{"id":186,"date":"2021-05-20T10:48:03","date_gmt":"2021-05-20T14:48:03","guid":{"rendered":"https:\/\/www.equireinc.com\/blog\/?p=186"},"modified":"2021-05-20T11:35:55","modified_gmt":"2021-05-20T15:35:55","slug":"6-core-elements-of-a-business-plan","status":"publish","type":"post","link":"https:\/\/www.equireinc.com\/blog\/finance\/6-core-elements-of-a-business-plan\/","title":{"rendered":"6 Core Elements of a Business Plan"},"content":{"rendered":"\n<p>Having a solid business plan is vital if you are seeking funding for your business. Let Equire guide you through the core elements of building a credible <a href=\"https:\/\/en.wikipedia.org\/wiki\/Business_plan\">business plan<\/a>.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">6 CORE ELEMENTS OF A SOLID BUSINESS PLAN<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">Executive Summary&nbsp;<\/h3>\n\n\n\n<p>Describe your business and what you are doing. A good executive summary will include the market problem and your intended solution.<br>NOTE: First impressions count!&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Industry &amp; Competition&nbsp;<\/h3>\n\n\n\n<p>Define your niche. Know your industry and on what terms it operates, like pricing and demand. Identify your competition and how you distinguish from them.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Execution<\/h3>\n\n\n\n<p>How will you sell your product or service? Which methods will you utilize to market your product or service that will bring the best return on your investment?&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Organization&nbsp;<\/h3>\n\n\n\n<p>Determine the responsibilities for each member in your team. If you are just starting out, tell your story of what brought you to this point.&nbsp;<br>NOTE: Lenders are interested in the people behind the business as much as in the business itself.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Financial Status<\/h3>\n\n\n\n<p>Sum up the profits and loss of your business until now, and create a projection of funds you need to continue operating. Include all the financial details of your company.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Appendix&nbsp;<\/h3>\n\n\n\n<p>Collect reference documents, legal agreements, statements, charts, collateral and other resources that support your business plan.&nbsp;<\/p>\n\n\n\n<p>A solid business plan is essential when trying to acquire funding for your business. Equire Inc will guide you through the process of securing the best loan option for your business.<\/p>\n\n\n\n<p>Have you written a solid business plan for starting a new business? Let EquireInc. help you and guide you through the 6 core elements of building a solid business plan.<\/p>\n\n\n\n<p>Do you know what <a href=\"https:\/\/www.equireinc.com\/blog\/business-loans\/i-want-to-open-a-new-business-can-i-get-financing-to-buy-the-equipment\/\">equipment financing<\/a> is?  <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Having a solid business plan is vital if you are seeking funding for your business. Let Equire guide you through the core elements of building a credible business plan. <\/p>\n","protected":false},"author":2,"featured_media":207,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-186","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>6 Core Elements of a Business Plan - Equire Inc.<\/title>\n<meta name=\"description\" content=\"Let Equire guide you through the core elements of building a credible business plan. 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