Music Business

Writing a business plan

The Music Telegraph | Text 2019/01/23 [15:22]
Music Business

Writing a business plan

The Music Telegraph| 입력 : 2019/01/23 [15:22]

 

 

 

 

Writing a business plan

 

 

When you want to borrow money, the business plan is a vital sales tool that will impress prospective investors with your planning ability and general competence as a manager.

 

 

Here are the topics usually covered in business plans. Even if you are not using a business plan to find financing for your project, it will help identify your goals, outline the strengths and weaknesses of your project, and help determine when your project will make a profit. In short, a business plan is the map that shows how to get from an idea stage to project completion and profit.

 

 

1. Summary of your project, including the money you need to successfully launch the project and reach your market

 

 

2. Company description (history, background and management)

 

 

3. Description of your background

 

 

4. Description of industry you are operating in

 

 

5. Project description and planning schedule

 

 

6. Description of the market for your project

a) Market Size

b) Market Trends

c) Competition

 

 

7. Marketing plan

a) Estimated sales and market share

b) Strategy

c) Pricing

d) Sales and distribution

e) Publicity and advertising

 

 

8. Operations

(if the project is a “Product” i.e. a compact disc or new software, describe how product will be manufactured)

 

 

9. Project time line

 

 

10. Critical risks and problems

 

 

11. Financial information

a) Financing required

b) Current financial statements

c) Financial projection (three-year profit and loss, cash flow, and balance sheet projections)

 

 

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