The first section of a business plan is called the executive summary. The executive includes: the mission statement, company information, growth highlights, product(s) and/or service(s), financial information, and summarizes future plans. The SBA has a few ideas for established companies and startup or new businesses. For startups and new businesses, the SBA tells proprietors to “focus on [their] experience and background as well as the decisions that led [them] to begin this particular enterprise. (Executive Summary).” This section explains where the company is physically located, where the owners plan to take the company, and why they think their business will be successful. The executive summary is important to the overall business plan because is it the first section and the most important in terms of investors. Prospective...
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...Marketing and Sales).” The SBA suggests that small business owners make an overall marketing strategy that should include four different ideas: market penetration (starting up), growth, channels of distribution, and communication. Then, the overall sales strategy should include two primary elements: a sales force strategy and sales activities. This is important to the over business plan because consumers need to know that the business exists and is still open to sales. Without profit, there is no business.
The executive summary, company description, service and product line, and marketing and sales are only four of the six section of a business plan. All six sections create a road map for success that can be followed, changed, and added to as a business’ needs to change. If followed, the business may be successful in starting and making a profit for years to come.
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