General Business Plan Format

LETTER OF TRANSMITTAL

A letter of transmittal is similar to the cover letter of a resume. The letter of transmittal should be tailored to the reader, clearly identifying the customized ask of the potential investor or lender. It should be short and succinct, delineating the ask (i.e. funding, specialized recruiting, purchase product or service, obtain advice, etc.) within a few paragraphs. It should not summarize the business plan, as that is the job of the executive summary.

TITLE PAGE

Include nice, catchy, professional, appropriate graphics to make it appealing for targeted readers

EXECUTIVE SUMMARY

  • Can be longer than normal executive summaries ... up to 3 pages
  • Write after remainder of plan is complete
  • Include information relevant to targeted readers as this is the place where they are most likely to form their first impressions of the business idea and decide whether they wish to read the rest of the plan

TABLE OF CONTENTS

LIST OF TABLES

Be certain that each and every table, figure, and appendix included in the plan is referenced within the text of the plan so the relevance of each of these elements is clear.

LIST OF FIGURES

INTRODUCTION

  • Indicate the purpose for the plan
  • Make appealing to targeted readers


Business Idea

  • May include description of history behind the idea and the evolution of the business concept if relevant


Value Proposition

  • Explain how your business idea solves a problem for your expected customers or otherwise should make them want to purchase your product or service instead of a competitor's


Vision

  • Generally outlines what the owner intends for the venture to be
  • A good one will inspire all members of the organization
  • It should help stakeholders aspire to achieve greater things through the venture because of the general direction provided through the vision statement
  • After articulating a good vision, the business plan writer should consider what achieving the vision looks like. Many business plan writers write their vision and leave it at that. The problem with this approach is that they often then do not take the necessary steps to illustrate how the strategies they outline in their plan will move them toward achieving their vision. If they make this mistake, their strategies might indicate that they are fulfilling their current mission, but are not taking steps to move beyond that.
  • Vision statements should be clear with context throughout the business plan. For example, if the goal is to be the premier business that dues xxx in Saskatchewan, does that mean you do that in one place and are considered the best at doing it even though you only have a small corner of the market, or does it mean that you have a large market share as you have many locations across the province.

Vision statements should be clear with context throughout the business plan.


Mission

  • Should be very brief – a few sentences or a short paragraph
  • Indicates what your organization does and why it exists – may describe the business strategy and philosophy


Values

  • These are reflected in five to ten short statements indicating the important values that will guide everything the business will do
  • They outline the personal commitments members of the organization must make, and what they should consider to be important
  • They define how people behave and interact with each other
  • The proposed venture's stated values should be reflected in all of the decisions outlined in the business plan, from hiring to promotions to location choices
  • They should help the reader understand the type of culture and operating environment this business intends to develop


Major Goals

  • Describe the major organizational goals
  • Ensure each goal is:
    • Specific, Measurable, Action oriented, Realistic, and Timely [SMART]
    • Realistic, Understandable, Measureable, Believable, and Achievable [RUMBA]
  • Be certain all goals perfectly align with everything in plan
  • You should write, or re-write this section as the second last thing you do before finalizing your business plan by doing the final proof-read, polishing it up, and printing it (writing the executive Summary will be the final thing you should write).

Having goals that are SMART and RUMBA strengthens the business plan.

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