Starting your business
Starting a business is a major endeavor
and like any serious commitment, it
requires planning. Is your concept viable?
Will you need employees? Will you need
local or state approvals and licensing?
A business plan will help you answer
these questions and the challenges you
are yet to face, long before you invest
precious time and money.
What is a business plan?
Think of your business plan as a guide as your start your journey as a business owner. The plan
maps out each step in the process giving you a checklist that ensures you are taking each of
the steps you need to be successful in the short and long-term.
Business Questions? We Have Answers!
Call Our Business Helpline 1-800-Jersey-7
Located within the New Jersey Department of State, the New Jersey Business Action Center is a business-first
resource that can help you get answers from government agencies, direct you to appropriate officials or
contacts, facilitate meetings and follow-ups with regulatory agencies and so much more, all at no cost and
strictly confidential. Business support is one call away and we offer guidance in both English and Spanish.
“We are from State Government and we’re here to help all businesses grow!”
“HOW TO…” FAQ
Keeping your business afloat
Many new business owners underestimate
the amount of funds required to start and
nurture a business. How will you finance
your business? Will you self- fund, seek
money from friends & family, or approach
conventional lenders for financing?
What about non-conventional lenders? Do
you know who they are and how to contact
them?
Resources are here
Our team at the New Jersey Business
Action Center (NJBAC) is available to
answer questions to help you formulate
your business plan. They can provide
outlines and samples to help you make
the right business choices and guide you
on how to make the best first impression
to achieve your goals.
Pieces of the puzzle
When writing your business plan you may
come across unfamiliar terms. Think of
them as interlocking pieces of a puzzle.
Together, these pieces help define your
vision and build confidence in others about
you and your business’ ability to succeed.
On the reverse side we have defined the
most frequently used terms.
Create a Business Plan
Melanie Willoughby, Executive Director
New Jersey Business Action Center
P.O. Box 820, Trenton, NJ 08625
609-633-8301 (O) | [email protected]
Visit us at nj.gov/state/bac/ or call 800-Jersey-7
The pieces of the puzzle - definitions
Executive summary – a one or two-page summary of the business plan includes information
about the business including the products or services it offers, the market it seeks to fill, and
why you want to be in business
Business description – business name, address, owner, goals, objectives, reasons to be in
business
Market analysis – describes total market, industry trends, target market, customer base,
competitors, products, brand names, unique features, competitive advantages and
disadvantages
Operating requirements – equipment, facilities, people needed to operate, means of
production, logistics
Marketing strategy – target customer, attributes to promote, advertising methods, pricing,
sales, distribution, service
Funding application – financial needs, dollar amount requested, terms and timing, type of
securities, earnings projections, exit strategy
Overcoming Difficulties – risks, potential problems, solutions
Business Management Structure – legal form of the business, board of directors, staffing,
employee numbers, facilities plan, operating plan for one to two years
Financial information – profitability, start-up costs, expected return on investment or profit,
financial history, financial statements, projections
Appendix – relevant documents, permits, credit history, product images
Business Questions? We Have Answers!
Call Our Business Helpline 1-800-Jersey-7
