A 90-day business plan has the same basic goal of all business plans -- to convey the economic viability of your business idea. But the shorter term perspective calls for some unique components.
Explain the short-term nature of your 90-day business plan. For example, your business concept is based on a seasonal opportunity that your company can capitalise on but will need to hire extra temporary workers to execute the plan and capture the profits for this particular time frame.
Outline your short-term business plan and concept. This includes a description of the business with marketing, finance and management subsections. For example, if you are testing the validity of a new business idea over the next 90 days, after stating the business description, lay out how you will market your idea. Create 90-day financial projections and summarise how your management team will function together to execute the plan.
Present your market analysis demonstrating the profitable opportunity your business idea offers. Clearly show that you have a deep understanding of your market and how it presents growth opportunities. Identify your key competitors and how you plan to differentiate your business.
Create the financial projections that includes revenues, expenses as well as a detailed cash-flow statement that your new business venture will generate.
Demonstrate that you and your management team have the capability to successfully execute your 90-day business plan and produce profits. Provide in detail the relevant professional experience, skill and education for you and your management team.
Package your 90-day business plan into a compelling form to sell your business concept. This includes adding a cover sheet, statement of purpose and table of contents. The most important characteristic, however, is its actual content. It is imperative for a short-term 90-day business plan, whether it is for a start-up or testing the market with a new business idea, to stress the short term nature throughout the document. Make sure the business plan never loses sight of the 90-day time frame and is the major theme in the marketing, financial and management subsections.
Test your new business concept first. Have your business plan reviewed by your management team.
Tips and warnings
- Test your new business concept first.
- Have your business plan reviewed by your management team.