Business Plan Guidelines
Format: The submitted business plan must be in the following format:
(See attached template)
- 30-page limit including appendices.
- One-inch margins.
- Minimum 10-point font
1. Business Summary
Briefly describe the company that is planned to be formed or already formed, and give a general idea of what the business seeks to accomplish.
2. Product/Service summary
Describe briefly the specifics of the product or service.
- Features: Describe what the product/service is.
- Benefits: Why is the product/service valuable? Value proposition.
- Competitive comparison: General comparison of the features of the product/service with the existing providers of a similar offering in the market. (Not to be confused with the description of competition that follows, as this section just deals with very general competitive comparison. For example: a comparison of medical records online as compared to the providers of medical records through traditional channels in general.)
- Technology: (if it is a technology related product/service): Do not be too technical, but mention the unique or core technological features of the product/service.
- Fulfillment: Describe how the service/product features are going to be fulfilled. For example: how the customer service is going to be fulfilled.
- Future products/enhancements/services: For example: Medical records for wireless devices.
3. Market summary
Summarize segmentation, target market, size and growth of the market.
- Market segmentation: How is the market segmented, i.e. how are the future clients classified. Explain the entire market and not just the target market.
- Target market segment: Describe who comprises the target market. Mention the size and growth of the market.
- Market need: What is the pain that the future clients are suffering from? Is the pain legitimate and how will this product/service help in solving the problem.
- Market trends: Describe the trends followed by the clients and the business participants.
- Competition: Describe the main groups of competitors and then the individual business participants in each group. This is one of the most important parts of the business plan.
- Competitive advantage: What advantage does this product/service have compared to the competitors?
4. Strategies summary
- Entry strategy: Who will be the first customers?
- Marketing strategy: Describe the marketing techniques that will be used.
- Selling strategy: How will the product/service be sold? Direct sales, salesmen, web, brick and mortar, or all of the above.
- Distribution strategy: What are the channels of distribution?
- Pricing strategy: How is the offering priced?
5. Management team summary
Describe in brief the summary organizational structure of the company.
- Management team: Describe briefly what each member brings to the table.
- Board of advisors: Describe briefly what each member brings to the table.
- Personnel plan: Show the number of people needed to be hired in the next five years and their cost.
6. Financial plan summary
Summarize the financial plan
- Important assumptions
- Break even analysis
- Profit and loss statement for five years
- Cash flow statement
- Projected balance sheet
- Exit strategy
