Music Business

8 Components of A Comprehensive Business Plan

The Music Telegraph | Text 2019/01/02 [13:31]
Music Business

8 Components of A Comprehensive Business Plan

The Music Telegraph| 입력 : 2019/01/02 [13:31]

▲ © Make It In Music

 

 

 

Business Plan

 

 

8 Components of A Comprehensive Business Plan

 

1. Executive Summary

Give an idea of your business, brief destination of the business, product or service, investment opportunity.

 

 

 

2. The company

Describe the nature of your business.

 

*be specific about: 

- Business structure

- Partnership or franchise or corporation

- Legal status (profit/non-profit)

- Type of operation

- Manufacturing

- Retail or service

- Length of time in the business

- Location of plant or office

- Short & long term business goals

 

 

 

3. Product or Service

Clear explanation of product or service with photos or diagrams. Identify what makes your product or service different or special. If the trademark or patent is warranted, explain what steps are taken for protection of product.

 

 

 

4. The market

Identify who will buy your product and why. Provide current and projected market data for product or service. Present information from independent sources to support your product or sources profit, potential, and analysis of your competitors. Identify their strengths and weakness. Show how your business will differ from theirs.

 

 

 

5. Marketing strategy

How you intend to reach target or customers by product, service, plan, pricing, promotion, distribution, packing, and placement.

 

 

 

6. Management team

Identify the profession is on your team to take you to the next level. What key personal responsibilities are resumes and bio’s of your staff and advisory team. Prepare organization chart.

 

 

 

7. Financial request

What you want, why, or what teams, profit potential, return on investment, spell out loan repayment plan ($).

 

 

 

8. Financial projections

Make sure projections. Support written information in your description. (e.g. 5-year projection)

 

▲ a 5-year financial projection

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