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Write a Business Plan
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Step 7:
Explain how your business will run
Your development plan explains how your business will run. Think of it as a series of deadlines. Begin by explaining the parts of your business that are already in place (the management team, a product template, etc.). Then provide a timeline for future goals (when hiring will be complete, when your product will reach the market, when the first radio ads air, and so on), and briefly outline the steps you'll take to reach these goals. Keep these things in mind:
Show you're aware of potential obstacles.
Mention input from outside contractors.
Prove you can protect proprietary information during the development process.
Maybe you know how to make a single widget, but can you make a million? Investors want to know whether or not production can meet consumer demand. Anticipate their concerns by including a manufacturing/operations plan that answers the following questions:
Where will you get raw materials (if applicable)?
How will your product (or service) be generated?
How will you ensure consistent quality?
What is the maximum capacity of your operation?
Are there any regulatory or other legal issues you need to address?
How long will it take to produce the first product (lead time)?
Will any part of the production process be outsourced?
Where will the product or service be generated? How will this affect distribution and other costs?
Will warehousing be necessary?
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