reassures the readers of potential business success. It clarifies the reader's benefit of associating with your business and convinces them of a profitable ...
Writing an Effective Business Plan Conclusion: Tips & Examples
A template example of a solid business plan conclusion follows: Opportunity: Explain the opportunity that your business is capitalizing on and why it is attractive. Key Strengths: Highlight the key strengths of your plan, such as your competitive advantage and any unique selling points. Vision: Summarize your vision for the business and its future.
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Business Plan Conclusion: Summary & Recap [Updated 2022]
December 17, 2022 Robby. Your business plan's conclusion should encapsulate your overall justification for why your venture will succeed in order to draw investors or motivate your staff. Additionally, it ought to give a short future outlook outlining your goals for development and growth. The conclusion should also restate your company's ...
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A business plan conclusion redefines the company's needs, the competence of management to achieve the goals and the key points to justify why the business will succeed with funding.
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Table of Contents. A business plan is a document that you create that outlines your company's objectives and how you plan to meet those objectives. Every business plan has key sections such as ...
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Word processing software. Inside every business plan is a conclusion - and it varies depending on the industry and the audience. Regardless, this is your final pitch to summarize your entire report. A solid business plan conclusion example is one that highlights strengths and ensures the reader that your business will be a success. 10 Sec.
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When writing a business plan's conclusion, adhere to these guidelines: 1. Decide where you want it to be. Choose whether you want the executive summary or the entire document to contain your business plan's conclusion. Consider placing the conclusion at the end of the executive summary if you are writing a business plan to attract investors ...
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1. Create Your Executive Summary. The executive summary is a snapshot of your business or a high-level overview of your business purposes and plans. Although the executive summary is the first section in your business plan, most people write it last. The length of the executive summary is not more than two pages.
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A business plan conclusion, doesn't need to be very long, in fact, it can be pretty brief. Your conclusion should; reiterate the opportunity, highlight the key strengths of your plan, summarise your vision, and remind the reader why your business is in a position to successfully execute the plan. If you are looking to raise funding with your ...
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Business Plan Conclusion. The End of a Business Plan should summarize all the facts you gathered in your business plan. A template example of a solid business plan conclusion follows (feel free to use this in your business plan): The company's management is confident that The Company can achieve its aggressive sales forecasts, generating total ...
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How To Write Conclusion Of Business Plan
Your conclusion should; reiterate the opportunity. highlight the key strengths of your plan. summarise your vision. and remind the reader why your business is in a position to successfully execute the plan. For example. the conclusion of a business plan for a coffee shop might say that you expect to sell 1. 000 lattes by the first month.
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How to plan a proactive defense strategy for cybersecurity . Brute force attack, zero-day attack, compromised credentials, distributed denial of service (DDOS) - technical terms for the "attack vectors" (or "threat vectors") that cyber criminals, spies and other threat actors ride to gain unauthorized access to computer systems - terms that increasingly pop up in daily life, due to ...

Business Plan Conclusion: Summary & Recap

What is a Business Plan Conclusion?

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How To Write a Conclusion for Your Business Plan

Determine Location

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Established businesses might include information in their conclusions such as:

Support Your Claims with Stats and/or Visuals

Establish a Call-To-Action (CTA)

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