- 1). Write a description of what the business is and the goals for the business. Document the owner and principle people involved with the business. Provide your own and their individual skills for the job. Describe what differences and advantages the business has compared to the competition.
- 2). Create a marketing section of the plan. Include the products or services being offered. Document your customer base and why the customer wants your product or service. Determine the size of your market and where the customers are located. Determine pricing for the product or service and how you determined the pricing. Include how you intend to market the product or service.
- 3). Document the investment amount and the source of the initial investment. Create an initial budget broken down monthly. Project the budget for a year. Determine expected cash flow and profits as well as estimated income for two years. Determine when you expect to "break even" on income versus costs. Document how you intend to compensate yourself and other principles in the business. Select the person in charge of financial records and determine how they will keep the records. Determine contingency plans for issues that may arise such as additional costs or reduced revenue.
- 4). Develop the management structure for everyday operations. Determine personnel policies--how many people you will hire, wages, insurance and the ratio between workload and the number of needed employees. Record lease information, asset information and other aspects of doing business such as utilities and business associations. Record equipment already purchased or planned that is necessary to create your product or service. Record any delivery or transportation needs or assets.
- 5). Review the plan with principles of the business and modify as necessary. Consult with professionals that are pertinent--such as your attorney, your financial lender and local city officials--and any business advisers you deem part of the decision-making process.