Determine if you will need Outside funding

Most new businesses will not look for (or qualify) for outside funding from the start. But, if your business will need funding and does qualify for that funding, you will need a more formal business plan. Investors, funding institutions, and banks will ask for a formal business plan. Sometimes, they will accept a one-pager (a one-page business plan). But, usually, they want a formal business plan with detailed financials. 

These are the sections of a formal business plan:

  • An executive summary

  • A company overview

  • Outline your company structure

  • Provide information on your management team and key employees 

  • Describe your operating procedures

  • List your products and services, the problems they will solve and/or needs they fulfill

  • Detail your market analysis (from the step before) to explain your target audience and their characteristics

  • Create a marketing and sales plan

  • Identify your competition

  • State your business goals and milestones and the metrics you will use to measure success

  • Create your financial plan

  • Provide an appendix

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Develop Your Brand

What is your message? How will you communicate it? What will it look like?


Validate Your Idea With Market Research