Business Planning & Strategy
A business plan, as defined by Entrepreneur, is a “written document describing the nature of the business, the sales and marketing strategy, and the financial background, and containing a projected profit and loss statement.” However, your business plan can serve several different purposes.
Elements of a Business Plan
Lenders want to see a business plan that is written with certain elements in a way that meets their underwriting criteria. Different Lenders have different criteria. It is important to know the Lenders and what they want. A generic plan is outlined by the SBA. qe have written many successful business plans and create one for you.
SBA.gov recommends that a business plan include:
- Executive summary — a snapshot of your business
- Company description — describes what you do
- Market analysis – research on your industry, market and competitors
- Organization and management — your business and management structure
- Service or product — the products or services you’re offering
- Marketing and sales — how you’ll market your business and your sales strategy
- Funding request — how much money you’ll need for next 3 to 5 years
- Financial projections — supply information like balance sheets
- Appendix — an optional section that includes résumés and permits
7 Step Process
We believe is checklists and procedures for any task. This includes writing a business plan. Here are the 7 Steps (Overview) we follow that include detailed descriptions.
- Research, research and when you think your’e done research again
- Clearly determine the purpose of your plan
- Create a detailed company profile, (don’t skimp)
- Record and back up with documentation all aspects of your business
- Crete a strategic marketing plan and keep it updated as markets change
- Audiences and purposes differ so make it adaptable
- Stakeholders look for sincerity and commitment, show why you care about the mission of the business
If you’re ready to get started, then we’re ready to help. Contact North American Commercial Capital today to learn more about our programs and discuss how our proven techniques can benefit you.