Whether you want to start a brand-new business, expansion of an existing firm or to obtain financing for the company, firm, you’ll need to write a business plan. Business plan is not only your business lends a sense of confidence, but also will help you cover all your bases, increasing your chances of success.

While writing a business plan can be lengthy, intimidating project is not necessarily difficult. Here is an outline of how to write a successful business plan.

What to include in your business plan

Your business plan must demonstrate that you carefully consider all aspects of running your business. To this end, is a standard business plan has nine main sections, covering everything from your business mission statement with a detailed financial analysis.

Summary

The first - and most important - section of your business plan is a summary. This section is so important that it should be literally the first thing the reader sees - even before the content! However, it should also be written as the last, if you have a better understanding of the overall message of your business plan after you’ve searched for, and wrote the other sections.

One of the most important part is a summary of the mission. The mission statement is only three or four sentences long, but it should pack most punch from everything else in your business plan: These four sentences are responsible for ensuring that only defines your business, but also capture the interest of your readers.

The rest of your summary should fill in relevant information that the mission statement notes. For example, your summary should include a short history of entrepreneurship, including the founder of profiles and start, the current snapshot, indicating the positions, the number of employees, and products or services and a summary of future plans and objectives.

This section is a candidate for bulleted format, which enables you to list the main points in a way that is easy to scan. Avoid the use of too much detail - remember that this part is a summary. A page or two, is usually sufficient for the summary.

Market Analysis

In other parts of its business plan focuses on market analysis. In an effort to show that your business has a reasonable chance of success, you’ll need to thoroughly investigate the industry and markets do you intend to sell. No bank or investor is going to back doomed enterprise, so this section is sure to fall under particularly careful if you are interested in financing.

Your market analysis should describe your industry, including the size, growth and development, which could have an impact on the industry. This section should also describe your target market - that is, the type or group of customers that your company intends to serve. A description of your target market should include details such as:

• Distinguishing characteristics
• The needs your company or product line will meet
• What media and/or marketing methods you’ll use to reach them
• What percentage of your target market you expect to be able to wrest away from your competitors

In addition, your market analysis should include the results of any market tests you have done, and an analysis of the strengths and weaknesses of your competitors.

Company Description

After your market analysis, your business plan will need to include a description of your company. This section should describe:

• The nature of your business
• The needs of the market
• How your business will meet these needs
• Your target market, including specific individuals and/or organizations
• The factors that set you apart from your competition and make you likely to succeed

Although some of these things overlap with the previous section, they are still necessary parts of your company description. Each section of your business plan should have the ability to stand on its own if need be. In other words, the company description should thoroughly describe your company, even if certain aspects are covered in other sections.

Organization and Management

Once you have described the nature and purpose of your company, you will need to explain your staff setup. This section should include:

• The division of labor – how company processes are divided among the staff
• The management hierarchy
• Profiles of the company’s owner(s), management personnel, and the Board of Directors
• Employee incentives, such as salary, benefits packages, and bonuses

This goal of this section is to demonstrate not only good organization within the company, but also the ability to create loyalty in your employees. Long-term employees minimize human resource costs and increase a business’s chances for success, so banks and investors will want to see that you have an effective system in place for maintaining your staff.

Marketing and Sales Management

The purpose of the marketing and sales section of your business plan is to outline your strategies for marketing your products or services. This section also plans for company growth by describing how the growth could take place.

The section should describe your company’s:

• Marketing methods
• Distributions methods
• Type of sales force
• Sales activities
• Growth strategies

“There is only one boss - the customer. And he can fire everybody in the company from the chairman on down, simply by spending his money somewhere else.” Growing Up Sam Walton’s career in retail began in 1940 when he become a sales trainee in Des Moines, Iowa at a JC Penney store. Despite his enthusiasm to serve the customers, Walton was not a model employee. His desire to make his customers happy was so great that he often years other responsibilities like paperwork and keeping the books fall by the wayside. He was almost fired by his boss who told him that he was not cut out for a career in retail. Walton kept his job, however, because of his ability as a great salesman. In 1942, Walton was drafted into the United States army. He worked in the communications division of the Army Intelligence Corps and remained on home soil throughout the Second World War. When he left the army three years later, Walton was married, had a child, and decided to start his own business to support his new family. With the $ 5000 that he had saved along with a $ 20,000 loan from his wife’s father, he purchased a Ben Franklin variety store in Newport, Arkansas. Walton was 27 years old. Starting The Business By putting in many hours at the store and implementing a pricing strategy far below what his competitors were charging, Walton’s new business took off. By 1950 he had the top performing Ben Franklin store in the area. Walton’s landlord, seeing his success, decided that he wanted Walton to sell the store to his son. When Walton refused, the landlord decided not to renew Walton’s lease and he was forced to shut down. Walton’s 10 commandments for business success were: 1) Commit to your business. 2) Share your profits with your associates and treat them like your partners. 3) Energize your colleagues. 4) Communicate everything you possibly can to your partners. 5) appreciate everything your associates do for the business. 6) Celebrate your success. 7) Listen to everyone in your company. Exceed your customers’ expectations. 9) Control your expenses better than your competition. 10) Blaze your own path. Determined as ever to succeed in his venture, Walton looked for other rural Arkansas towns for a new place to set up shop. He came across a small village called Bentonville and opened the Walton’s Five and Dime in 1950. He made sure to get a 99-year lease this time on the property. The two local competitors in Bentonville did not want to discount their prices and Walton’s business began to flourish. Realizing he had a recipe for success, Walton began looking for other areas of expansion. He borrowed money and used the profits from his first stores to acquire more. By 1960, he owned 15 stores but he was not getting the kind of return on investment that he thought he would be making. He then made the decision to follow a heavy price cutting strategy and hope to get much higher volume to turn a larger profit. This was not a new idea. The problem at the time was that most discount stores were small, located in urban areas, and focused on specialty items. Walton’s plan was to change the way retailing was done across the country. Building An Empire Walton’s revolutionary plan was to have large Superstores in rural towns that discounted a wide variety of products. His initial approach was to Ben Franklin. They turned him down as they did not like the idea of operating with lower margins. Without a large company behind him, Walton opted to go it alone. In 1962, he mortgaged his home and borrowed against everything he owned to open his first Wal-Mart in Rogers, Arkansas, and the neighboring town of Bentonville. Excited about the prospects of getting discounts and selection that were previously only obtainable in the cities, rural customers came out in droves to his store. The success of his first store allowed him to expand and by 1969 he had 18 Wal-marts in Arkansas and Missouri. Funded solely through debt and reinvested profits, Walton decided that in 1970 he would take the company public. The IPO raised $ 5 million and Walton retained 61 percent of the company. The money was used to settle the company’s debts and fuel further expansion. By 1980, 276 Wal-marts were operating. An integral component of Wal-Mart’s success was its leveraging of new technologies to improve efficiencies and save costs. Walton knew that the key to success in a low margin business was to rigidly control his costs. Wal-Mart was, for example, one of the first major retailers to use electronic scanners at the registers which tied to an inventory control system so they could know immediately which items were selling well and needed to be re-ordered. The success of his Wal-Mart stores, Sam led to another idea - Sam’s Wholesale Clubs. These would be discount stores that sold to small business owners in bulk. The idea was another big hit for Walton and by 1985 he was considered by Forbes magazine to be the richest man in America with an estimated net worth of $ 2.8 billion. Similar to Ray steps, Sam Walton did not invent retailing, he simply changed the business model and way of doing business to make it a much more profitable venture.
“There is only one boss - the customer. And he can fire everyone in the company from the chairman down, simply spending its money somewhere else.”

Growing up

Sam Walton began a career in retail in 1940, when a sales trainee in Des Moines, Iowa at the JC Penney store. Despite their enthusiasm, which will serve to customers, Walton has been a model employee. His wish that his customers happy was so great that often had other obligations, such as paperwork and management books fall into the journey. He was almost fired his boss, who told him that he was not cut out for a career in retail sales. Walton kept his job because of his ability as a big seller.

In 1942, Walton has been developed in the United States Army. He worked in the communications division of the Army Intelligence Corps and remained on the home soil throughout the Second World War. When he left the army three years later, Walton was married and has one child, and decided to start their own business to support his new family. In 5000 dollars, which was deposited with the $ 20,000 loan from his wife’s father, he bought a Ben Franklin variety store in Newport, Arkansas. Walton was 27 years old.

Start a business

Because in many hours in the shop and pricing strategy is much less than what its competitors were charging, Walton new business took off. Until 1950 was the highest power of Ben Franklin store in this area. Walton in the landlord, because its success has decided that he wanted to sell Walton store for his son. When Walton refused, the landlord decided not to renew Walton’s lease and he was forced to shut down.

Walton from the 10 commandments for business success are: 1) A commitment to your business. 2) Share your profits with their employees and treat them as partners. 3) deliver his colleagues. 4) Communications everything possible to their partners. 5) appreciate everything your associates for business. 6) Celebrate your success. 7) Listen to everyone in your company. Exceed your customers’ expectations. 9) Check your costs better than your competition. 10) Blaze your own path.

Determined as ever to succeed in its undertaking, Walton sought other rural Arkansas cities to a new place to set up shop. He came through the small village of Bentonville, and Walton opened the five-and-Dime in 1950. He certainly gets 99-year lease on the property this time. Two local competitors in Bentonville did not want to discount their prices and Walton business began to flourish.

Realization of a recipe for success, Walton began to look for other areas of expansion. He borrowed money and used the proceeds from his first business to acquire more. Until 1960, is owned 15 stores, but was not getting the type of return on investments that he thought the decision-making. Then decided to follow the heavy price reduction strategy, and we hope to get a much higher volume, which in turn greater profits. This is not a new idea. The problem then was that the majority of discounts were small, in urban areas and focused on specific items. Walton was a plan to change the way retailing has been carried out throughout the country.

Building An Empire

Walton revolutionary plan should have a big Superstores in rural towns that discounted a wide range of products. His initial approach was Ben Franklin. They him, as did not like the idea of working with lower margins. Without a large company behind him, Walton decided to go alone. In 1962 has been pledged his home and borrowed against everything he owned to open its first Wal-Mart in Rogers, Arkansas, the neighboring city of Bentonville.

Excited about the prospect of obtaining discounts and selection, which was previously reachable only in cities, rural customers came out in droves to his store. The success of its first store allowed him to extend and 1969 was 18 Wal-marketplaces in Arkansas and Missouri.

Financed exclusively through debt and reinvested earnings, Walton in 1970 decided that he would be the company public. IPO raises 5 million U.S. dollars and Walton retained 61 percent of the company. The money was used to settle the debts of the company and fuel further expansion. By 1980, 276 Wal-marketplaces have been deployed.

An integral part of Wal-Mart success has been its use of new technologies to improve efficiency and cost savings. Walton knew that the key to success in the low-margin business has been firmly control its costs. Wal-Mart, for example, one of the first large-scale retailers to use electronic scanners at the registers, which binds to the inventory control system so that it can immediately know which items are selling well and should be re-ordered.

The success of the Wal-Mart Stores, Sam led to another idea - Sam is a wholesale clubs. It would be a discount store, which sells to small businesses in bulk. This idea was another big hit for Walton and 1985, according to Forbes magazine, regarded as the richest man in America is estimated fortune of 2.8 billion dollars.

Like Ray KROC, Sam Walton was not invent the retail trade, he simply changed the business model and way of business to be much more profitable business.

Economic downturn is a phase of economic cycle in which the economy as a whole is essentially the decline. This marks the end of the period of growth in the economic cycle. Economic downturn, are characterized by decreased levels of consumer purchases (especially durable goods), and subsequently reduce the level of production companies.

While the Economic Downturn is undoubtedly difficult, and they are huge obstacles for small and medium-sized businesses that are trying to survive and grow, the economic decline may open opportunities. A well-managed company can realize the opportunity to gain market share by customers from their competitors. Resourceful entrepreneurs to capture opportunities from the economic downturn, by developing alternative ways of doing business, which were never implemented during the previous period of growth.

The task of successfully navigating your business through the economic downturn is located in the realignment of its business with current economic reality. Specifically, you as the owner of the company, the need to restore that focus on key clients / customers, reduce operating costs and saves money, and actively manage more than reactively, is paramount.

Here are the best practices that can help you successfully navigate your business through an economic downturn:

Goals:

The essential aim of any business owner is to survive the current economic downturn and create a leaner, more cost-effective and efficient operation. Secondary objective is to grow the company during the current economic downturn.

Required Action:

• Do not panic… History shows that economic downturns do not last forever. Remain calm and act in a rational manner as you refocus your attention on resizing your company to the current economic conditions.
• Focus on what YOU can control… Don’t let the media’s rhetoric concerning recessions and economic slowdown deter you from achieving business success. It´s a trap! Why? Because the condition of the economy is beyond your control. Surviving economic downturns requires a focus on what you can control, i.e. your relevant business activities.
• Communicate, communicate, and communicate! Beware of the pitfall of trying to do too much on your own. It is a difficult task indeed to survive and to grow your business solely with your own efforts. Solicit ideas and seek the help of other people (your employees, suppliers, lenders, customers, and advisors). Communicate honestly and consistently. Effective two-way communication is the key.
• Negotiate, negotiate, and negotiate! The value of a strong negotiation skill set cannot be overstated. Negotiating better deals and contracts is an absolute must for realigning and resizing your company to the current economic conditions. The key to success is not only knowing how to develop a win-win approach in negotiations with all parties, but also keeping in mind the fact that you want a favorable outcome for yourself too.