On the very first page, which is the title page, put down the
name of your business-ABC ACTION-with your business address
underneath. Now, skip a couple of lines, and write it all in
capital letters: PRINCIPAL OWNER-followed by your name if you're
the principal owner. On your finished report, you would want to
center this information on the page, with the words "principal
owner" off-set to the left about five spaces.
Examples: ABC ACTION
1234 SW 5th Ave.
Anywhere, USA 00000
PRINCIPAL OWNER: Your Name
That's all you'll have on this page except the page number -1-
Following your title page is the page for your statement
purpose. This should be a simple statement of your primary
business function, such as: We are a service business engaged in
the business of selling business success manuals and other
information by mail.
The title of the page should be in all capital letters across
the top of the page, centered on your final draft-skip a few
lines and write the statement of purpose. This should be direct,
clear and short-never more than (2) sentences in length.
Then you should skip a few lines, and from the left hand margin
of the paper, write out a sub-heading in all capital letters,
such as: EXPLANATION OF PURPOSE.
From, and within this sub-heading you can briefly explain your
statement of purpose, such as: Our surveys have found most
entrepreneurs to be "sadly" lacking in basic information that
will enable them to achieve success. This market is estimated at
more than a 100 million persons, with at least half of these
people actively "searching" for sources that provide the kind of
information they want, and need.
With our business, advertising and publishing experience, it is
our goal to capture at least half of this market of information
seekers, with our publication. MONEY MAKING MAGIC! Our market
research indicates we can achieve this goal and realize a profit
of $1,000,000 per year within the next 5 years...
The above example is generally the way you should write your
"explanation of purpose," and in subtle definition, why you need
an explanation. Point to remember: Keep it short. Very few
business purpose explanations justify more than a half page long.
Next comes your table of contents page. Don't really worry
about this until you've got the entire plan completed and ready
for final typing. It's a good idea though, to list the subject
(chapter titles) as I have, and then check off each one as you
complete that part of your plan.
By having a list of the points you want to cover, you'll also
be able to skip around and work on each phase of your business
plan as an idea or the interest in organizing that particular
phase, stimulates you. In other words, you won't have to make
your thinking or your planning conform to the chronological order
of the "chapters" of your business plan-another reason for the
loose leaf notebook.
In describing your business, it's best to begin where your
statement purpose leaves off. Describe your product, the
production process, who has responsibility for what, and most
importantly, what makes your product or service unique-what
gives it an edge in your market. You can briefly summarize your
business beginnings, present position and potential for future
success, as well.
Next, describe the buyers you're trying to reach-why they need
and want or will buy your product-and the results of any tests
or surveys you may have conducted. Once you've defined your
market, go on to explain how you intend to reach that market-how
you'll these prospects to your product or service and induce them
to buy. You might want to break this chapter down into sections
such as..publicity and promotions, advertising plans, direct
sales force, and dealer/distributor programs. Each section would
then be an outline of your plans and policies.
Moving into the next chapter on competition, identify who your
competitors are-their weakness and strong points-explain how
you intend to capitalize on those weaknesses and match or better
the strong points. Talk to as many of your "indirect" competitors
as possible-those operating in different cities and states.
One of the easiest ways of gathering a lot of useful
information about your competitors is by developing a series of
survey questions and sending these questionnaires out to each of
them. Later on, you might want to compile the answers to these
questionnaires into some form of directory or report on this type
of business.
It's also advisable to contact the trade associations and
publications serving your proposed type of business. For
information on trade associations and specific trade
publications, visit your public library, and after explaining
what you want ask for the librarian's help.
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