Social Media Marketing Plan :  name of Business: Aspen Social Media & Marketing

Developing a Business Plan

There is no successful business without a plan or strategy, whether a small, medium or large size organization. A business plan is important because it summarizes the entrepreneur's vision for the start-up business. No one is in a better position than you to write your business plan, to articulate the vision, mission, and strategy of your start-up. Regardless of the business size, entrepreneurs need a business plan to guide the achievement of the goals of the start-up. Although there is no hard-and-fast format for a business plan, your business plan must include the following components:

• Executive summary

• Objectives

• Mission

• Keys to success

• Company summary

• Company ownership/management

• Company location and facility

• Product or service description

• Competitive comparison

• Use of technology

• Future services or products

• Market analysis summary

• Industry analysis

• Marketing strategy: pricing, promotion (social media/mobile technology), distribution

• Service or product support

• Sales strategy

• Financial Plan: projected profit and loss statement, balance sheet, cash flows, business ratios and benchmarks

• References Page

Select a start-up business. Use the list of components above to structure a business plan to be delivered to a group of bankers or investors. Describe your start-up using the content above, and address each point.

The business plan is the single most significant factor in determining whether investors or bankers will be interested in your business. Be creative. Incorporate course material into your plan. Use tables, charts or graphs to help illustrate your points. Feel free to ask your instructor for clarification on any of the requirements of this Portfolio Project.