1. Components of The Plan A Step by Step Approach to Writing a Business Plan

2. The Executive Summary Should be a concise (Lots of information with few words, short and sweet) overview of the business plan While short, it needs to be well written so readers are hooked into reading it. Good to write rough draft first then after the whole plan is completed Revise and update or even re-write to match plan Should include Name of Business and Location Products and Services offered Company’s Mission Statement The Purpose of the Plan Usually to secure financing Set Strategies Establish goals and timelines

3. Assignment: complete rough draft of Executive Summary Complete rough draft of Executive Summary Should be a concise (Lots of information with few words, short and sweet) overview of the business plan While short, it needs to be well written so readers are hooked into reading it. Should include Name of Business and Location Products and Services offered Company’s Mission Statement The Purpose of the Plan Usually to secure financing Set Strategies Establish goals and timelines Will be edited, revised, or re-written at the end of the planning process.

4. Mission Statement Defines your purpose as a business. Why are you in business? The statement everyone can point to in the business. Should be 1-2 sentences long. Usually includes what you do. Examples: Advanced Auto Parts: It is the Mission of Advance Auto Parts to provide personal vehicle owners and enthusiasts with the vehicle related products and knowledge that fulfill their wants and needs at the right price. Our friendly, knowledgeable and professional staff will help inspire, educate and problem-solve for our customers. CVS Pharmacy We will be the easiest pharmacy retailer for customers to use.

5. Write a Mission Statement Now Take time to write a mission statement for your business and add it to your business plan after product/service offered

6. How to Set Goals Think SMART Specific Measureable Attainable Relevant Time-Specific

7. Specific When setting a goal it should be specific It should not be vague Example: I want to run in a 5k race instead of I want to be able to run far. The 5k is specific

8. Measurable Your goal should be able to be measured. Example: I want to run in a 5k in 28 minutes. The 5K is a specific distance in that can be measured and the time interval is a measure too.

9. Attainable Is it reasonable to attain your goal? Example: I want to run a 5k in 28 minutes this weekend. Well, have you been running lately? Are you in the shape to do this? Do you need to spend time training?

10. Relevant Is the goal relevant to you? Is it meaningful? Without meaning we won’t have passion for pursing the goal. In our running example, is it important that you can run or be in shape?

11. Time Specific You must give yourself deadlines Without them goals will just become unfulfilled dreams. Example: I want to run a 5K in 28 minutes or less by the end of March 2014. Now we have a target. Now we can train and take the steps to achievement

12. Set your own goals Now take a moment to write down 5 goals for your Business use the SMART principles There should be 3 short –term (less than a year) and 2 long-term (longer than 1 year) Add them to your Business Plan under the Executive Summary