Entrepreneurship, Second Edition

7.3. The Business Plan

Although it's the business planning process that's important, it is easier to discuss that process by laying out what the final output, the business plan, might look like. We will progress through the sections in the order that they typically appear, but keep in mind that you can work on the sections in any order that you wish. Business planning is an iterative process. Also, you may find it useful to refer to the P'kolino business plan at the end of this chapter as you read each of the following sections. You'll notice areas where the P'kolino plan follows our suggestions and areas where it doesn't. The most important point is that you evaluate the P'kolino plan's strengths and weaknesses on the basis of how well it articulates the P'kolino story.

7.3.1. The Cover

The cover of the plan should include the following information: company name, tagline, contact person, address, phone, fax, e-mail, date, disclaimer, and copy number. Most of the information is self-explanatory, but a few things should be pointed out. First, the contact person for a new venture should be the president or some other founding team member. Imagine the frustration of an excited potential investor who can't find out how to contact the entrepreneur to gain more information. More often than not, that plan will end up in the reject pile.

Second, business plans should have a disclaimer along these lines:

This business plan has been submitted on a confidential basis solely to selected, ...