Start the opportunity chapter by describing the problem that you are solving for your customers. What is the primary pain point for them? How are they solving their problems today? Maybe the existing solutions to your customer`s problem are very expensive or cumbersome. For a business with a physical location, perhaps there aren`t any existing solutions within reasonable driving distance.
You can skip the executive summary (or greatly reduce it in scope) if you are writing an internal business plan that`s purely a strategic guide for your company. In that case, you can dispense with details about the management team, funding requirements, and traction, and instead treat the executive summary as an overview of the strategic direction of the company, to ensure that all team members are on the same page.
Moreover, business plans provide both a literal and proverbial roadmap to reach the personal and financial goals one has set out to achieve. Before writing your business plan, it`s best to spend a few days collecting information and creating financial estimates. Most of that time is spent explaining difficult questions and assumptions.
The business plan is a necessary but not sufficient condition for finding outside investors. The plan describes the business and what it might become, and that`s all. A beautifully written, edited, and formatted business plan will not make a less investible business more investible.
Why? Because once you know the details of your business inside and out, you will be better prepared to write your executive summary. After all, this section is a summary of everything else you`re going to write about.
Writing a business plan doesn`t have to be complicated. In this comprehensive guide, I`ll show you how to quickly and easily write a business plan that will get the results you want. Don`t worry, you don`t have to have a business or accounting degree to put together a great business plan. This guide will show you how to get your plan done step-by-step without any of the complexity or frustration.