Writing a business plan can be a daunting task, especially when starting a new business venture. It requires a lot of research and knowledge of the industry in order to create an effective plan. Thankfully, there are many resources available to help guide individuals in creating an effective business plan. This blog post will provide an introduction to an example of a business plan, allowing readers to gain insight on how to start their own business plan. It will include a summary of the key sections of a business plan, an overview of the information that should be included in each section, as well as tips and resources to help readers in the development of their own business plan. With this information, readers will be able to create their own business plan effectively and efficiently. This blog post will be a great resource for entrepreneurs looking to start their own business.
Why do you need a business plan introduction?
You require an introduction for your business plan to highlight your main points and draw in potential investors. Business plans detail a company’s objectives and how to reach them in great detail. The purpose of the document, the most fundamental facts, and the primary goals are all briefly explained in the introduction because these documents are frequently very detailed. Readers can therefore understand the business’s overall goal without having to read the entire plan.
Creating excitement and interest is a business plan’s secondary goal. A business plan introduction performs best when it stands out and enthralls its reader because investors frequently hear pitches for new business ideas. Investors are more likely to be inspired to learn more and even invest in the new company when they are interested in the proposal after reading the introduction.
What is a business plan introduction?
The first section of your business plan is an introduction. There is no set length requirement, but it is typically two to three pages long. It could also be as brief as one paragraph. The business plan introduction provides a general overview of the document, as well as a synopsis of the company’s mission, goals, and objectives. Additionally, business plans usually answer the following questions:
You don’t have to go into detail because this is just the introduction, but it’s still a good idea to at least answer each question. A business plan’s introduction should pique the reader’s interest and provide a summary. By providing a summary of your main points, this aids the reader in understanding what to anticipate from the body of your business plan.
Business plan introduction template
Here is a sample introduction to a business plan that will assist you in formatting it:
Write a three- to four-sentence description of the company that gives a general overview. Include information like your company name, a succinct description of your goods or services, information about your target market, your main business objectives, and any deadlines for achieving your first objectives. ].
Objectives [Your primary objectives are outlined in one or two paragraphs in this section. In your business plan’s body, you can go into more detail about these goals. This section serves as your introduction and includes the primary metrics your company intends to concentrate on, your overall targets or goals, and the deadlines by which you intend to achieve these targets. ].
Competitive analysis [Describe your competitive analysis in this section in brief terms. Indicate in one to two paragraphs who your main rivals are, what makes them competitive with your company, and what industry trends you believe could have an impact on them or your company. ].
Reason to believe [End the introduction with a paragraph or two that persuades the reader to believe in your company. This section explains what makes your company unique from its rivals and draws readers in by making a strong argument for why your company is relevant to its target market and how it intends to be profitable. ].
Business plan introduction example
This sample business plan introduction will assist you in creating your own:
Rajn is a brand-new shoe reselling e-commerce platform created for shoe collectors and enthusiasts. Rajn wants to sell both new and used shoes via an online store and an app. This strategy aims to define Rajn’s financial objectives, strengthen consumer perception of the Rajn brand, and generate interest in a novel kind of shoe sales platform. This plan encompasses Rajns goals through December 2021.
Goals Rajn’s plan has 50 distinct shoe brands as its first target for exclusive partnerships. In order to make brand loyal customers use the Rajn app and store to buy the shoe they want, a sense of exclusivity is created. The second goal is to build an initial audience of 10,000 consumers throughout the United States. As we learn more about their needs and wants, we will tailor the Rajn brand to better serve these customers by emailing them about new product releases.
Through the website, sneaker forums, social media pages, and college campuses, we intend to draw in and interact with potential customers. By the end of December 2021, we hope to have achieved our two goals.
Competitive analysis As well-known athletes and artists create their own shoes with major label brands, the sneaker market is currently expanding. When sneakers go on sale, they sell out in a matter of minutes before being resold for ten times their original price. A sneaker reselling e-commerce platform should launch now.
Other shoe reselling websites like Juno and Shiva, as well as independent online resellers, are among our main rivals. Rajn aims to gain a competitive edge by providing round-the-clock customer service as well as a cutting-edge, stylish mobile app with integrated social and “glamification” features that allows users to customize their orders. No other rivals bring together distinctive partnerships, a powerful e-commerce app, and outstanding customer service in one location.
Reason to think Rajn, through our board of directors, combines decades of experience in the footwear, technology, and e-commerce industries. The group has received numerous accolades for its innovations in its corresponding industries. They now intend to apply that same level of knowledge to Rajn. We think that our shared love of shoes will inspire us to create a special platform for selling shoes that will appeal to both the casual market and shoe collectors. The popularity of iconic shoe silhouettes, the expansion of the sneaker community, and technological advancements in e-commerce make us believe that this is the ideal time to introduce the Rajn platform.
For each transaction accomplished through the Rajn app, we will seek out a 10% service fee We anticipate that each customer will engage in 10 transactions, with an average sale price of $500. In the first year, we expect to generate $500,000, and by the second year, we expect to have tripled that amount. Since the majority of our business is conducted online, we can reduce our overhead and rent costs. We are eager to investigate additional revenue streams, such as in-app advertisements, premium membership plans, and exclusive shoe partnerships.
Basic Business Plan Example by Paul Borosky, MBA.
FAQ
How do you write an introduction to a business plan?
[Compose a three- to four-sentence summary that gives a general overview of the business. Include information like your company name, a succinct description of your goods or services, information about your target market, your main business objectives, and any deadlines for achieving your first objectives. ].
How do you write a good business plan example?
- Executive summary. An introductory overview of your business.
- Company description. A more thorough and detailed explanation of your company and its goals
- Market analysis. …
- Products and services. …
- Marketing plan. …
- Logistics and operations plan. …
- Financial plan.
