By Jocelyne F. Lafrenière

Behind business success you find inspiration, creativity, strategy, action, discipline, commitment, teamwork, and monitoring. It is critical for a new business to start its journey towards success by designing an inspired one-year business plan. As a new entrepreneur, you need to define in a start-up business plan what the business is all about, what it has accomplished to date, where it is heading, and how it will reach its destination.

A start-up business plan has no more than 20 pages and provides a clear view of the enterprise: business structure, industry specialization, product or service offerings, operational environment, distribution channels, growth opportunities, strategic direction, and pro-forma financials. Derived from the strategies and tactical plans, a one-page summary of planned investments helps investors understand the purpose of capital requirements. An overview of the marketing strategies summarizes the go-to-market approach for success. The plan is complemented with other valuable information to help investors make well-informed decisions. Take into consideration expected rate of return, collateral, risks and mitigating measures, and planned monitoring practices.

Here is a brief summary of the information to include in your business plan:

What Your Business Is All About:

•  Vision, mission, purpose, and values
•  Business name and background, business structure (corporation, partnership, sole proprietor), business location, and product location (online, physical store)
•  Industry, product or service offerings, operational environment (retail, wholesale, service, manufacturing, seasonal), and regulations
•  Organizational structure (divisions, units, departments), owners, roles, and responsibilities of key players and their skills
•  Distribution channels (direct salesforce, retailer, wholesaler, equipment manufacturer), and salesforce (salespeople, distributors, representatives, brokers, direct mail)

What It Has Accomplished To Date:

•  Growth opportunities, market share, pricing, competitors, and competitive advantages
•  Accomplishments to date, market analysis, patents, prototypes, facilities, equipment, go-to-market approach, sales, and current clients and suppliers

Where It is Heading:

•  Strategic outcome-oriented goals, mid-term strategic objectives, strategies, and tactical plans

How It Will Reach Its Destination:

•  One-page summary of planned investments (human resources, marketing, inventory, technology, facility, equipment, product development) and enhancement impacts
•  Current capital structure, financing requirements, and expected rate of return
•  One-page summary of marketing and sales approach (promotion and advertising)
•  Pro-forma financial statements, cash flow statements, and assumption

With this information in mind, you are now ready to craft a winning start-up business plan. Be confident and say, “I am a strategic thinker, and with a clear vision, a thoughtful strategy, and ongoing monitoring, I am on my way to success.”