template for business plan

template for business plan

Developing a Comprehensive Business Plan

1. Executive Summary

The mission statement is the foundation of the business plan. The mission statement is a clear description of the long-term range and the starting point to success. With the mission statement complete, business goals can be developed. Business goals should be specific, measurable, attainable, realistic, and time-specific. From there, a farm business can develop a strategy and a detailed action plan.

The producer should come back to the plan from time to time. The plan is a recommendation and should be used as a guide. The producer should customize the numbers and the written content to suit their own farm history, local regulations, and the products that are being sold. Step number one is to develop a mission statement for the business. This mission statement should answer the questions: what is the general purpose of this business and whom is it being designed for? The mission statement for this business will explain the work on the farm and why the work is being done. From there, business goals will be developed.

Modern Lifestyle’s formal farm business plan is an essential step towards the company’s success. It will help the company to manage the poultry farm and provide a detailed explanation to the public. This business plan is designed to provide an organized and well-formatted business plan for the poultry farm business. According to the U.S. Census of Agriculture, farms that are considered small (earning less than $50,000) account for 36% of all farms. With any size of farm, the key to success is developing a plan for future growth and operation.

2. Company Overview

After a brief planning phase, (company) was established on 4th of June 2000. It all started with only a few employees working as a freelance team doing various projects with multiple clients. During that time, it was hard to gain some projects because we were new in the business and e-commerce was not at its peak in Indonesia. We’ve had some rough times when there were no projects waiting and some misunderstandings with clients. But all that struggle has made us reach where we are today, and we are still improving till now.

The concept of this company began when the owner decided to take upon after being a consultant with a multinational company. He realized that he wants to roll his ability and philosophy in a new company where he could extract his personal strength to manage the client expectations. “…most consultants want to do their job and go home, to me that is not professional, a consultant should always go an extra mile for the client..”. That statement was the cornerstone for the company. The company (name of company) is specialized in Information Technology consulting, modeling the administration system of other businesses, either if it is a new system, existing system, problem solving, etc. The main goal of the project is to extract the true expectation of the client, to improve the IT system by integrating it with the business system without changing the original idea of the client, all that while doing an intensive communication and research with the client. This will be a great opportunity for the owner to implant his philosophy to the employees and results in an actual work satisfaction by the client of what we have done.

Company history, mission and vision.

Company history, start-up process, objectives, mission and vision of an entrepreneur’s business.

3. Market Analysis

The market at present for repair work order systems is very underdeveloped and as a result there is no one standard solution to managing work orders. There are a few businesses that specialize in building custom software for an expensive fee. These businesses can be identified through searching Google using key words such as “work order software” and “build custom database.” In general, small to medium-sized businesses who are our target market are using Microsoft Excel or Access database to manage their work orders. Occasionally, they may seek software by doing a search on the internet using the same key words. Due to the high cost of custom database development, work order software built by these custom developers is too expensive for a small to medium-sized business. Our best potential customers are those who have tried to build something themselves with Microsoft Excel or Access. This is quite evident by the search results that show people are looking for solutions to common problems with Excel and Access, such as database templates and how to link information. The most common problems faced by these people are that the maintenance and development of these systems is too time-consuming and that they do not have the ability to track the status of their work or previous work history. An affordable online hosted solution would fit these organizations the best. This would save them the need to hire in-house IT staff to maintain a custom system and would be a definite improvement from using Excel and Access due to the added functionality of work order tracking. Online hosted software is the future for all businesses, big and small, due to the ease of access and low maintenance. This market trend towards online software will need to be monitored so that future adjustments in the product can be made to meet this growing need.

Successful sales in today’s market occur by getting businesses to purchase products and services that are specific to their organization. This requires a solid understanding of the market and the ability to prove that the product will meet a particular need in the market. Therefore, it is vital to the success of the company that a product is developed with a strong understanding of the current needs and wants of the market. This understanding will need to be continually assessed to ensure that the product meets the needs of the market as it undergoes changes over time.

4. Business Strategy

Business strategy is a part of a business plan that helps the business to attain their goal. Business strategy is a long term plan to achieve the advantages and the organization objectives. When the organization wants to make changes to internal and external environment, then the organization should change their strategy to achieve their goal. According to Lampel, strategies is the way how to achieving the organization goal. A good strategy can give the advantages to the organization. In the business strategy there are some areas that the company should focus on to achieve their goal. Business strategy is mainly about two things: deciding the goal and deciding how to achieve it. The goal can be achieved in effective ways if the organization understands what their strengths are. At this point, the organization can mark their steps to success. The decision making to achieve the goals and how to allocate the resources are the ways to analyze their steps to success. Resource allocation is an important thing to note. If the company can allocate their resources in an effective way, they will get the advantages and achieve the goals.

5. Financial Projections

Financial projections are a key part of the business plan. It provides the investors and owners a glance of what the business is expected to earn and spend. Projections are used to develop an idea of how a business will perform in the first few years, and are an integral part of the decision making on whether the business will be viable, and what the owners/investors can expect in return on their investment. The first step in developing any financial projection is to make some assumptions. We will use the information from our industry analysis and the marketing plan to establish some assumptions on how much revenue the new business will be able to generate. After determining the revenue, the next step is to develop an estimate of how much money we will spend to support that revenue. This can be a difficult task as the quality of the projection is highly dependent on the quality of the assumptions. In real life situation this would be done on a computer spreadsheet, making it easier to change categories if the projection for the category in question is too high or low. This would be the preferable method. However, for the sake of this assignment, I will create a very basic example of a marketing projection for the first year of business. The chart below provides a projection of the forecasted revenue and expenses for the first year at IKEA North American Service Office. Note that all figures are in thousands. This example is a very basic and lacks detailed assumptions. An actual projection would require a significantly more detailed analysis of how much money will be spent in each category. But I feel that doing a detailed assumptions chart would be overdoing it for this assignment.