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If not, the "Management" section is often placed just before the "Financial Projections" section."Marketing Model" contains a section titled "Target Market" in which you describe the demographics, psychographics and buying habits of your target market and why your product and service will appeal to it.
It's a big market out there, so how can you break it down for your business plan?
Learn the simple principles of segmenting your market and drilling down to a more precise view of your target audience.
Title your first section "Company Description" and include all the pertinent facts, such as your incorporation or other legal business status, licenses, trademarks and patents. In this section, describe your products and services, how you intend to make money and why the business is relevant.
A description of your management team can be added to this section, if you have an impressive team.
Here are seven good practices gleaned from a venture-capital boot camp.
Once academic exercises for eggheads, college business-plan contests now offer competitors the chance to win sizeable chunks of cash and launch a business.
More marketing-oriented than the basic plan, it's the tool you use to entice people to ask to see your full plan document.
Length can vary from one page for a dense abstract to the venture summary style of approximately 10 pages.
Though many successful companies have been started without the benefit of a formal business plan (see "Seat of the Pants," October 2002), it can be an essential factor in the birth and growth of your company.
A good business plan will help you obtain financing, arrange strategic alliances, attract key employees, and boost your confidence.