Summary of business plan


It is very likely that reading only the summary of the business plan will be sufficient for the funders to be able to decide on their participation in financing the project. It should contain a concise presentation of key points of business. Summary of the business plan is simply a description of the goal you want to achive and intend to pursue. It should contain information on your partners who work on the project with you, their experience and interests. In the summary of business plan, describe the area of your business. Introduce financial needs and their structure, the potential gains and risks which are associated with the implementation of the project. Keep in mind that the chances for more interest from funders grow when profits in your organization will come out quickly and when the grant giver will have to invest less capital in your project. It is crucial to describe the situation in a market where you intend to operate. You have to characterize the main competing organizations and companies working in the industry you are about to join. You should provide information on the competitors - who they are, how long they operate, what they do, what are their products and services and what distinguishes them from yours. Present competition‘s strengths and weaknesses, how many beneficiaries they have and what are their plans for the near future. Describe characteristics of an advantage over competing organizations, explain in what you think you are the best and what according to you is better in comparison to the competitors. It is worth describing how you plan on getting ahead of competitors and market and introduce innovative product or service. Make your position against the competition interesting and convincing. Presentation of the uniqueness and specificity of your organization can be the decisive factor of your success. Important element of business plan is trying to anticipate situation in the future - introduce it. What are the prospects for your company in the market, at what stage of development will it be in 3 years. Will it still exist? In the summary include description of your beneficiaries. Who are your customers? What are their preferences? After the division of beneficiaries into age group, think about which groups need your services most. Think about how to reach those customers. you should know everything about your beneficiaries . You may find helpful social studies or surveys conducted among potential recipients. Results of these studies introduce in your business plan. Community engagement is extremely useful and has a large influence on the decisions of funders. It is in fact non-financial support, which can help achieving a success.