Music Business

Components of a comprehensive business plan (1)

The Music Telegraph | Text 2019/02/27 [16:49]
Music Business

Components of a comprehensive business plan (1)

The Music Telegraph| 입력 : 2019/02/27 [16:49]

 

 



 

Components of a comprehensive business plan (1)

 

A comprehensive business plan should have eight basic sections (or nine sections if you are preparing the plan to seek financing). Those sections are: Executive Summary; The Company; The Product or The Service; The Market; The Marketing Strategy; The Operating Plan; The Management Team; The Financial Request (optional); The Financial Projections.

 

 

1. Executive Summary

- Begin with a summary of the business designed to catch the attention of the reader

- Brief description of the business: product/service; investment opportunity

- Logically it is best to do this section last

 

 

 

2. The Company

- Describe nature of your business

- Be specific about business structure: corporation, partnership or sole proprietorship, or franchise

- Legal status: profit or nonprofit

- Type of operation: manufacturing, retail or service

- Length of time in business

- Location of plant and office

- Short and long term business goals

 

 

 

3. The Product of Service

- Clear explanation of product/service: photos or diagrams

- Define the niche your product/service fills in the market place and identify what makes your product or service different or special

- If trademark or patent is warranted, explain what steps are being taken to secure protection

 

 

 

4. The Market

- Identify who will buy your product/service and why

- Provide historical, current and projected marketing data for product/service, market niche and industry

- Present information from independent sources to support your products’/service’s profit potential, and present any product/service-specific marketing research you may have conducted

- Include analysis of competitors, identifying their major strengths and weaknesses: show how your business will differ from theirs

 

 

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