Music Business

Components of a comprehensive business plan (2)

The Music Telegraph | Text 2019/03/05 [13:04]
Music Business

Components of a comprehensive business plan (2)

The Music Telegraph| 입력 : 2019/03/05 [13:04]

 



 

Components of a comprehensive business plan (2)

 

 

5. The Marketing Strategy

- Explain how you intend to reach your target customer(s)

- Give comprehensive description of your marketing mix: product/service plan; pricing plan; promotion plan; distribution plan

- How will you package and position your product in the marketplace

 

 

 

6. The Operating Plan

- If a manufacturing business: How will you deliver your goods within specific time frames. Describe your manufacturing process, potential production volume and sources of labor and materials

- If a service business, a similar detailed description is needed

- Operating hours etc

 

 

 

7. The Management Team

- Identify the professionals you have gathered to launch your venture or to take you to the next level of success

- Identify key personnel and carefully outline their responsibilities; provide resumes or biographies for each officer of the company

- Identify your advisory team, if applicable

- If staff will be larger than four persons, prepare organizational chart

 

 

 

8. The Financial Request (Applies when seeking financing)

- What you want, on what terms, profit potential of business, proposed potential of business, proposed return on investment

- Indicate that you are seeking a loan and reasons why: capital investment, working capital, etc. Spell out loan repayment plan. Include Sources and Uses of funds outline

- Include one paragraph summary

 

 

 

9. The Financial Projections

- Make sure projections support written information in your narrative description (example: If you described a nationwide advertising campaign, an annual projection of $5,000 for advertising and promotion does not quite fit the Bill)

- Include at least three years’ projections of Profit and Loss Statements and Cash Flow Statements. The first year is usually projected over a twelve month period, while year 2 and 3 can be quarterly

- Provide Balance Sheet information at least before operation

- Break even analysis is also helpful

- Statement of assumptions to financial projections outlining how the figures were derived

 

 

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