Step 1: Prepare A Business Plan | Campbell County, VA Economic Development

Step 1: Prepare Business Plan section of main flowchart

Taking the time to think through a business plan is essential for any entrepreneur. Decisions about products and services to be offered, pricing, competition, marketing, organizational structure, and funding all flow into a well-developed business plan and serve to guide you along the process of starting your business. You’ll use your business plan as a roadmap for how to structure, run, and grow your new business.

Choose a format for your business plan that works best for you.

A one-page lean start up plan may be enough if you want to explain or start your business quickly, if your business is relatively simple, or if you plan to regularly change and refine your business plan. If you will be seeking outside funding from traditional funding sources, they may request a more comprehensive business plan.

Comprehensive business plans include the following elements:

Executive Summary
Company Description
Market Analysis
Organization/Legal Structure and Key Members of Your Team
Products/Services to be Offered
Marketing and Sales Strategy
Funding Requirements
Financial Projections

Additional Resources:

The Center for Entrepreneurship is the centralized hub supporting entrepreneurship in the Lynchburg region. With space to support creativity and collaboration, assistance for funding and planning, opportunities for business development, training and mentoring programs, and a diverse array of support services to make starting a business easier, The Center for Entrepreneurship is where local startups go to succeed.

The Small Business Development Center (SBDC)-Lynchburg Region offers free one-on-one counseling, on-line and in-person workshops, and on-line interactive resources that can help you develop a business plan, assist with market research, and provide locally-informed guidance in starting your business in Campbell County.

The US Small Business Administration (SBA)offers a step-by-step interactive guide to Starting a New Business.

Blue logo reads "SCORE for the life of your business" SCORE Western Virginia Chapter provides free, confidential mentoring, educational workshops and online resources to help start or grow your small business.