We regularly receive emails from entrepreneurs and business owners who have questions related to business plans, raising capital, and starting a business. 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.
The marketing and sales plan section of your business plan details how you plan to reach your target market segments (also called target marketing ), how you plan on selling to those target markets, what your pricing plan is, and what types of activities and partnerships you need to make your business a success.
Having to write down the strategy also creates an opportunity to make sure all of the founders are literally on the same page about what they intend to do. If they are not, fruitful discussions can be started which are better to get out of the way at this early stage while plans are still much more flexible.
The opportunity chapter of your business plan is where the real meat of your plan livesâ€”it includes information about the problem that you’re solving, your solution, who you plan to sell to, and how your product or service fits into the existing competitive landscape.
EXECUTIVE SUMMARY: An executive summary of what you want to do, why you want to do it, and what the results of doing it will be. This summary should also include the benefits to others of what you intend to do. It is the most important section of the business plan and should tell your whole story in around one page.