In fact, your Business Plan will be an essential tool throughout the life of your business — from starting out to cashing in.
While business plans differ in length and detail, the kind of industry dictates the style and dimension of the business plan. A staffing agency, for example, includes more recruiting strategies in a complete business plan than a single owner-operator business such as a financial planner.
Individual variances can easily be inserted if you start out with a sample financial planner business plan. Objective The mission statement of the financial planning business should be concise and focused, while demonstrating the vision of the financial expert.
Include in the opening documentation a written summary of the services you will provide, the types of clients you will serve and a brief description of the products you will carry.
Use action words in the objective such as "create," "provide," "build," "serve" and "grow. In the business plan, include all products you will handle such as stock trades, mutual funds, annuities, life insurance and real estate investments.
Write down the extent of the services you will provide and your credentials to do so. For example, if you have a Series 7 license, will you be trading stocks?
Do you have a license to sell insurance products? If you will be working strictly as a consultant, which broker and dealer will you be using?
Video of the Day Brought to you by Techwalla Brought to you by Techwalla Market Following extensive research into the needs of the community, the availability of products and the extent of the competition, narrow down your target market.
Niche financial planners who specialize in small-business owners, baby boomers or singles can narrow the marketing strategies and portfolio offerings easier than a generalist who services anybody. Clarify your ideal clients in this section of the business plan.
Strategy In this area, you should define your strategies for attracting new business. List the advertising you plan to employ and its concurrent costs.
Mailing lists, website designers, press-release writers and marketing consultants should be listed here. Clearly map out your plan and what results you hope to achieve. Consider planning seminars to gain clients, network with consumer groups or write expert articles for financial publications.
Finances Write your own financial plan. Include all upfront expenses that you know you'll incur based on the previous sections of your business plan. Don't forget to include a salary for yourself as well as office start-up costs, advertising and marketing budgets, license fees, industry association dues and every expense related to your business.
Estimate your projected income based on the number of clients you will attract. From this you can get a clear view of your first-year budget. Compare actual figures to these projections at the end of your first year.Article How to Create a Winning Restaurant Business Plan Joe Erickson.
Hard work, great food, and the will to succeed are not enough. You need proper training, established operational procedures, and a creative marketing plan, before you open. The title, or heading, of the plan, and very brief description of the business. The date; The name of the owner; The company name and location; A copyright or confidentiality notice; Table of Contents.
A list of the individual sections and their page numbers, starting with the Title Page and ending with a section for Special Materials (references, etc.). The Business Plan has been completed with the assistance of a Business Coach from the local Enterprise Development Agency, and is designed to support my idea and allow me a realistic overview of the viability of the proposal.
This tutorial explains how to write the conclusion for a business document, for example, a report, thesis, project, or any document that needs a section to gather together the main points. Business Plan Section 7: Financial Information This section of your business plan is crucial if you’re presenting your plan to potential lenders or investors, but it’s also important if you’re using it in-house as a roadmap to get started and continue to grow.
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