Q:

How does someone write a 5-year business plan?

A:

In order to write a successful 5-year business plan, designing a good tactical plan with an executive summary and good products is necessary. It is also always a good idea to include the management team and the projected financial analysis for each year.

A business plan includes many factors, especially if projected to cover the next 5 years. A 5-year plan is the most common to present to possible investors.

  1. Design the plan
  2. What is the vision of the company? Outline the goals to be met and the strategies to be taken to reach those goals. What type of marketing and advertising will be used? The company mission and values must be included here.

  3. Executive summary
  4. This portion must be written to include achievements and relevant experience of the ones in charge of the business. This section is to let investors know they are placing their money with experts in their fields, and should include strategies and objectives.

  5. Talent
  6. Advertise what is so great about your management team. This is the "resume" to show off skills and knowledge for everyone involved.

  7. Product
  8. Be sure that the product(s) in the business plan are something that is wanted and can be shown to have a steady demand or increase over the next 5 years.

  9. Financials
  10. Having the projected financial statements like balance sheets, income statements and cash flow estimates is very important.

Learn More

Related Questions

  • Q:

    What is deferred compensation?

    A:

    Deferred compensation, or the deferring of taxes on income until it’s withdrawn, can refer to pensions, stock options and retirement plans. Qualifying plans that allow for deferral of taxes must comply with the Employee Retirement Income Security Act of 1974. Other types of deferred compensation are typically taxed when earned.

    Full Answer >
    Filed Under:
  • Q:

    How do you change the executors of a will?

    A:

    The executor of a will is changed through a codicil, which is an amendment to a will, according to A.L. Kennedy for LegalZoom. The codicil is written on a separate sheet of paper with the exact wording used in the original will to name the executor, except it has the new executor's name.

    Full Answer >
    Filed Under:
  • Q:

    What is a 403(b) plan?

    A:

    Under the Internal Revenue Code, a 403(b) plan is a retirement plan that can be offered to employees of public schools, employees of certain 501(c)(3) tax-exempt organizations and eligible church ministers. This type of retirement savings plan allows participants to make pre-tax contributions, and earnings on the contributions are not taxed until they are distributed from the plan.

    Full Answer >
    Filed Under:
  • Q:

    What is a personal representative deed?

    A:

    A personal representative's deed is a deed signed by an individual who is looking after the sale of real estate on behalf of another party. The personal representative may be the executor of the estate of a deceased person or the administrator of the affairs of someone who is incapacitated.

    Full Answer >
    Filed Under:

Explore