Business Planning Strategy

The product description statement should be complete enough to give the reader a clear idea of your intentions.

Show how you will expand your business or be able to create something by using that money. A potential lender is going to want to know how successful you're going to be in this particular business.

Factors that support your claims for success can be mentioned briefly; they will be detailed later.

Also state whether the business is new or already established.

In addition to structure, legal form should be reiterated once again.

Give the reader an idea of the experience of the other key people in the business.

They'll want to know what suppliers or experts you've spoken to about your business and their response to your idea.

Detail whether the business is a sole proprietorship, partnership or corporation, who its principals are, and what they will bring to the business.

You should also mention who you will sell to, how the product will be distributed, and the business's support systems.

Just explain the factors you think will make it successful, like the following: it's a well-organized business, it will have state-of-the-art equipment, its location is exceptional, the market is ready for it, and it's a dynamite product at a fair price.

If you're using your business plan as a document for financial purposes, explain why the added equity or debt money is going to make your business more profitable.