A Business Plan
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My business plan serves two purposes. First, it provides me with a guide to operate my business. Secondly, it is a sales tool that has impressed bankers. I have also used it to convince distributors that I am serious about what I am doing. My plan includes the following:
Introduction Current Situation Objective Strategies Tactics Forecast BudgetIntroduction
Always include a short summary description of your business, particularly if you intend to use it to woo investors. It also serves as a reminder of where you propose to focus your efforts. Limit the length of the summary to one page and include the following:
A brief description of your book and market A brief description of your skills and competence A summary of your financial projections
1. Company and Industry. This contains background information on your company and describes the nature of your industry. It should include the following information:
For your company:
The date of incorporation Principals and what role each has played in the business to date Business purpose and highlights of progress to date
For your industry:
Present what you feel to be the current status and prospects for the overall book business; what are your sources? Describe the major “players” and how they are performing, including growth in sales, profits, and current market share.2. Product. Completely describe your book, articles, video, or skills (design, editing, e…IBPA Members – Click here to view the full article (login required).
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