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Building a Small Business That Warren Buffett Would Love by Adam Brownlee

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Epilogue

The Business Plan—Well, Yeah, There Is an Outline, but This Is Not War and Peace

If you perform a web search on the term “business plan outline” or peruse your local book warehouse, you will inevitably come across half a dozen varying outlines. My motto is: Find one that you are comfortable with and then get very comfortable with that outline. Whether you are dusting off the old business plan or starting from scratch, you need to familiarize yourself with a good outline. And remember, this is not War and Peace.

Here is the one I use:

Executive Summary

The Business

Vision and Mission

Strengths and Weaknesses

Legal Structure

Business Description

Product or Service Description

IP Property Description

Location

Management Personnel

Records

Insurance

Security

Litigation

Risk Factors

Major Forecasted Achievements—Milestones and Goals

The Marketing

Markets

Competition

Distribution and Sales

Marketing

Industry and Market Trends

Strategy

The Operational Plan

Organizational Structure

Management and Personnel

Legal Structure

Equipment and supplies

Accounting and Legal

Daily Operations and Processes

The Financials

Uses of Funds

Income Statement

Cash Flow Statement

Balance Sheet

Income Projections

Breakeven Analysis

The Supporting Documents

A Living, Breathing, Implementable Document

In a perfect world, your business plan would sprout arms and operate the cash register, but the truth is, it is probably dead in a drawer somewhere next to an old Kenny Rogers CD that you keep around for ...

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