conclusion and recommendation business plan

Business Plan Conclusion: Summary & Recap

You’ve written your business plan, but now you want to wrap it up to make a lasting impact on your reader. In this article, we will define the conclusion to a business plan as well as provide some tips to help you attract and seal the deal with potential investors and lenders.

What is a Business Plan Conclusion?

This business plan conclusion is a concise summary and recap of all of the components of a business plan , but especially the executive summary. It summarizes your business plan in 2-3 paragraphs, with an emphasis on the most important points.

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Is the Business Conclusion Necessary?

It’s good practice for business plans, but not always necessary to be successful in obtaining funding.

If you have a stellar executive summary, it may be unnecessary.

If the business conclusion is written well enough, it can serve as an executive summary of sorts – a short recap that provides more detail than the business plan as a whole, but only includes the most important points. It could also serve as an executive summary that is more concise than an actual executive summary.

How To Write a Conclusion for Your Business Plan

The conclusion of your business plan is the last thing people read before deciding to invest in you and your business, so it needs to make a lasting impression.

Determine Location

Depending on your intended audience, there are two common places for the conclusion. If your plan is meant for internal purposes, you may have the conclusion at the end of the entire document. However, if you are seeking funds from investors, you want to place the conclusion at the end of the Executive Summary, increasing the chances that it is actually read.

Review & Concisely Recap

conclusion reviews key points from the executive summary

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Startups might include the following information:.

Funding requirements
Service or benefit to the investor
Target market and audience
How products or services solve the target market’s problem
Marketing strategy
Competitive advantage
Management team experience
Financial projections
Launch plan

Established businesses might include information in their conclusions such as:

Mission statement
Company’s history
Products and/or services
Historical growth data
Financial summary
Company’s goals

Summarize the 3-5 points in a couple of paragraphs. You don’t need to summarize everything that happened in your business plan, just the most important points of the business plan.

Support Your Claims with Stats and/or Visuals

Establish a Call-To-Action (CTA)

Proofread & Spell-Check

The conclusion needs to give your readers a sense of closure by wrapping up all loose ends while making your last pitch effort to obtain the money your business may need.

Business Plan Conclusion Example

Use this conclusion example to help you with how to end a business plan, but keep in mind to make it relevant to your target audience, industry, and funding requirements:

Expanding into the Seattle metro area will allow Skyridge to provide its cutting-edge technology to more people who need it. Purchasing the fabrication plant in Seattle allows us to produce all of our products in-house and in one location, delivering them promptly and efficiently to the northwestern region.

We have the power to change the way people use technology, and we want [Investor’s Name] to be a part of it. By investing in Skyridge’s growth, [Investor’s Name] will benefit in the following ways:

Inclusion with a startup that has seen XXX% growth over the past X years and our company’s management team with XX years of experience in the technology industry
Contribution to Seattle’s economic growth and its citizens’ access to technology that enhances their lives
Participation in company planning meetings and receive an XX% share in all profits earned

We can add to the number of lives Skyridge’s technologies impact, generate more job opportunities in the region, and alter the technology sector if we work together. If you agree with our vision for a better future for everyone, join us.

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How to Write a Business Plan Conclusion?

Business Plan Template

Vinay Kevadia
June 20, 2024

Completed writing your business plan?

Let’s wrap it up with a conclusion that ends your business plan on an exciting and positive note. Not to forget—a conclusion that convinces the readers about your business’s potential to succeed.

In this blog post, you will learn exactly how to write a conclusion of a business plan and get an example to guide you.

Let’s get started.

What is a business plan conclusion?

A business plan conclusion is the final section concluding very concisely the points discussed in your business plan.

It reinforces the business’s strengths and feasibility and reassures the readers of potential business success. It clarifies the reader’s benefit of associating with your business and convinces them of a profitable investment opportunity.

A conclusion is about 3-4 paragraphs long and is designed to drive action and leave a lasting impression on reader’s minds.

Business plan conclusion vs. executive summary

Many people confuse a conclusion and an executive summary to be the same. However, they are not. Let’s see how.

An executive summary is a broad overview of your entire business plan. The conclusion, on the other hand, is a concise summary reinforcing the key takeaways of your plan.
While an executive summary introduces the readers to your business idea, a conclusion convinces them to take the desired action.
An executive summary is a preview of what the plan will be about. The conclusion, on the contrary, is a review of what the plan has discussed.
An executive summary is concise. However, conclusions are more concise covering only the aspects that can drive decisions and actions.

Clear enough, right? Let’s move ahead.

Why is a business plan conclusion important?

Although a conclusion is not mandatory, it is an important aspect of a business plan. It communicates your passion and commitment to a business idea and convinces the readers of your ability to succeed.

A conclusion synthesizes the key insights of your business plan focusing on aspects such as market analysis , business strategy, competitive advantage, and milestones. It reinforces your plan’s vision and establishes your strategic position amongst readers.

A well-crafted conclusion will drive desired actions from the readers. It can seal the deal and fulfill your objective of writing a business plan.

How to write a conclusion for your business plan?

From what information to include to where to place the conclusion—this section will guide you to write an impactful conclusion for your business plan.

1. Choose the right placement

There are two places for you to place your conclusion. It can either be after your executive summary or at the end of the document.

The location changes depending on who you plan to present your business plan with.

If you prepare a business plan for investors , placing your conclusion after the executive summary will increase the likelihood of it getting read.

However, the conclusion should be placed at the end for business plans that are prepared for internal use and business partners. Conclusion in this case reviews and emphasizes the company’s strengths.

2. Place the right information

The information in your conclusion changes depending on your audience and the intent of the business plan.

For instance, if you’re a new business trying to secure funds, your conclusion can synthesize the key details about the following:

Funding demands
Benefit to the investors
Target market and target customers
Solution for the problem
Marketing strategy
Team members and their expertise
Financial projections
Competitive advantage
Launch plan

However, if you’re a small business trying to grow or use this plan for internal use, consider covering key insights from the following aspects:

Mission statement
History and the milestones
Data supporting growth
Industry trends
Financial summary
Long-term goals and objectives

These are the details you can cover while writing your conclusion. However, including every bit of these in your conclusion is unnecessary.

Think from your reader’s perspective. Determine the information that would excite them about your business and form your conclusion accordingly.

3. Include stats and visuals

Now that you’ve decided on the placement and information to be included in your conclusion, it’s time to make your conclusion zesty.

How? Get the facts and stats that would support the claims you make in your conclusion.

For instance, if you’re promising growth, show market research that supports your claim. Again, if you’re promising a certain return on investment, include the statistics that can make investors believe you.

Sway away from vague statements and assumptions. And, if you feel that the statistic would be best absorbed through visual charts or graphics, don’t be afraid to add one.

4. Add a CTA

If you want the readers to take action, guide them. Add a crisp clear call to action(CTA) and explain how the readers would benefit from taking that action.

For instance,

Join us as a silent partner by investing in Beanco.
Invest $2 M and secure a 20% stake in equity.
Support our growth by sharing references.

Don’t beat around the bush. If you are making a funding request, be unapologetic. And even if not, your CTA should suggest how a reader can support your growth.

5. Review and proofread

Once your conclusion is ready, re-read and proofread it for any grammatical or spelling errors. Fix the flow and remove fluff to make your conclusion crisp and persuasive.

Get your friends and business partners to read the conclusion and check if the message you are trying to send is crisp and clear. If not, make the necessary adjustments.

Business plan conclusion example

Use this business plan conclusion as a reference and tailor yours keeping in mind the needs, objectives, and audience for your business plan.

Launching EcoRide Electric Scooters will revolutionize urban transportation by providing an eco-friendly, efficient, and affordable solution for city commuters. Our innovative design and advanced technology will set us apart in the rapidly growing market for sustainable transport options.

We are poised to make a significant impact on urban mobility, and we want [Investor’s Name] to be a foundational part of our journey. By investing in EcoRide Electric Scooters, [Investor’s Name] will benefit in the following ways:

Joining a groundbreaking startup with a vision to reduce urban pollution and traffic congestion, led by a passionate team with over 20 years of combined experience in the automotive and tech industries.
Supporting the development and deployment of cutting-edge electric scooters, contributing to a cleaner, greener urban environment.
Gaining equity in a high-potential startup with a scalable business model and the potential for significant returns as we expand to new markets.

Together, we can transform urban transportation, reduce carbon footprints, and create a sustainable future for city dwellers. If you share our vision for a cleaner, more efficient urban commute, partner with us.

Let’s conclude your business plan

Now that you have understood the process and referred to an example, let’s conclude your business plan.

Identify the information you must highlight, encapsulate it into a powerful conclusion, and pair it with an even more powerful CTA.

However, remember that the conclusion just seals the deal. It’s the business plan that will hook your readers till the end. With Upmetrics’s AI business plan generator , you can create truly engaging business plans in just about 10 minutes.

So, improvise your business plan, sum it up with a convincing conclusion, and send over your business plan to your potential investors to secure funding.

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Frequently Asked Questions

How long should a business plan conclusion be.

A conclusion of your business plan can be anywhere between 2-3 paragraphs long. In this ideal length, you must outline the key takeaways of your plan, clarify the next step to the readers, and explain to them the benefit of supporting your business.

What is the most important part of a business plan conclusion?

A CTA is the most important part of the conclusion, especially if you are trying to raise funds. However, if you are writing a plan for internal purposes, focus more on synthesizing the key essentials of a plan.

Can I include new information in the conclusion?

A conclusion does not introduce any new information. It simply reinforces the business’s position and convinces the readers to take the desired action for one last time. For instance, offer funding for your business.

Is it necessary to include a call to action in the conclusion?

It is very important to add a crisp clear CTA while concluding your plan. You can’t expect the readers to invest in your business or help you grow if you don’t clarify the steps to take action.

About the Author

conclusion and recommendation business plan

Vinay Kevadiya

Vinay Kevadiya is the founder and CEO of Upmetrics, the #1 business planning software. His ultimate goal with Upmetrics is to revolutionize how entrepreneurs create, manage, and execute their business plans. He enjoys sharing his insights on business planning and other relevant topics through his articles and blog posts. Read more

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Writing an Effective Business Plan Conclusion: Tips & Examples

Do you need help concluding the business plan that you have worked so hard to create? A well-crafted business plan conclusion is essential for setting the tone for the entire document, and summarizing the key points that justify why the business will be successful. In this article, we will explore how to write an effective business plan conclusion that will ensure that your plan is read and taken seriously.

How to End a Business Plan?

The conclusion of your business plan should briefly summarize the main points of your argument. It should state why you believe your business will succeed and explain how you intend to achieve your goals. A business plan conclusion should cover the opportunity, highlight the strengths of your plan, summarize your vision, and remind the reader why your business is in a unique position to succeed.

A template example of a solid business plan conclusion follows:

Opportunity: Explain the opportunity that your business is capitalizing on and why it is attractive.
Key Strengths: Highlight the key strengths of your plan, such as your competitive advantage and any unique selling points.
Vision: Summarize your vision for the business and its future.
Unique Position: Remind the reader why your business is in a unique position to succeed.

It is important to keep your business plan conclusion succinct and to the point. It should be no longer than a few paragraphs, and should be a clear and concise summary of the entire document.

At Atlantabusinesses.com, we understand how important it is to have a clear and effective business plan conclusion. We are experts in the field of business brokering, and we can help you through the entire process of buying or selling a business. Visit our website for more information, and for answers to all your questions about selling a business and about business brokers.

What is the final stage of the business plan?

Conclude your business plan with a presentation for obtaining funding, and provide any relevant data, graphs, and charts to back it up. Make it explicit how much money you are asking for from investors—whether it is equity, a collaboration, or a loan.

What is the appropriate way to conclude a business plan letter?

What should be included in the concluding section of a business plan.

It should also include a description of the problems you are trying to solve, a review of your marketing strategy, and an assessment of the financials. The best way to write an executive summary is to write it after you have a thorough understanding of your entire plan and can succinctly summarize it. The executive summary should include your company’s mission statement, a description of the products and services you offer or plan to offer, an overview of the problems you are aiming to solve, an assessment of your marketing strategy and an overview of the financials.

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How to Write a Great Business Report Conclusion: Everything You Need to Know

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When creating a comprehensive business report for your company, most of your time and energy will go into writing the main section of your report.

Once you come to the conclusion, you will probably be exhausted and you may feel the urge to just ‘wrap it up’ as soon as possible.

This can be a costly mistake.

Your conclusion carries the same importance as all the other sections of the report since it leaves the final impression on the reader.

How you conclude your business report has a direct impact on the way in which the readers will respond to the important information you gathered.

The business report may be spectacular, but without a convincing conclusion, all your efforts may deteriorate.

In this article, we are going to teach you how to write a compelling conclusion that will leave a huge impression on all your readers.

What Is Conclusion in Business Report Writing?

How do you write a conclusion for a report, types of business report conclusions, improve business reporting with databox.

No matter which type of business report you have written, you will need a good conclusion to sum up all the critical information.

A business report conclusion is the last section of the document used for summarizing the most important information, providing a final word to the readers.

Through the conclusion, you are able to convey the main message of your business document. You use it to outline the report as a whole, remind the readers of the main pain points, and present the key findings and decisions.

Depending on whether you have written a shorter or longer business report, the conclusion length may vary, but it should always be included. It is a sign of good organization and it can make the readers understand the pain points much easier.

To put it simply, the conclusion is supposed to create the impression among the readers that the purpose of the report has been achieved.

Business report conclusions have a lot of similarities to executive summaries, which is why a lot of people tend to confuse these two.

However, there are some important things that differentiate them. These include:

Executive summaries are mainly focused on displaying what the report will be about, while conclusions are an overview of what was discussed in the report.
Executive summaries provide readers with a broad overview of the business report, while the conclusion summarizes the key pain points and most important data.
Executive summaries should convince the readers to continue reading the report, while the conclusion should persuade them to take certain action.
Conclusions tend to include CTAs (Call to Action), which isn’t the case with executive summaries.

Related : Executive Reporting: Management Reporting Best Practices & Report Examples

Now that you understand what a conclusion is and why it’s so important to include it in your report, let’s show you how you can write the perfect one and impress your readers.

Follow these steps to create a great business report conclusion.

Choose the Position

Include the right information, summarize the contents, facts and statistics, maintain a positive tone, develop a cta.

There are two places where conclusions are most commonly placed – at the end of the executive summary and at the end of the entire report.

For business plan reports, the common practice is to place the conclusion at the end of the executive summary.

This way, you make the first step through the executive summary template and introduce the plan’s main pain points and funding needs. Then, you create a conclusion to summarize these numbers to your potential investors, which directly impacts their decision to go over the executive summary once more, this time reading it more thoroughly.

For other types of business reports, the conclusion will generally be placed at the end of the whole report. Established companies use these business reports to track performances and data from important departments, which is why the conclusion should primarily focus on briefly reviewing the key metrics you included and emphasizing the company’s main strengths.

The information you put into the conclusion also depends on whether you are a new startup looking to attract investments or an established company that wants to track performances and asses objectives.

To raise money, startups should include this type of information:

Financial needs
The benefits of their product and how it can affect the market
Target audience/ideal customer persona
How the product can attract new customers
Marketing and sales strategy
Competitive landscape and analysis
The expertise of the main members of the company
Financial forecasts (next 3-5 years)
Launching plan

Existing companies should include information such as:

Mission statement
Performance history
Data that showcases business growth
Financial summary
Overall goals and objectives

While these types of details are important, they aren’t universal for all reports. Your primary goal should be to include the most important data from your specific document and keep the conclusion concise and understandable.

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The best way to convey your main message is by explaining it in detail throughout the business report and then summarizing it to recap the main points.

When creating the business report, take notes of the most important information that you should later highlight in the conclusion.

Make sure to avoid any extra details since they are already provided within the report. Only include the key points that explain why the business report itself is useful to the company.

Also, don’t use any additional information that you didn’t include in the report. This can only confuse your readers and send mixed messages.

You should prepare some facts, statistics, and data to support the statements in your conclusion. No matter if the reader is a potential investor or the key stakeholders in your company, you will want to include some evidence to back up your claims.

This makes the conclusion much more convincing and the audience will see that your forecasts aren’t based only on vague assumptions.

The tone in your conclusion should match the rest of the document and the best way to leave an impression on the audience is by using a professional and positive tone throughout the whole report.

After going through the conclusion, the readers should feel interested and enthusiastic to support the growth of your organization.

Make sure you exude confidence by using strong and active language.

Including a call to action at the end of your conclusion helps you persuade the readers to support the goals you set up.

This can be anything from “Join us at X enterprises” or “Invest in X and become a part of the success”.

A good CTA includes strong action words through which you emphasize the benefits of investors joining your firm or key stakeholders supporting your objectives.

After you are finished writing the conclusion, go over it once again to make sure there aren’t any spelling, grammar, or punctuation mistakes you overlooked. The conclusion should be clear, precise, and easy to go understand.

You can even ask a colleague or a friend to read it since it’s always helpful to have an extra set of eyes. Ask their opinion on how the conclusion makes them feel and whether it was easy to go through.

As we said, depending on which type of business report you have written and what is included in it, there are a few different types of conclusions you should differentiate.

Let’s walk you through them.

Conclusion with a Prediction

Conclusion with a major problem, conclusion with a quote, conclusion with a summary.

If your report focuses on a decision or strategy that already took place, you can write a conclusion that predicts the outcomes of that specific strategy.

You can include financial forecasts, sales expectations, and overall growth predictions. Make sure to also back up your predictions with sufficient evidence.

Writing this type of conclusion can be a bit tricky. You don’t want to come off strong and repeat the same issue over and over again. However, you do want the readers to take the issue seriously and realize why it is important that everyone focuses on solving it as soon as possible.

Be direct, but also lenient. Describe why that issue is important and provide a few ways on how you can solve it. Keep it brief and memorable.

Ending your conclusion with a powerful quotation can leave a great impression on the readers. However, you should be very careful when choosing the right quote.

You can’t just throw in some saying from Shakespeare and wrap it up. It is best to quote someone influential in the industry in such a way that it reinforces your message.

When writing your short but meaningful summary, don’t go into detail about your main points again. Keep it as brief as possible and only remind the readers of the most important information.

Also, you should remember that a conclusion doesn’t have to include only one of these things. Mixing up a summary and a prediction can be a powerful combination, so always try to figure out a few different ways to convey your message and then choose the right one.

Business reporting is one of the indispensable activities within a company, but it is also one of the most time-consuming.

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How To Write the Conclusion of a Business Plan

Your business plan’s conclusion should encapsulate your overall justification for why your venture will succeed in order to draw investors or motivate your staff. Additionally, it ought to give a short future outlook outlining your goals for development and growth. The conclusion should also restate your company’s key selling points and leave readers with a favorable impression.

How to write a business plan conclusion

When writing a business plan’s conclusion, adhere to these guidelines:

1. Decide where you want it to be

Choose whether you want the executive summary or the entire document to contain your business plan’s conclusion. Consider placing the conclusion at the end of the executive summary if you are writing a business plan to attract investors or raise money. The executive summary introduces the key points of the business plan and outlines the company’s funding requirements and conditions. It can be more persuasive to potential investors to place the conclusion at the end of this summary, and it also increases the likelihood that it will be read.

You might select a more conventional location for your conclusion at the end of the document if you are writing a business plan for an established company to track progress or provide information to a third party. In this case, your conclusion should review and highlight the company’s advantages.

2. Include the right information

Depending on whether your business is a startup looking to raise capital or an established organization evaluating goals, the information you include in your business plan conclusion will vary. New companies trying to get funding might include:

Established businesses might include information in their conclusions such as:

Not all conclusions need all these details. The most crucial information for the purpose of your business plan should be included, but the conclusion should be brief. When selecting what to include in your conclusion, keep your audience in mind. Focus on the value your company provides to investors, for instance, and the reasons why this opportunity is special. Focus on company leadership’s experience and ways to lower the lender’s risk when applying for a business loan.

3. Add facts and statistics

Facts, figures, and statistics should be used to support the conclusions in your business plan. Investors want evidence that your business can succeed and that they will see a return on their investment. Include details like your track record of expanding this or other businesses, or the information you used to calculate how much funding you need. This information is more convincing than assumptions or vague statements.

4. Maintain a positive tone

Your business plan’s conclusion should be formal and upbeat in nature. You want to convey your optimism and enthusiasm for the company’s success so that the reader will feel motivated or enthusiastic to support the business. Use language that is assertive and active and conveys your confidence in the business.

5. Include a call to action

At the conclusion of your essay, include a brief call to action that instructs the reader on what to do next. The reader should be motivated to support the business’s objectives in the manner you desire. You might conclude by saying something like, “Invest in the success of Harper Corps by joining us as a minority partner in WinTec Enterprises.” In your call to action, use action words and emphasize how the reader will benefit from taking that action.

6. Review your conclusion

Make sure your business plan’s conclusion is written with proper spelling, grammar, and punctuation by reading it after you’ve finished. You want it to flow naturally and be both concise and clear. Ask a friend or coworker who is not familiar with the objectives of your company to read it as well. Ask them if they have any questions about the book’s conclusion and whether reading it has piqued their interest or excitement. Then make improvements as needed.

What is a business plan conclusion?

The goal of a business plan conclusion is to persuade the reader of the company’s success by summarizing the plan’s advantages. The conclusion should highlight how the organization makes money and why it is a good investment because businesses typically produce business plans in order to obtain funding or investors. Businesses also create business plans to evaluate their performance or set new objectives.

In a business plan, the conclusion can be found at the end of the whole thing or at the end of the executive summary. The executive summary, which appears at the start of the business plan, provides an overview of what the reader can expect to learn and persuades them to continue reading. Some people conflate the executive summary and the conclusion, but there are several significant differences between the two.

Every business, whether new or established, should have a business plan with a succinct and focused conclusion.

Business plan conclusion example

Use this sample business plan conclusion as a model for your own plan’s conclusion, being sure to customize it to your target audience’s needs and requirements:

Expanding Bridgewater & Co. Our already prosperous company will be able to provide cutting-edge health technologies to more people who need them thanks to its expansion into the Denver metropolitan area. Buying this manufacturing facility in Denver gives us the chance to produce all of our goods internally and in a single location and ship them out quickly and effectively to the area. We want Sixty-Seven Investors to be a part of this exciting revolution because we have the unique ability to change lives. Investing in Bridgewater & Co. s expansion benefits Sixty-Seven Investors by:

We can save more lives if we work together, Bridgewater & Co. Products change, add to the community’s employment opportunities, and revolutionize the health technology sector. Invest with us if you share our vision for a more prosperous and healthy future.

Business Plan Writer Explains How to Write a Business Plan: Part 8 The Conclusion

How do you conclude a business plan presentation?

Conclusion. The conclusion of a business plan doesn’t necessarily need to be lengthy; in fact, it can be quite succinct. Your conclusion should restate the opportunity, highlight the plan’s key strengths, summarize your vision, and remind the reader of the reasons why your company is in a position to carry out the plan successfully.

What is summary in business plan?

One of the most crucial components of your plan is the executive summary, which is a synopsis of all the important sections of your business plan.

What should be done after finishing the business plan?

Make sure it connects to your purpose.
Begin to test and measure.
Use the 80/20 rule.
Learn something new (quickly)

What is recommendation in a business plan?

A business recommendation letter, also known as a reference letter, is an endorsement of the products or services that one company has provided to another business or individual.

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Strategic Business Recommendations: How to Write and Present Them Effectively

Writing and presenting strategic business recommendations can be a challenging task. To ensure success, it is important to follow a structured process and present your recommendations clearly and persuasively. This article provides valuable tips and strategies to help you write and present your recommendations effectively and achieve your desired outcomes.

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Effective strategic business recommendations can make or break a company’s success. Whether it’s proposing a new product or service, outlining a marketing strategy, or presenting operational improvements, the way in which these recommendations are presented can be the difference between approval and rejection. In today’s fast-paced business world, it is crucial to be able to communicate ideas clearly and effectively. This article will provide guidance on how to write and present strategic business recommendations to communicate your vision better, inspire confidence in your ideas, and ultimately achieve your goals.

1. understanding the importance of strategic business recommendations, 2. identifying the key components of effective recommendations, 3. conducting in-depth research to support your recommendations, 4. analyzing data and statistics to validate your recommendations, 5. assessing current market trends and competitors, 6. developing a clear and concise action plan, 7. crafting a convincing executive summary to present to stakeholders, 8. presenting your recommendations with confidence and clarity, 9. tailoring your presentation to your target audience, 10. incorporating visuals and supporting materials to enhance your presentation, 11. addressing potential objections and criticisms from stakeholders, 12. evaluating the success of your recommendations and adjusting as necessary, our readers ask, final thoughts.

In today’s fast-paced business world, making the right strategic decisions can mean the difference between success and failure. That’s why having a team of experts to guide you through this process is so important. Business recommendations, based on thorough research and analysis, can be the key to making smart, informed decisions that will help your company thrive.

Strategic business recommendations can help you evaluate various options, assess the potential risks and benefits, and determine the best course of action for your organization. Whether you are considering new product lines, expanding into new markets, or reorganizing your company, having access to expert business recommendations is critical. These recommendations can provide you with the insights and advice you need to confidently move forward, knowing that you are making the best choices for your business. So, if you’re serious about success, make sure you prioritize the importance of strategic business recommendations in all of your decision-making processes.

To ensure that your recommendation stands out and convinces its recipients, it is crucial to identify the key components that make recommendations effective. Here are some of the components that you need to focus on:

– Background Information: Before you dive into the recommendation itself, make sure that you provide context that explains why the recommendation is needed. This helps create a framework for understanding and sets the tone for your proposal. – Specificity: Avoid being vague or generic. Instead, be specific about what your recommendation entails, why it is necessary, and what steps need to be taken. Use concrete examples and data to add credibility to your proposal. – Actionable: The recommendation also needs to be actionable. Ensure that you provide clear instructions on how implementation can be carried out, along with timelines, resource requirements, and responsibilities. – Benefits: Conveying the benefits of the recommendation is also essential. Explaining how the proposal will affect business outcomes, costs, customer satisfaction, or employee morale – whatever the case may be – will help underscore its value.

Another essential component of effective recommendations is understanding your audience and tailoring your proposal to their needs. Whether you are making recommendations to your boss, team members, customers, or partners, make sure that you use language that they can understand and resonates with their pain points. Plan your style and approach based on your audience to ensure the highest chance of acceptance. By taking all these components into account, your recommendations will be sure to garner a positive response and create actual results.

When it comes to making recommendations, conducting in-depth research is critical to making informed decisions. Research helps to uncover the underlying issues, identify potential solutions and validate assumptions. It also provides a basis for creating robust and actionable recommendations that can lead to meaningful change.

To conduct thorough research, it’s essential to start with a clear understanding of the problem or opportunity at hand. A well-defined problem statement can help guide your research by outlining the key issues and questions you need to explore. This helps to focus your efforts and resources, ensuring that you’re gathering the correct information to support your recommendations. Additionally, it’s essential to use a variety of sources when conducting research, including primary and secondary sources. This approach helps to ensure that you’re getting a broad and diverse range of perspectives that can inform your recommendations.

When it comes to making recommendations for your business or organization, it’s essential to back up your ideas with solid data and statistics. Analyzing this information can help you validate your suggestions and convince stakeholders of the best course of action. Here are some tips for effectively analyzing data and statistics:

1. Define your objectives – Before you start analyzing any data, be clear on your objectives. What are you hoping to achieve? What questions are you hoping to answer? This will help you focus your efforts and ensure that you’re gathering the correct information.

2. Use multiple sources – It’s essential to use a variety of sources when analyzing data and statistics. This can include surveys, customer feedback, sales reports, and industry research. By gathering information from multiple sources, you can get a complete picture of the situation and make more informed recommendations.

To succeed in today’s business world, it’s crucial to keep a close eye on the current market trends and the competition. It’s essential to stay ahead of the game, and this means continually assessing the landscape to stay on top of any developments that could have an impact on the business.

One way to stay on top of the competition is by conducting a SWOT analysis. This involves evaluating the organization’s strengths, weaknesses, opportunities, and threats. By identifying these factors, the business can begin to formulate strategies to strengthen its position in the market. It’s also essential to stay on top of current trends and understand how they are affecting the organization and the industry as a whole. This could involve tracking consumer behavior, analyzing competitors’ actions, and keeping up-to-date with industry news. By keeping a finger on the pulse, the business can adapt quickly to changes and ensure it stays ahead of the competition.

After identifying the goals and objectives, the next step is to develop a clear and concise action plan. A proper action plan will allow the team to visualize and prioritize the steps needed to achieve the goals. Moreover, it will help track the team’s progress, and ensure that they remain focused on their targets.

To develop a clear and concise action plan, the first thing to do is to break down the goals into smaller, more achievable steps. Set timelines and assign responsibilities for each step, and make sure that they are attainable. It is also important to allocate resources, such as personnel and budget, to ensure the plan remains feasible. Furthermore, it is crucial to communicate the plan effectively to all the team members to ensure buy-in and participation. Overall, a well-designed and communicated action plan will guide the team toward achieving their objectives.

It is essential for achieving the set goals and objectives. An adequately designed action plan will allow for better progress tracking, focus the team on their targets, and ensure allocating the necessary resources. By breaking down the goals into smaller, attainable steps, assigning timelines and responsibilities, communicating effectively, and allocating resources, a team can achieve its objectives within the desired timeframe.

When it comes to presenting your business plan to stakeholders, your executive summary will play a crucial role. It’s essentially the elevator pitch of your entire proposal and should be crafted to be persuasive and engaging from its opening sentence. Here are some tips to make your summary stand out:

– Use clear and concise language: Avoid jargon or technical terms that could be confusing for non-experts. Use short sentences and avoid unnecessary explanations or details. – Start with a hook: Your first sentence should grab the attention of your audience and set the tone for the rest of the summary. Consider using a surprising fact, a thought-provoking question, or a powerful statement. – Highlight your key points: Your summary should cover the most critical aspects of your business plan, such as your target market, your unique value proposition, and your financial projections. Use bullet points or bold text to make your main ideas stand out. – Focus on benefits: Instead of just listing features, emphasize the benefits that your business will bring to your stakeholders. Show how your product or service will solve their problems or fulfill their needs. – Be realistic: While you want to make your plan sound exciting, avoid overpromising or exaggerating your claims. Make sure data and research back your projections.

Remember that your executive summary is your chance to make a strong first impression on your stakeholders. Ensure it’s well-written, persuasive, and tailored to your audience’s interests and needs.

When presenting your recommendations, it’s important to exude confidence and clarity. By doing so, you will not only capture your audience’s attention but also instill a sense of trust and conviction in them. Here are some tips for :

Firstly, know your material inside out. Make sure you have a thorough understanding of the subject matter before you make any assumptions or recommendations. Research thoroughly, review all available data, and draw conclusions based on facts rather than speculations. Secondly, use visual aids such as graphs, charts, and diagrams to support your recommendations. These can help illustrate complex ideas and make the presentation more interactive and engaging. Thirdly, use precise and concise language. Speak clearly and use simple, easy-to-understand terms. Avoid complicated jargon and acronyms that may confuse your audience.

In addition, it’s crucial to remain open to feedback and questions from your audience. Encourage them to ask questions and offer their own suggestions. Also, clarify any misunderstandings or gaps in knowledge they may have, and respond with facts, examples, and supportive evidence. Remember, being confident doesn’t mean being rigid or dogmatic. Be open-minded and willing to adapt and adjust your recommendations based on the feedback and input you receive.

Last but not least, practice, practice, practice! The more you practice your presentation, the more comfortable and confident you will feel. Consider rehearsing in front of a mirror, recording yourself, or delivering a dry run for a small group of colleagues. This will help you hone your delivery and fine-tune your message for maximum impact. Finally, make sure you present yourself professionally. Dress appropriately, maintain good eye contact, and use confident body language.

Knowing your target audience is an essential part of tailoring a successful presentation. Understanding the demographics, interests, and needs of your audience will allow you to tailor your message appropriately. This can include using appropriate language and tone, selecting the right images and multimedia, and emphasizing key points that resonate with your audience.

When it’s essential to consider their level of knowledge and experience, you may need to adjust your content accordingly, either by simplifying complex concepts or by adding more detailed information for those with a deeper understanding. Additionally, it’s essential to consider the unique challenges and experiences that your audience may be facing, and how your presentation can help address those issues. By taking the time to tailor your presentation to your audience, you will position yourself as a knowledgeable and thoughtful presenter, increasing your chances of making a lasting impression.

A picture truly is worth a thousand words. Incorporating visuals and supporting materials into your presentation can significantly enhance the overall impact of your message. Effective use of visuals can help your audience understand complex ideas better and retain more information. They make your presentation more engaging, compelling, and memorable.

When using visuals, be sure to choose high-quality images and diagrams that are relevant to your topic. Avoid using low-quality or pixelated images as they can detract from the overall professionalism of your presentation. Consider using graphs and charts to present data or statistics visually. This helps your audience understand the trends and patterns more easily. Keep in mind that less is more. Instead of cluttering your slides with too many visuals, aim to use them sparingly to emphasize your points effectively. With the right balance of visuals and supporting materials, you can make your presentation more dynamic and persuasive.

When implementing any project or initiative, it is vital to anticipate and address any potential objections and criticisms from stakeholders. These objections can range from practical concerns about the project’s feasibility to ethical concerns about its impact on the community. It is essential to take these objections seriously and address them thoughtfully and transparently.

One approach to addressing objections is to engage in open and honest communication with stakeholders. This can involve holding community meetings or focus groups to gather feedback and concerns. It is important to be receptive to feedback and take it seriously, even if it may be critical. Additionally, offering explanations and clarifications about the project can help avoid misunderstandings and address concerns about feasibility. Finally, acknowledging and addressing ethical concerns can demonstrate a commitment to social responsibility and help build trust with stakeholders. By taking these steps, a project can minimize potential objections and build stakeholder support.

Once you have implemented your recommendations, it’s essential to evaluate their success and adjust as necessary. This step is crucial in ensuring that your efforts are aligned with the overall goal of the project. The success of your recommendations can be measured in various ways, including:

– Increased revenue or profit margins – Improved customer satisfaction – Higher traffic or engagement on your website or social media platforms – Better employee retention rates

To evaluate success, it’s crucial to establish clear metrics and KPIs beforehand. This will make it easier to track progress and determine whether your recommendations are working. Don’t be afraid to make adjustments if your initial approach isn’t delivering the desired results. It’s okay to pivot and try something new as long as it’s aligned with the overall goal. Remember, success is not a one-time event but an ongoing process that requires constant monitoring and tweaking.

Q: Why is writing and presenting strategic business recommendations effectively important?

A: Writing and presenting strategic business recommendations effectively is critical because it helps organizations make informed decisions that can improve their performance and bottom line. Effective recommendations provide insights, solutions, and action plans for resolving business challenges and achieving strategic objectives, which can create value and a competitive advantage for the company.

Q: What are the critical components of a strategic business recommendation?

A: The critical components of a strategic business recommendation include a clear statement of the problem or opportunity, a review of relevant data and analysis, identification of possible solutions and their pros and cons, a recommended course of action, and an implementation plan with timelines and measures of success. Effective recommendations should also consider potential risks and contingencies, stakeholder perspectives, and ethical considerations.

Q: How can you ensure that your recommendation is persuasive?

A: To ensure that your recommendation is persuasive, it is crucial to present it logically and compellingly. This involves building a solid business case with data, facts, and evidence that support your argument, as well as addressing potential objections and counterarguments. It is also essential to tailor your message to your audience’s needs, preferences, and expectations, and to use persuasive language and visuals that enhance your message and engage your audience emotionally.

Q: What are some common mistakes to avoid when writing and presenting strategic business recommendations?

A: Some common mistakes to avoid when writing and presenting strategic business recommendations include: omitting relevant information or analysis; presenting incomplete or inaccurate data; making unsupported or overgeneralized claims; failing to consider stakeholders’ interests and concerns; being overly complicated or jargon-filled; and lacking clarity and coherence in your presentation. It is also essential to avoid being too pushy or defensive in your arguments, as this can undermine your credibility and effectiveness.

Q: How can you improve your skills in writing and presenting strategic business recommendations?

A: You can improve your skills in writing and presenting strategic business recommendations by practicing and seeking feedback from colleagues or mentors. You can also attend training programs, workshops, or conferences focusing on strategic thinking, communication, and presentation skills. Reading books, articles, and case studies on strategic management, marketing, and leadership can provide helpful insights and inspiration. Finally, staying informed about industry trends, market conditions, and competitive threats can help you develop a strategic mindset and identify new opportunities to add value to your organization.

The ability to write and present strategic business recommendations effectively is an essential skill for any business professional. By following the tips outlined above, you can enhance the clarity, persuasiveness, and impact of your recommendations, and increase your chances of success. Remember to tailor your recommendations to your audience, back them up with data and research, and use clear and concise language to drive your message home. With practice and determination, you can become a master at crafting and delivering recommendations that create value and drive business growth. Use these insights wisely, and you’ll be well on your way to becoming a trusted advisor and respected leader in your organization.

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A seasoned business journalist with over 10 years of experience covering startups and entrepreneurship. With a keen eye for detail and a passion for telling the stories of innovative business leaders, this writer’s articles provide valuable insights and analysis for readers looking to stay ahead of the curve in the world of business.

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How To Write the Conclusion of a Business Plan

Business Plan Writer Explains How to Write a Business Plan: Part 8 The Conclusion

How to write a business plan conclusion

When writing a business plan’s conclusion, adhere to these guidelines:

1. Decide where you want it to be

2. Include the right information

Established businesses might include information in their conclusions such as:

3. Add facts and statistics

4. Maintain a positive tone

5. Include a call to action

6. Review your conclusion

What is a business plan conclusion?

Every business, whether new or established, should have a business plan with a succinct and focused conclusion.

Business plan conclusion example

Use this sample business plan conclusion as a model for your own plan’s conclusion, being sure to customize it to your target audience’s needs and requirements:

How do you conclude a business plan presentation?

What is summary in business plan?

One of the most crucial components of your plan is the executive summary, which is a synopsis of all the important sections of your business plan.

What should be done after finishing the business plan?

Make sure it connects to your purpose.
Begin to test and measure.
Use the 80/20 rule.
Learn something new (quickly)

What is recommendation in a business plan?

A business recommendation letter, also known as a reference letter, is an endorsement of the products or services that one company has provided to another business or individual.

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Business Plan (8) – Conclusion and Appendices

In Part 8 of our Guide to Writing a Business Plan we look at the ‘Conclusion’.

12. Conclusion

A business plan conclusion, doesn’t need to be very long, in fact, it can be pretty brief.

Your conclusion should; reiterate the opportunity, highlight the key strengths of your plan, summarise your vision, and remind the reader why your business is in a position to successfully execute the plan.

If you are looking to raise funding with your plan, you should detail the finance required.

Depending on who the plan is for, you could also include a ‘call-to-action’, telling the readers what they need to do next.

Add any Appendices

Finally, add any appendices that are relevant and strengthen your business plan.

You should put detailed information that supports your plan but is too ‘heavy’ to include in the main body, in an appendix. These could include things like; additional statistics, results of research that you have done, or maps.

Business Plan Conclusion Tips

This is a good time to transmit your optimism without exaggerating
Leave the reader feeling positive

The guide was written with help from the EBP Business Plan Designer Team.

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How to write the conclusion section of your business plan.

This tutorial explains how to write the conclusion for a business document, for example, a report, thesis, project, or any document that needs a section to gather together the main points.

The structure of the conclusion is as follows:

Reviewing this conclusion, we can see that it mirrors the structure of the executive summary. This serves several purposes:

Reminding the reader of the messages made in the executive summary
Reinforce the main message the authors want to highlight
Laying information throughout the white paper to nudge the reader in the right direction.

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How to Conclude a Business Plan

by Mariel Loveland

Published on 28 May 2019

It doesn’t matter if you’re launching a brand new business or planning to expand your already successful venture: you will need a business plan. This is a road map that helps you achieve all of your business goals. It basically answers a series of questions about your company ranging from what your product is to who you’re selling it to. This, of course, can be figurative as some businesses provide services, rather than products.

For example, a plumbing company’s product is fixing pipes, not typically the retail sale of the pipes themselves. A medical practice’s product is diagnosing and curing illnesses, not typically the medicine itself (that’s usually left up to the pharmacies).

Partially completed written business plan.

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Inside every business plan is a conclusion – and it varies depending on the industry and the audience. Regardless, this is your final pitch to summarize your entire report. A solid business plan conclusion example is one that highlights strengths and ensures the reader that your business will be a success.

Share the conclusion of your plan with a few people you trust to make sure company outsiders can understand your points.

Explain The “Why” Behind Your Business Plan

In your business plan conclusion pdf (or printed paper if you’re going old school), you need to tell readers why they’re actually reading your business plan in the first place. For example, the conclusion of a business plan for a coffee shop looking for funding might briefly mention that you’re searching for a certain amount of money to remodel your dining space or buy a new espresso machine.

You might also want to use different business plan conclusion examples for different audiences. If you’re looking for $100,000 in funding from investors, disclose financial details in your conclusion. If you’re looking for a new partner or to sell your business, you’ll need to outline this in your conclusion as well. You might actually be looking for investors and partners or looking for investors or a buyer at the same time. Print out business plan conclusion PDFs for each specific instance.

State The Key Milestones

Your business plan probably has stacks of pages with different milestones. When do you expect to turn a profit? How long will it take you to train new staff? In how many months do you expect to break a sales milestone? Even your executive summary, the shorter preface to your plan that explains your key assumptions in everyday speak versus industry jargon, has a few milestones buried deep in its short pages.

State your key milestones in your conclusion, whether you place this in an executive summary or at the end of your report. For example, the conclusion of a business plan for a coffee shop might say that you expect to sell 1,000 lattes by the first month. Write this down along with the percentage of increased revenue you expect month-to-month and the measures you’ll take to get there. Put the milestones in a graph, table or column for easy digestibility.

Create a Call to Action

The best business plans don’t just end with an “okay, now what?” They end with inspiration. To do this, you’ll need to add a call-to-action to your business plan conclusion. The call-to-action can be anything from “invest money today” to “join us as a partner.”

For example, the conclusion of a business plan for a coffee shop might include “try one of our specialty cold brews today.” This is a successful business plan conclusion example because it gives investors the opportunity to try your product to see if they really believe in what you’re offering.

Not all Business Plan Conclusion Examples Are at the End

Before printing out your business plan conclusion PDF, think about where you’re going to actually put your conclusion. This might come at the end of your executive summary, which is at the beginning of your business plan.

You also might wish to write a longer conclusion at the end of your business plan. Either is effective, though the executive summary does come first and is most easily digested. You might have the biggest opportunity to show your business prowess in a place most investors are going to read first.

Business plan conclusion: Why Your Business Plan'sConclusion Matters More Than You Think

1. the power of a strong conclusion, 2. summarizing your business plan, 3. reinforcing key points, 4. inspiring confidence in investors, 5. demonstrating strategic thinking, 6. addressing potential concerns, 7. setting clear goals for the future, 8. leaving a lasting impression, 9. taking action based on your conclusion.

1. summarize the main points : A strong conclusion should succinctly summarize the main ideas and objectives outlined in your business plan . By restating these points, you reinforce their importance and ensure they are fresh in the reader's mind.

2. Emphasize the value proposition: Use the conclusion to highlight the unique value proposition of your business. Clearly articulate how your product or service solves a problem or meets a need in the market. This helps to solidify your business's position and differentiate it from competitors.

3. Inspire confidence: A well-crafted conclusion instills confidence in investors or stakeholders. showcase the potential for growth and profitability, backed by market research and data. By demonstrating a clear path to success , you can inspire trust and support for your business venture .

4. Call to action: Encourage the reader to take the next step, whether it's investing in your business, partnering with you, or simply learning more. Provide contact information or direct them to relevant resources where they can find additional information.

Remember, a strong conclusion should leave a lasting impact and compel the reader to take action. By incorporating these elements and utilizing examples to illustrate key ideas, you can create a compelling conclusion that reinforces the significance of your business plan .

The Power of a Strong Conclusion - Business plan conclusion: Why Your Business Plan'sConclusion Matters More Than You Think

When it comes to summarizing your business plan , it is crucial to understand the significance of the conclusion. This final section serves as a powerful tool to leave a lasting impression on your readers and stakeholders. It encapsulates the key points and highlights the value proposition of your business.

1. Emphasize the main objectives: In this section, you can reiterate the primary goals and objectives of your business plan. By clearly stating what you aim to achieve, you provide a concise overview of your business's purpose.

2. Showcase the unique selling proposition : Highlight the factors that set your business apart from competitors. This could include innovative features, superior customer service , or a differentiated business model. By emphasizing your unique selling proposition , you demonstrate the value your business brings to the market.

3. Discuss market potential: Provide insights into the market size , growth potential, and target audience. explain how your business plan addresses the needs and demands of your target market. Use relevant data and statistics to support your claims.

4. Outline the implementation strategy: Describe the steps you will take to execute your business plan successfully. This could include marketing strategies, operational processes, and resource allocation. By outlining your implementation strategy, you demonstrate your preparedness and ability to turn your plan into action .

5. Highlight financial projections: Summarize the financial forecasts and projections outlined in your business plan. This includes revenue projections, cost analysis, and profitability estimates. Use examples and charts to illustrate the potential financial success of your business.

Remember, the conclusion of your business plan is an opportunity to leave a strong and memorable impression. By effectively summarizing the key elements of your plan and showcasing its value, you can inspire confidence and interest in your business venture.

Summarizing Your Business Plan - Business plan conclusion: Why Your Business Plan'sConclusion Matters More Than You Think

1. Summarize Strategic Objectives:

- The conclusion is your last chance to reiterate the strategic objectives outlined in your business plan. Summarize them succinctly, emphasizing their alignment with your overall vision. Consider this paragraph as a "bird's-eye view" of your plan.

- Example : Imagine you're launching a tech startup . Your strategic objectives might include expanding market reach , enhancing user experience , and achieving profitability. In the conclusion, you'd briefly recap these goals and their significance.

2. highlight Competitive advantages :

- Remind your audience of your unique selling proposition (USP) and competitive advantages. What sets your business apart? Is it cutting-edge technology, exceptional customer service , or a disruptive pricing model?

- Example : A coffee shop's USP could be its ethically sourced beans, cozy ambiance, and personalized service. In the conclusion, emphasize how these factors position your coffee shop for success.

3. Reinforce Financial Viability:

- Investors and stakeholders want assurance that your business is financially viable. Summarize key financial projections, such as revenue forecasts, profit margins, and break-even points.

- Example : If you're seeking funding for a renewable energy project, highlight the projected return on investment (ROI) and the positive impact on the environment .

4. Address risks and Mitigation strategies :

- Acknowledge potential risks and uncertainties . Discuss how you plan to mitigate them. Transparency here builds credibility.

- Example : A software company might face risks related to cybersecurity threats. In the conclusion, mention your robust security protocols and disaster recovery plans .

5. Reiterate market Research findings :

- Remind readers of your market research. Highlight key insights about your target audience , market trends, and growth potential.

- Example : If you're launching a fitness app, emphasize the rising health consciousness among millennials and the increasing demand for virtual workouts.

6. Invoke Emotion and Vision:

- Conclusions aren't just about facts; they're about inspiration. Paint a vivid picture of your business's future. Tap into emotions and aspirations.

- Example : A nonprofit organization working on clean water projects could evoke empathy by describing the impact of their work on a child's life.

7. Call to Action (CTA):

- End with a strong CTA. What do you want your audience to do next? Whether it's investing, partnering, or joining your team, be clear.

- Example : "Join us in revolutionizing healthcare. Invest in our telemedicine platform today!"

Remember, the conclusion isn't an afterthought—it's a powerful tool to leave a lasting impression. Craft it carefully, and watch your business plan resonate with its intended audience.

Reinforcing Key Points - Business plan conclusion: Why Your Business Plan'sConclusion Matters More Than You Think

Inspiring confidence in investors is a crucial aspect of any business plan. It involves showcasing the potential of your business and convincing investors that their investment will yield positive returns. Here are some key points to consider:

1. highlighting the market opportunity : Start by providing a detailed analysis of the market your business operates in. Discuss the size, growth potential, and trends that make it an attractive investment opportunity. Back your claims with relevant data and statistics.

2. Demonstrating a solid business model : Investors want to see a well-defined and sustainable business model . Explain how your company generates revenue, acquires customers, and maintains a competitive advantage. Use real-life examples or case studies to illustrate the effectiveness of your model.

3. Showcasing a strong management team: Investors often invest in people as much as they invest in ideas. Introduce your management team and highlight their expertise, experience, and track record. Emphasize how their skills align with the business goals and how they can navigate challenges effectively.

4. Presenting a compelling value proposition: Clearly articulate the unique value your product or service offers to customers. Explain how it solves a problem or fulfills a need better than existing alternatives. Use customer testimonials or success stories to validate your claims.

5. Providing a realistic financial forecast: Investors need to see a clear path to profitability. Present a detailed financial forecast that includes revenue projections, cost structures, and anticipated growth rates. Be transparent about the assumptions made and provide a realistic assessment of potential risks.

Remember, inspiring confidence in investors requires a comprehensive and well-structured approach. By addressing these key points, you can effectively convey the potential of your business and instill trust in potential investors .

Inspiring Confidence in Investors - Business plan conclusion: Why Your Business Plan'sConclusion Matters More Than You Think

1. understanding the Competitive landscape : Strategic thinking requires a deep understanding of the competitive landscape. By analyzing market trends , competitor strategies, and customer preferences, businesses can identify unique opportunities and position themselves advantageously.

2. setting Clear objectives : Strategic thinking involves setting clear objectives that align with the overall business goals. By defining specific, measurable, achievable, relevant, and time-bound (SMART) objectives, businesses can focus their efforts and resources effectively.

3. identifying risks and Mitigation Strategies: Strategic thinking involves identifying potential risks and developing mitigation strategies. By conducting a thorough risk analysis , businesses can proactively address challenges and minimize their impact on the overall business plan.

4. leveraging Innovation and creativity : Strategic thinking encourages businesses to embrace innovation and creativity. By exploring new ideas, technologies, and approaches, businesses can differentiate themselves from competitors and seize new opportunities in the market .

5. Collaborating and Building Partnerships: Strategic thinking emphasizes the importance of collaboration and partnerships. By fostering relationships with key stakeholders, businesses can leverage collective expertise, resources, and networks to achieve shared goals.

To illustrate these concepts, let's consider an example. Imagine a tech startup aiming to disrupt the ride-sharing industry. In the section on "Demonstrating Strategic Thinking," the startup could discuss how it analyzed the competitive landscape, identified gaps in existing services, and set clear objectives to provide a unique customer experience . Additionally, the section could highlight how the startup mitigated risks by developing robust cybersecurity measures and leveraged innovation by integrating artificial intelligence algorithms to optimize route planning and enhance customer satisfaction. Furthermore, the startup could emphasize its collaborations with local governments and transportation authorities to ensure regulatory compliance and foster trust among users.

By incorporating these diverse perspectives and insights, the section on "Demonstrating Strategic Thinking" within the article effectively explores the nuances of strategic thinking without explicitly stating the section title.

Demonstrating Strategic Thinking - Business plan conclusion: Why Your Business Plan'sConclusion Matters More Than You Think

Addressing potential concerns is a crucial aspect when it comes to the conclusion of a business plan. In this section, we will delve into the nuances and provide comprehensive details without explicitly stating the section title.

1. Anticipating Market Challenges: One potential concern that businesses need to address in their conclusion is the anticipation of market challenges. By acknowledging potential obstacles and demonstrating a proactive approach to overcome them, businesses can instill confidence in investors and stakeholders.

2. mitigating Financial risks : Another important aspect is addressing potential financial risks . This can be done by outlining contingency plans, conducting thorough market research , and showcasing a realistic financial projection. Providing examples of how the business plans to mitigate risks can strengthen the conclusion.

3. Ensuring Scalability: Scalability is a concern for many businesses, especially startups. In this section, it is essential to highlight strategies and measures that will enable the business to scale effectively. This could include discussing partnerships, expansion plans, or innovative approaches to meet growing demands.

4. Addressing Competitive Landscape: Businesses should also address the competitive landscape in their conclusion. By demonstrating a deep understanding of the market and showcasing unique selling propositions, businesses can position themselves as strong contenders in the industry. Providing examples of how the business plans to differentiate itself from competitors can add credibility to the conclusion.

5. incorporating Stakeholder feedback : Lastly, it is important to address potential concerns raised by stakeholders. This could involve incorporating feedback from market research , customer surveys, or focus groups. By showing that the business has actively listened to stakeholders and made necessary adjustments, the conclusion can reflect a customer-centric approach .

Remember, addressing potential concerns in the conclusion of a business plan is crucial for instilling confidence and demonstrating a thorough understanding of the market. By incorporating diverse perspectives, utilizing numbered lists, and providing relevant examples, businesses can create a comprehensive section that effectively addresses potential concerns.

Addressing Potential Concerns - Business plan conclusion: Why Your Business Plan'sConclusion Matters More Than You Think

setting clear goals for the future is a crucial aspect of any business plan. It allows businesses to define their direction, prioritize their efforts, and measure their progress. Here are some key points to consider:

1. Vision and Mission: Clearly articulate the long-term vision and mission of your business. This provides a guiding framework for setting goals and making strategic decisions .

2. SMART Goals: Ensure that your goals are Specific, Measurable, Achievable, Relevant, and Time-bound. This framework helps to create clear and actionable objectives.

3. Prioritization: Identify the most important goals that align with your business's strategic priorities. Focus on goals that have the highest impact on your overall success.

4. Breakdown into Milestones: Divide your goals into smaller milestones or targets. This allows for better tracking of progress and provides a sense of accomplishment along the way.

5. Accountability and Ownership: Assign responsibility for each goal to specific individuals or teams. This promotes accountability and ensures that progress is actively monitored.

6. Flexibility and Adaptability: Recognize that goals may need to be adjusted or revised based on changing circumstances. Stay agile and be open to modifying goals as needed.

7. Communication and Alignment: Clearly communicate goals to all stakeholders, including employees, investors, and partners. This fosters alignment and ensures everyone is working towards the same objectives.

Remember, setting clear goals is not a one-time activity. Regularly review and reassess your goals to ensure they remain relevant and aligned with your business's evolving needs. By setting clear goals, you provide a roadmap for success and increase the likelihood of achieving your desired outcomes.

Setting Clear Goals for the Future - Business plan conclusion: Why Your Business Plan'sConclusion Matters More Than You Think

When it comes to leaving a lasting impression , it is crucial to understand the significance of a business plan's conclusion. This final section serves as a powerful tool to reinforce your key messages and make a memorable impact on your audience. Here are some insights to consider:

1. Summarize the main points: Begin by succinctly summarizing the key elements of your business plan . Highlight the unique value proposition, market analysis, competitive advantage, and financial projections. This summary acts as a reminder of the core ideas presented throughout the plan.

2. Reinforce your vision: Use this section to reiterate your long-term vision and goals . Emphasize how your business aligns with market trends and customer needs. By reinforcing your vision, you create a sense of purpose and inspire confidence in your stakeholders.

3. Showcase success stories: Share success stories or case studies that demonstrate the effectiveness of your business model . Highlight how your product or service has positively impacted customers or solved specific pain points. These examples provide tangible evidence of your capabilities and build credibility.

4. Address potential concerns: Anticipate and address potential concerns or objections that your audience may have. By proactively acknowledging and providing solutions to these concerns, you demonstrate your preparedness and commitment to overcoming challenges.

5. Call to action: End the conclusion with a compelling call to action . Encourage your audience to take the next step, whether it's investing in your business, partnering with you, or becoming a customer. Make it clear how they can get involved and benefit from the opportunities your business offers.

Remember, leaving a lasting impression requires a thoughtful and strategic approach. By incorporating these elements into your business plan's conclusion, you can effectively engage your audience and leave them with a strong and memorable impression.

Leaving a Lasting Impression - Business plan conclusion: Why Your Business Plan'sConclusion Matters More Than You Think

Taking action based on your conclusion is a crucial aspect of any business plan. It involves analyzing the findings and insights gathered throughout the planning process and using them to make informed decisions. Here are some key points to consider:

1. Evaluate the feasibility: Once you have reached a conclusion, it is essential to assess the feasibility of your plan. Consider factors such as market conditions , competition, and available resources. This evaluation will help determine if your conclusion aligns with the practicality of implementing the proposed strategies.

2. Develop an implementation strategy: To effectively take action, you need a well-defined implementation strategy. This involves breaking down your conclusion into actionable steps and assigning responsibilities to team members. By creating a roadmap, you can ensure that everyone is on the same page and working towards the same goals.

3. Set measurable goals: It is important to set clear and measurable goals that align with your conclusion. These goals will serve as benchmarks to track progress and evaluate the success of your actions. By defining specific metrics, you can monitor the effectiveness of your strategies and make adjustments if needed.

4. Allocate resources: Taking action requires allocating the necessary resources. This includes financial resources, manpower, technology, and any other assets required to execute your plan. By properly allocating resources , you can ensure that your actions are adequately supported and have the best chance of success.

5. Monitor and adapt: Once you have implemented your strategies, it is crucial to monitor their performance and make adjustments as needed. Regularly evaluate the outcomes and compare them to your goals. If necessary, be prepared to adapt your approach to optimize results and address any unforeseen challenges.

To illustrate these concepts, let's consider an example. Imagine you have concluded that expanding your product line is a viable strategy based on market research and customer feedback . To take action, you would develop a detailed implementation plan, set goals such as increasing sales by 20% within the next year, allocate resources for product development and marketing, and closely monitor the sales performance to ensure the desired outcomes are achieved.

Remember, taking action based on your conclusion is a dynamic process that requires continuous evaluation and adjustment. By following these steps, you can effectively translate your conclusions into tangible results for your business.

Taking Action Based on Your Conclusion - Business plan conclusion: Why Your Business Plan'sConclusion Matters More Than You Think

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What Is a Business Plan?

Understanding business plans, how to write a business plan, common elements of a business plan, the bottom line, business plan: what it is, what's included, and how to write one.

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and behavioral finance. Adam received his master's in economics from The New School for Social Research and his Ph.D. from the University of Wisconsin-Madison in sociology. He is a CFA charterholder as well as holding FINRA Series 7, 55 & 63 licenses. He currently researches and teaches economic sociology and the social studies of finance at the Hebrew University in Jerusalem.

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A business plan is a document that outlines a company's goals and the strategies to achieve them. It's valuable for both startups and established companies. For startups, a well-crafted business plan is crucial for attracting potential lenders and investors. Established businesses use business plans to stay on track and aligned with their growth objectives. This article will explain the key components of an effective business plan and guidance on how to write one.

Key Takeaways

A business plan is a document detailing a company's business activities and strategies for achieving its goals.
Startup companies use business plans to launch their venture and to attract outside investors.
For established companies, a business plan helps keep the executive team focused on short- and long-term objectives.
There's no single required format for a business plan, but certain key elements are essential for most companies.

Investopedia / Ryan Oakley

Any new business should have a business plan in place before beginning operations. Banks and venture capital firms often want to see a business plan before considering making a loan or providing capital to new businesses.

Even if a company doesn't need additional funding, having a business plan helps it stay focused on its goals. Research from the University of Oregon shows that businesses with a plan are significantly more likely to secure funding than those without one. Moreover, companies with a business plan grow 30% faster than those that don't plan. According to a Harvard Business Review article, entrepreneurs who write formal plans are 16% more likely to achieve viability than those who don't.

A business plan should ideally be reviewed and updated periodically to reflect achieved goals or changes in direction. An established business moving in a new direction might even create an entirely new plan.

There are numerous benefits to creating (and sticking to) a well-conceived business plan. It allows for careful consideration of ideas before significant investment, highlights potential obstacles to success, and provides a tool for seeking objective feedback from trusted outsiders. A business plan may also help ensure that a company’s executive team remains aligned on strategic action items and priorities.

While business plans vary widely, even among competitors in the same industry, they often share basic elements detailed below.

A well-crafted business plan is essential for attracting investors and guiding a company's strategic growth. It should address market needs and investor requirements and provide clear financial projections.

While there are any number of templates that you can use to write a business plan, it's best to try to avoid producing a generic-looking one. Let your plan reflect the unique personality of your business.

Many business plans use some combination of the sections below, with varying levels of detail, depending on the company.

The length of a business plan can vary greatly from business to business. Regardless, gathering the basic information into a 15- to 25-page document is best. Any additional crucial elements, such as patent applications, can be referenced in the main document and included as appendices.

Common elements in many business plans include:

Executive summary : This section introduces the company and includes its mission statement along with relevant information about the company's leadership, employees, operations, and locations.
Products and services : Describe the products and services the company offers or plans to introduce. Include details on pricing, product lifespan, and unique consumer benefits. Mention production and manufacturing processes, relevant patents , proprietary technology , and research and development (R&D) information.
Market analysis : Explain the current state of the industry and the competition. Detail where the company fits in, the types of customers it plans to target, and how it plans to capture market share from competitors.
Marketing strategy : Outline the company's plans to attract and retain customers, including anticipated advertising and marketing campaigns. Describe the distribution channels that will be used to deliver products or services to consumers.
Financial plans and projections : Established businesses should include financial statements, balance sheets, and other relevant financial information. New businesses should provide financial targets and estimates for the first few years. This section may also include any funding requests.

Investors want to see a clear exit strategy, expected returns, and a timeline for cashing out. It's likely a good idea to provide five-year profitability forecasts and realistic financial estimates.

2 Types of Business Plans

Business plans can vary in format, often categorized into traditional and lean startup plans. According to the U.S. Small Business Administration (SBA) , the traditional business plan is the more common of the two.

Traditional business plans : These are detailed and lengthy, requiring more effort to create but offering comprehensive information that can be persuasive to potential investors.
Lean startup business plans : These are concise, sometimes just one page, and focus on key elements. While they save time, companies should be ready to provide additional details if requested by investors or lenders.

Why Do Business Plans Fail?

A business plan isn't a surefire recipe for success. The plan may have been unrealistic in its assumptions and projections. Markets and the economy might change in ways that couldn't have been foreseen. A competitor might introduce a revolutionary new product or service. All this calls for building flexibility into your plan, so you can pivot to a new course if needed.

How Often Should a Business Plan Be Updated?

How frequently a business plan needs to be revised will depend on its nature. Updating your business plan is crucial due to changes in external factors (market trends, competition, and regulations) and internal developments (like employee growth and new products). While a well-established business might want to review its plan once a year and make changes if necessary, a new or fast-growing business in a fiercely competitive market might want to revise it more often, such as quarterly.

What Does a Lean Startup Business Plan Include?

The lean startup business plan is ideal for quickly explaining a business, especially for new companies that don't have much information yet. Key sections may include a value proposition , major activities and advantages, resources (staff, intellectual property, and capital), partnerships, customer segments, and revenue sources.

A well-crafted business plan is crucial for any company, whether it's a startup looking for investment or an established business wanting to stay on course. It outlines goals and strategies, boosting a company's chances of securing funding and achieving growth.

As your business and the market change, update your business plan regularly. This keeps it relevant and aligned with your current goals and conditions. Think of your business plan as a living document that evolves with your company, not something carved in stone.

University of Oregon Department of Economics. " Evaluation of the Effectiveness of Business Planning Using Palo Alto's Business Plan Pro ." Eason Ding & Tim Hursey.

Bplans. " Do You Need a Business Plan? Scientific Research Says Yes ."

Harvard Business Review. " Research: Writing a Business Plan Makes Your Startup More Likely to Succeed ."

Harvard Business Review. " How to Write a Winning Business Plan ."

U.S. Small Business Administration. " Write Your Business Plan ."

SCORE. " When and Why Should You Review Your Business Plan? "

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How to Give a Budget Report

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Whether you’ve written a business report to inform your staff of impending changes at the workplace or to explain a major decision, the report must be clear and concise and provide enough detail to forestall questions. That’s why it’s so important to conclude your report with authority.

How you end a business report will leave a lasting impression on the reader and enhance your chance of meeting your goal in writing the report. If your goal is to seek funding or an operating change at work, or if you wish to request something specific, conclude on a positive note that shows your readers you have their needs in mind and can provide a benefit.

Summarize the Contents

The most effective way to communicate a message is to give that message in detail and then summarize or recap the message that you just expressed. One of the key aspects of a business report conclusion is summarizing the information for your reader. Your summary should mirror your opening or executive summary, recapping highlights that lead to a conclusion.

Avoid details, because you’ve already provided them in your report and can make assumptions the reader will accept. Highlight only the key points that summarize your main pieces of information, which might include new, important facts, projections or a justification for the reader. Most importantly, don’t introduce any information in the conclusion that wasn’t in the actual report because this may confuse your reader.

Offer a Brief Action Plan

After you’ve summarized the contents, it’s important that you provide an action plan or recommendation based on the information in the report. This doesn’t have to be super specific, but it should give the reader a general overview of your assessments about the report, and some of the steps necessary to accomplish a task, fix a problem or implement a solution.

For example, if your report concerns the possible acquisition of another company, you could write, “Based on the findings of this report, I recommend that we analyze XYZ’s financial statements for the past three years, and if we find them to be acceptable, set up a meeting with the board of directors to present our acquisition plan.”

Make a Subjective Statement

If the purpose of your report is to provide more than just a list of facts and figures, tell the reader why the facts you have just presented are important. After you have laid out the specifics in a report on a new competitor, point out how the competitor might affect your sales and suggest ways to deal with the new threat.

Show a Benefit

Let the reader know that there is a payoff in reading your report and following your recommendations. Tell the reader what to do with the information you've presented and why it benefits her. If you are requesting funding for a project or to be sent to a seminar or workshop, tell the reader what she will get out of investing with you or spending company funds to send you on a business trip. For example, while a business seminar might cost the company $1,000, the specific skills you learn might help you decrease $50,000 in current spending or increase revenues by $100,000.

Include Supporting Data

After the written portion of a business report, include an appendix with charts, graphs, a budget, photos and other support documents that help strengthen your case. Providing this information in the body of your report might make reading the report too laborious or boring. Conclude business reports with objective documents that show you have done your homework and that your facts, conclusions and recommendations are supported by objective research.

Oxford University Press: Structuring a Business Report
Victoria University of Wellington: How to Write a Business Report

Sampson Quain is an experienced content writer with a wide range of expertise in small business, digital marketing, SEO marketing, SEM marketing, and social media outreach. He has written primarily for the EHow brand of Demand Studios as well as business strategy sites such as Digital Authority.

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How to Write Recommendations in Research | Examples & Tips

How to Write Recommendations in Research | Examples & Tips

Published on September 15, 2022 by Tegan George . Revised on July 18, 2023.

Recommendations in research are a crucial component of your discussion section and the conclusion of your thesis , dissertation , or research paper .

As you conduct your research and analyze the data you collected , perhaps there are ideas or results that don’t quite fit the scope of your research topic. Or, maybe your results suggest that there are further implications of your results or the causal relationships between previously-studied variables than covered in extant research.

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What should recommendations look like, building your research recommendation, how should your recommendations be written, recommendation in research example, other interesting articles, frequently asked questions about recommendations.

Recommendations for future research should be:

Concrete and specific
Supported with a clear rationale
Directly connected to your research

Overall, strive to highlight ways other researchers can reproduce or replicate your results to draw further conclusions, and suggest different directions that future research can take, if applicable.

Relatedly, when making these recommendations, avoid:

Undermining your own work, but rather offer suggestions on how future studies can build upon it
Suggesting recommendations actually needed to complete your argument, but rather ensure that your research stands alone on its own merits
Using recommendations as a place for self-criticism, but rather as a natural extension point for your work

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There are many different ways to frame recommendations, but the easiest is perhaps to follow the formula of research question conclusion recommendation. Here’s an example.

Conclusion An important condition for controlling many social skills is mastering language. If children have a better command of language, they can express themselves better and are better able to understand their peers. Opportunities to practice social skills are thus dependent on the development of language skills.

As a rule of thumb, try to limit yourself to only the most relevant future recommendations: ones that stem directly from your work. While you can have multiple recommendations for each research conclusion, it is also acceptable to have one recommendation that is connected to more than one conclusion.

These recommendations should be targeted at your audience, specifically toward peers or colleagues in your field that work on similar subjects to your paper or dissertation topic . They can flow directly from any limitations you found while conducting your work, offering concrete and actionable possibilities for how future research can build on anything that your own work was unable to address at the time of your writing.

See below for a full research recommendation example that you can use as a template to write your own.

If you want to know more about AI for academic writing, AI tools, or research bias, make sure to check out some of our other articles with explanations and examples or go directly to our tools!

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While it may be tempting to present new arguments or evidence in your thesis or disseration conclusion , especially if you have a particularly striking argument you’d like to finish your analysis with, you shouldn’t. Theses and dissertations follow a more formal structure than this.

All your findings and arguments should be presented in the body of the text (more specifically in the discussion section and results section .) The conclusion is meant to summarize and reflect on the evidence and arguments you have already presented, not introduce new ones.

The conclusion of your thesis or dissertation should include the following:

A restatement of your research question
A summary of your key arguments and/or results
A short discussion of the implications of your research

For a stronger dissertation conclusion , avoid including:

Important evidence or analysis that wasn’t mentioned in the discussion section and results section
Generic concluding phrases (e.g. “In conclusion …”)
Weak statements that undermine your argument (e.g., “There are good points on both sides of this issue.”)

Your conclusion should leave the reader with a strong, decisive impression of your work.

In a thesis or dissertation, the discussion is an in-depth exploration of the results, going into detail about the meaning of your findings and citing relevant sources to put them in context.

The conclusion is more shorter and more general: it concisely answers your main research question and makes recommendations based on your overall findings.

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Business Plan: Coffee Shop Report

To find inspiration for your paper and overcome writer’s block
As a source of information (ensure proper referencing)
As a template for you assignment

Executive Summary

Introduction of coffee shop business plan, market feasibility, technical feasibility, financial feasibility, human resource feasibility, conclusion for coffee shop business plan.

Wondering how to write an introduction or conclusion of coffee shop business plan? Check out this essay example! Here, you will find a complete business plan: coffee shop goals and objectives, recommendations, and features that make it successful. Write a great coffee shop report with the help of our example!

Our new coffee shop will be situated in Melbourne. The business will target only female clients. The hotel will concentrate on gaining the allegiance of customers by providing them with an unparalleled experience of coffee beverage services. The cafe will offer many crafted dishes to fulfill our clients’ banquet, lunch, and supper desires. Our menu will comprise of omelets, benedicts, toasted bread, and toasties.

The article below focuses on a coffee shop’s business plan. The café will be registered as a sole proprietorship. It will be wholly owned and operated by one entrepreneur. The cafe will be established in the city of Melbourne.

What is the size of the market?

In Melbourne and its neighboring cities, coffee shop industry is estimated to generate revenue worth $4.78 billion annually (David 2015). The business is large and varied. Over the last few years, the number of coffee shops and cafes has increased.

What is the growth rate of the industry?

The industry’s revenues are expected to increase by 7.3% annually for the next two years (Hunter 2015). The increase has been boosted by growing incomes and the citizens’ unceasing love for quality coffee.

Is the market at full capacity?

We are predominantly interested in a coffee café because currently there are a few businesses that offer these services. Therefore, our venture aims to fill this market gap by delivering exceptional beverage services.

Where are our customers getting the product now?

The leading coffee cafes in Melbourne include Auction Rooms, Three Bags Full, Hardware Sociate, Di Bella Roasting Warehouse, Market Lane, Proud Mary, and Sensory Lab (Purnama 2013). All these cafes offer services to both male and female clients. We expect to face competition from these shops and other medium food kiosks spread across the city of Melbourne. The other competitors are restaurants and food stalls that offer beverage services.

Where are the customers?

We will target female clients who work or study in regions around Melbourne. The city currently has a population of 4.35 million people (Johnny 2015). Half of these residents are women. In the future, the population is expected to increase to surpass that of Sydney. The main reason for positioning itself in this segment is that the business has the opportunity of incorporating new features to the existing services to cater for the changing demands and needs of our targeted customers. We will offer our services to females. Through this, we will differentiate our services from our competitors.

To gain a competitive advantage over our competitors, we will differentiate our products and services (Agnihotri 2015). One major way of fulfilling the above is through value addition. We will focus on improving our beverages’ package to enhance their aesthetic appeal. All drinks and snacks will be packed and served in impressive food packages designed to surpass our customers’ expectations.

We will only offer services to female clients to differentiate ourselves from our rivals. In Melbourne, a few coffee shops focus on particular communities such as religious, age, sex, or political minorities. If our café focuses on specializing in satisfying only women’s community, we will attract many clients and enhance our market share. The market segment presents an opportunity for the business.

How many would purchase from you?

With increased government expenditure, vibrant tourism, transport, and trade in the region, our business will be favorable and convenient to many women. An increase in government expenditure implies that there is more money in circulation, and more people can afford to enjoy the food services at our business center (Kwek 2015). We expect to serve up to 300 clients in a day.

What external factors come to bear? Government, Industry Dynamics

An important external factor that will affect our business is government regulations. We will have to satisfy all the standards required by the local governments.

How long will this opportunity last in the market?

Our projections indicate that during our earlier years of operation, we will experience less competition because we will only focus on female clients. However, competition is expected to increase in the future because we have a window period of two years. Over time, several players will enter the market eating into our company’s customers. Because of this, our company will experience enormous pressure from the new entrants. Such risks put pressure on our business’ future success. The above imply that we must always differentiate our products and services from those offered by our competitors. If we fail to do so, our rivals will fill the gap and gain an advantage over the company.

What keeps new competition from entering this market?

A threat faced by new entrants has been the inability to adapt to the ever changing service features and standards required by the clients. Another threat that prevents new competitors in the industry is competition from established rivals.

In the first months of our operation, we plan to focus on understanding the thoughts, desires, and behaviors of our clients. Through this, we will be able to come up with the appropriate targeting and positioning techniques in future. Equally, the chance will enable the business to identify efficient and reliable marketing channels to be utilized in the future.

Options for developing the technology

Our café will be registered as a sole proprietorship. The shop will be wholly owned and operated by five entrepreneurs. The cafe will be established in the city of Melbourne. The coffee shop will serve clients throughout the week as indicated below:

Monday	11:00 am – 9:00 pm
Tuesday	11:00 am – 9:00 pm
Wednesday	11:00 am – 9:00 pm
Thursday	11:00 am – 9:00 pm
Friday	11:00 am – 10:00 pm
Saturday	11:00 am – 10:00 pm
Sunday	12:00 pm– 5:00 pm

Options for producing the product or service

Our products and services will be generated in house. Equally, we will utilize the same approach in our sales and distribution. As such, we expect our clients to visit our establishment. There will be no outside catering services. With increased turnover for startup cafes, the owners are expected to offer their skills and labor to fill in where required until the business starts to generate profits.

Options for sales and distribution

To reach our customers, we will utilize some approaches. Advertising will be our primary marketing strategy. We will create a series of television, the internet, and technology advertisement platforms. Through this, we will subcontract these functionalities to other firms. The firms will comprise of individuals knowledgeable in product information as well as customer service. Through social media, we will encourage more potential clients to access our services. The social media will also enable us to interact with potential customers to understand their expectations

Resources required for development

With respect to our limited inexperience in the industry, we will collaborate with reputable and competent suppliers. The vendors will offer sensibly priced products. The merchandise will be delivered according to an approved time timetable. The cost of establishing the shop is $363,000. The majority of the expenses will be used in purchasing the raw materials including furniture fixtures. Raw materials to be used at the café will be sourced from experienced suppliers. They include kitchenware, food processors, utensils, dishwasher, clothing, and stainless steel tables.

The laws and regulation relating to the business

Before opening our enterprise, we will obtain accreditation from relevant business licensing regulators in Melbourne. Similarly, we will get a permit that will illustrate that our company will work towards environment conservation.

Any moral or ethical issues that you are uncomfortable with

Our research identified that ethical issues of workers being mistreated by their supervisors are prevalent in the hospitality industry. The business will formulate and implement appropriate ethical cultures to prevent such incidences. The code of ethics should articulate the accepted standards. Similarly, ethical culture will be enhanced by all levels of supervision.

Technological changes are changing or emerging that may affect the business

During our research, we noted that a significant threat faced by coffee shops and other beverage outlets is speedy technological transformations. Many clients enjoy cafes with the latest technological facilities such as Wifi access. The threat puts pressure on the company’s future success. Every year, we will be required to adopt new technologies to be ahead of our rivals. If we fail to do so, our competitors will fill the gap and gain an advantage over our company.

Projected revenues from sales of our products and services

The table below illustrates the expected sales volume in units sold and in dollars sold. Our approximate selling price per unit is $ 11.37. The expected revenues are indicated below.


Sales
Food and Beverage Revenues	$1,028,422	$1,079,843	$1,133,835
Additional Revenues	$0	$81,600	$102,000
Total Sales	$1,028,422	$1,161,443	$1,235,835
Controllable Costs
COGS	$402,113	$414,176	$426,602
Payroll	$269,987	$323,057	$340,027
	$672,100	$737,234	$766,628
	$356,322	$424,209	$469,207

Financial dynamics and opportunities

Indicated below are the cost structures illustrated based on unit basis:

Price per unit minus is $11.37
Variable costs are estimated to be $4.51 per meal
Gross margin per unit minus is 44.90
Fixed costs per unit are 48.0
Net margin per unit is 8.0%

Indicated below is the income statement used in the calculations:



Sales	$1,028,422	$1,161,443	$1,235,835
Cost of Goods Sold	($402,113)	($414,176)	($426,602)
Gross Profit	$626,309	$747,267	$809,234

Accounting / Legal	$12,000	$12,360	$12,731
Bad Debts	$25,711	$26,482	$27,276
Shrinkage	$90,000	$92,700	$95,481
Credit Card Fees	$20,568	$21,185	$21,821
Insurance	$75,000	$77,250	$79,568
Miscellaneous	$44,112	$45,435	$46,798
Payroll Taxes	$0	$0	$0
Permits and Licenses	$7,356	$7,577	$7,804
Rent	$68,000	$70,040	$72,141
Salaries	$12,341	$12,711	$13,093
Wages	$269,987	$323,057	$340,027
Total Expenses	$625,075	$688,798	$716,739
Net Profit	$1,234	$58,469	$92,494

Is the project worthwhile financially?

Indicated below are assumptions utilized in our financial plan

Meal Price ranges from $8.00 – $15.00
Average lunch price is 8.79
Average dinner price is13.74
The restaurant is located in the Melbourne City

Gross margin 45% and net profit are 8.0%. The figures indicate that the venture is economically viable. Below is a 1-year monthly cash flow statement:

How much investment is required and how they will be used



Buildings/real estate	$ –
Leasehold improvements	$ 50,000
One time assets and startup expenses	$110,500
Location/administration expenses	$ 14,800
Initial inventories	$ –
Advertising/promotional expenses	$ 4,000
Legal expenses	$ 1,200
Experts	$ 10,000
Operating expenses prior break even	$172,500

Financial risk

Total fixed costs linked with the coffee shop are $669,186. They represent yearly expenses. The variable cost is $ 4.51 for each meal. The breakeven revenue will be $1,108,970. It equals to 97,535 meals. We would not get better returns elsewhere, so we better invest in the shop. I will have to give up my mortgage to finance the project. The return of investment is $1, 229,334 after three years. The above illustrations are indicated in the table below:







0	$0	$669,186	$0	$669,186	-$669,186
13,934	$158,424	$669,186	$62,826	$732,012	-$573,588
27,867	$316,849	$669,186	$125,653	$794,839	-$477,990
41,801	$475,273	$669,186	$188,479	$857,665	-$382,392
55,734	$633,697	$669,186	$251,306	$920,492	-$286,794
69,668	$792,122	$669,186	$314,132	$983,318	-$191,196
83,601	$950,546	$669,186	$376,958	$1,046,144	-$95,598
97,535	$1,108,970	$669,186	$439,785	$1,108,971	$0
111,468	$1,267,395	$669,186	$502,611	$1,171,797	$95,598
125,402	$1,425,819	$669,186	$565,438	$1,234,624	$191,196
139,335	$1,584,243	$669,186	$628,264	$1,297,450	$286,793
153,269	$1,742,668	$669,186	$691,090	$1,360,276	$382,391
167,202	$1,901,092	$669,186	$753,917	$1,423,103	$477,989
181,136	$2,059,517	$669,186	$816,743	$1,485,929	$573,587
195,070	$2,217,941	$669,186	$879,570	$1,548,756	$669,185
209,003	$2,376,365	$669,186	$942,396	$1,611,582	$764,783
222,937	$2,534,790	$669,186	$1,005,222	$1,674,408	$860,381

Sources of funds

The money needed will be sourced as shown in the table below. There are higher chances that we are going to get all the money required for the project. We will have to sacrifice money needed for other investments to attain our objectives.



Owners’ and other investments	$174,000
Bank loans	$189,000
Other loans	$ –
	$363,000

What technical and management experience is required?

The business will hire 20 employees. They will comprise of two managers and subordinate staff. The managers will be needed to have more than three years of experience in a similar environment.

The technical team should have at least one year of experience. Together, the management team will select every applicant. We have implemented an up-to-date interview procedure. The process will staff the coffee café with highly experienced persons for every position. Every candidate will be evaluated and ranked based on a pre-defined set of values intended for each vacancy. Hiring efforts will focus on recommendations.

Who are the owners and what are their roles?

The restaurant’s management team will comprise of the owner, the manager, and technical expert. The owner has a restaurant career. He has served for over 20 years in the foodservice industry. He will be the general manager of the business. The manager will oversee smooth operation of the facility.

As such, the hotel manager will manage the overall undertakings like hiring and making financial arrangements. The manager will report to the owner of the shop. A technical expert will direct every functional group. As such, the technical expert will ensure that all installations in the shop are up and working. The supervisor reports to the general manager.

What is the ownership structure?

The organizational fabric of the shop will represent a corporate divisional order. The divisional order will be predominant service sections of the cafe. They include housekeeping segment, food and beverage section, concierge block, and front desk management. For instance, the prominent sectors of the enterprise will be separated into semi-autonomous bodies. The smaller sections will be apportioned to a particular field of service.

Every semi-autonomous will have a group head. As such, the group leader will be selected as the managing officer of that particular segment. At the top of the hierarchy will be the hotel manager. The present-day economic conditions in the beverage industry are characterized by increased competition.

In this regard, the coffee shop will adopt the above organizational structure to save on the cost of operation. The organizational structure has many advantages. Through this structure, every section functions effectively for the reason that they are centered on certain precise task. By doing so, the shop will be able to enhance the output of every section.

What are the labor requirements?

Attracting, inspiring, and retaining a skilled workforce is significant and often challenging for today’s businesses (Hazelton 2014). Appropriate staffing measures will aid our coffee shop intensify the satisfaction of its workers, reduce recruiting costs and increase the hotel’s productivity.

In this regard, the business has put in place appropriate sourcing policies that attract a diverse variety of high-performing candidates. We have also implemented a transparent hiring procedure, which guarantees objective selection using pertinent criteria. Through this, the company will attract competitive and competent candidates. Our orientation processes guarantee that new employees are informed about the business’ values, objectives, key policies, and measures.

The shop will offer a positive working environment for its staff. Through this, the business will be able to attract and retain qualified workers. A positive work environment enables the employees to undertake their roles without challenges. Thus, the productivity of the cafe will increase.

Similarly, the business should identify, compensate, and support the right behavior to attract and retain a competent workforce. Through this, the worker’s morale will be boosted. By involving and engaging the employees, the shop will be able to motivate its workforce. As such, individuals are more dedicated and involved if they are allowed to add their thoughts and proposals towards the improvement of the business.

Equally, the firm will adopt fun in the workplace to motivate the employees. The initiative will enable the employees develop a positive staff culture, boost their morale and motivation, and enhance employer and employee relationship. Likewise, the approach will improve teamwork, increase employee satisfaction, help attract and retain the best people, and improve customer satisfaction. The initiative will also enhance creativity and problem solving, resolve conflict and difficult issues, and augment productivity and performance.

Likewise, the hotel manager will come up with policies that encourage relationship among the employees. Through building relationship among the employees, the managers will enable the employees to understand and appreciate each other’s social, religious, or racial background (Stafford 2013). They will be achieved by offering the employees with regular seminars, workshops, and other social events. Through this, they will get to know one another better enhancing mutual respect.

The managers acknowledge that recruitment and hiring of new employees contribute to the increase in operating costs. Therefore, the business has adopted a competitive reward scheme to reduce the employee turnover. Because the firm is aiming to be among the top coffee shop in Melbourne, its reward system is expected to be competitive.

As such, the reward scheme will indicate the individuals to be awarded and the reason behind the rewards. The practice will enhance individual performance and firm’s outcomes. The reward system will balance with the organization’s culture.

To enhance and maintain quality, the cafe’s executives will implement performance measurement strategies (Carlson 2013). The shop will adopt quality and time performance measures. Quality performance test will assess the value of the services rendered by the employees. Equally, time performance will determine the period it takes the employees to perform their services.

The hotel will undertake the above assessment regularly to enhance the efficiency of the performance measures. Changes in performance measures and requirements related to increasing the competency-base of workers to meet global requirements will also be monitored. Therefore, the cafe will implement a culture of accountability.

Similarly, they will focus on results. When goals and visions are brought into line with organizational accountability, the administration can hold employees answerable for their tasks. Equally, performance measures will encourage workers to accomplish the lounge’s goals, missions, and objectives.

What is the company’s growth strategy?

The shop’s organizational culture will change as the business grows. The appropriate succession planning measure will be instituted to recognize and develop internal staff with the possibility to fill future vacancy positions in the cafe (Catherine 2014). The process is the most efficient and appropriate way of filling organization’s vacancies.

Through this approach, the shop will reduce its recruitment costs and orientation training expenses and time. The approach will offer employees with abilities to advance their career through regular training. As a result, employees will progressively develop and advance their careers. Through career advancement, workers’ morale will be enhanced enabling them to dispense their knowledge and capabilities effectively. By improving on the workforce’s morale, the business will increase its productivity leading to an increase in returns.

In conclusion, it should be noted that the cost of establishing the shop is $363,000. The majority of the expenses will be used in purchasing the raw materials including furniture fixtures. The business will target only female clients. As such, the coffee bar will offer many crafted dishes.

Start-up Expenditures and Expenses Worksheet

SWOT analysis

Agnihotri, A. 2015, ‘Extending boundaries of Blue Ocean Strategy’, Journal of Strategic Marketing , vol. 32, no. 8, pp.1-10.

Carlson, K. 2013, ‘Designing Business Training for Fun and Results’, Performance Improvement , vol. 52, no. 9, pp. 45-46.

Catherine, F. 2014, ‘Sustainable cultures: Engaging employees in creating more sustainable workplaces and work styles’, Facilities, vol. 32, no. 8, pp. 438-454.

David, B. 2015, Coffee culture in Australia . Web.

Hazelton, S. 2014, ‘Positive emotions boost employee engagement: Making work funbrings individual and organizational success’, Human Resource Management International Digest, vol. 22, no. 1, pp. 34-37.

Hunter, B. 2015, Melbourne CBD, Melbourne . Web.

Johnny Y. 2015, Start a new business/Café Business . Web.

Kwek, G. 2015, Australia makes its mark on global coffee culture . Web.

Purnama, M. 2013, Melbourn Top 10 Cafes . Web.

Stafford, K. 2013, ‘Does Fun Pay? The Impact of Workplace Fun on Employee Turnover and Performance’, Cornell Hospitality Quarterly , vol. 54, no. 4, pp. 370-382.

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IvyPanda. (2019, June 3). Business Plan: Coffee Shop Report. https://ivypanda.com/essays/business-plan-coffee-shop/

"Business Plan: Coffee Shop Report." IvyPanda , 3 June 2019, ivypanda.com/essays/business-plan-coffee-shop/.

IvyPanda . (2019) 'Business Plan: Coffee Shop Report'. 3 June.

IvyPanda . 2019. "Business Plan: Coffee Shop Report." June 3, 2019. https://ivypanda.com/essays/business-plan-coffee-shop/.

1. IvyPanda . "Business Plan: Coffee Shop Report." June 3, 2019. https://ivypanda.com/essays/business-plan-coffee-shop/.

Bibliography

IvyPanda . "Business Plan: Coffee Shop Report." June 3, 2019. https://ivypanda.com/essays/business-plan-coffee-shop/.

More From Forbes

Why A Thoughtful Business Plan Is Essential For Success

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Starting a business is an exciting journey, full of opportunities and challenges. For women entrepreneurs, particularly those transitioning from corporate life to entrepreneurship, the path can feel daunting. But with the right roadmap (a well-thought-out business plan), you can navigate the uncertainties and set your business up for success.

A business plan is more than just a document; it's your blueprint for building and growing your business. It outlines your goals, strategies, and the steps you need to take to achieve them. A strong business plan not only guides your decisions but also communicates your vision to potential investors, partners, and employees.

Here’s why a business plan is crucial and how you can create one that will steer your business toward success.

The Importance of a Well-Thought-Out Business Plan

1. clarifies your vision and objectives.

As you build out your business plan it forces you to think deeply about your business idea and if it’s a viable idea. What exactly are you trying to achieve? What are your short-term and long-term goals? By putting these thoughts on paper, you create a clear vision that will guide every decision you make.

2. Helps You Understand Your Market

Researching and writing a business plan requires you to analyze your market. Who are your competitors? Who is your target audience? What are the market trends? This understanding helps you position your business strategically and identify opportunities for growth.

Best High-Yield Savings Accounts Of 2024

Best 5% interest savings accounts of 2024, 3. defines your strategy.

A business plan includes your marketing strategy, sales approach, and operational plan and outlines how you will achieve objectives. This strategic framework ensures that your efforts are aligned and focused on achieving your goals.

4. Secures Funding

If you need financial support to start or grow your business, a well-prepared business plan is essential. Investors and lenders want to see a clear plan for how you will generate revenue and repay any loans. A business plan that demonstrates a thorough understanding of your industry and a solid strategy is more likely to attract funding.

5. Guides Your Decision-Making

A business plan serves as a reference point, helping you make informed decisions that align with your long-term goals. By consistently referring to your business plan, you ensure that every decision contributes to the overarching vision and objectives of your business, ultimately driving growth and success.

6. Tracks Your Progress

A business plan includes milestones and key performance indicators (KPIs) that allow you to track your progress. Regularly reviewing your business plan helps you stay on course, adjust your strategies as needed, and celebrate your successes.

The bottom line is that creating a business plan is a crucial step in turning your entrepreneurial dreams into reality. It’s your roadmap, guiding you through the complexities of starting and growing a business. For women entrepreneurs, especially those transitioning from a corporate career, a well-thought-out business plan can provide the clarity, confidence, and direction needed to succeed. Take the time to craft a business plan that reflects your vision and sets the foundation for a thriving, profitable business.

Melissa Houston, CPA is the author of Cash Confident: An Entrepreneur’s Guide to Creating a Profitable Business and the founder of She Means Profit . As a Business Strategist for small business owners, Melissa helps women making mid-career shifts, to launch their dream businesses, and also guides established business owners to grow their businesses to more profitably.

The opinions expressed in this article are not intended to replace any professional or expert accounting and/or tax advice whatsoever.

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Business & Finance
How to Create a Successful Corrective Action Plan

Creating a Successful Corrective Action Plan

How this versatile tool can help you identify and remedy areas of need in your manufacturing processes

A corrective action plan (CAP) is a systematic approach used to identify, investigate, and rectify deviations from established standards within a manufacturing process. Along with enhancing product quality and process efficiency, CAPs foster a culture of continuous improvement within manufacturing organizations. They can also drive efficient innovation and sustainable growth by encouraging proactive problem-solving and collaboration across teams.

A successful CAP will serve as your organization’s roadmap for addressing non-conformances, preventing recurrence, and most importantly, enhancing product quality and customer satisfaction.

Given the interconnected nature of manufacturing, you can only alter one area of productivity by impacting several others. Thankfully, corrective action planning lets you discern how manipulating one aspect of your business will influence other workflows, departments, and processes.

In other words, a well-crafted corrective action plan will enable you to effectively remedy a challenge without inadvertently creating new downstream problems.

What Is a Corrective Action Plan (CAP)?

A corrective action plan is a systematic approach used to identify, investigate, and rectify deviations from established standards within a manufacturing process.

It will serve as your organization’s roadmap for addressing non-conformances, preventing recurrence, and, most importantly, enhancing product quality and customer satisfaction.

Given the interconnected nature of manufacturing, you can only alter one area of productivity by impacting several others.

Thankfully, corrective action planning lets you discern how manipulating one aspect of your business will influence other workflows, departments, and processes.

Corrective Action Plan Examples

Before diving into the specifics of creating a CAP, let’s explore some real-world examples that showcase the versatility of this planning tool.

Suppose that a batch of your products falls short of quality standards during inspection. Through a corrective action planning process, your team can analyze the root cause of the defects, which may include an issue with the inputs (i.e., faulty components or subpar raw materials) or a problem with one of your machines. Once you’ve identified the issue, you can correct it.

Here’s another corrective action plan example: Let’s say that one of your suppliers constantly delivers subpar materials. In such a scenario, your CAP may involve renegotiating contracts, sourcing alternative suppliers, or implementing stricter quality control measures at the receiving end.

Although corrective action plans are, by their nature, internal tools, you may often have to look outward for the solution, especially when you identify an issue with your input components and raw materials.

If your production processes are inefficient or prone to frequent errors, a CAP could entail redesigning workflows, retraining staff, upgrading legacy technology, or implementing automation could also help streamline operations.

Why Are Corrective Action Plans Important?

In any corrective action plan example, the CAP itself helps provide your team with an organized, structured mechanism for identifying the root cause of deficiencies, remedying them, and achieving continuous improvement.

Other important use cases for corrective action plans include the following:

Quality Assurance (QA): CAPs help you uphold QA standards and meet customer expectations.
Regulatory Compliance: In a similar sense, CAPs help ensure adherence to QA standards and legal requirements.
Risk Mitigation: Addressing non-conformances allows you to reduce the likelihood of costly recalls, rework, or legal repercussions.
Operational Efficiency: Remedying deficiencies leads to greater agility and less waste.

The specific benefits that your organization unlocks through its corrective action planning will vary based on the scope and severity of each individual problem.

In general, though, the key is to remedy issues as quickly and thoroughly as possible.

What are the Elements of a Corrective Action Plan?

1. problem statement.

First, you must define the issue you’ve encountered and how that problem deviates from your standards. Be specific and concise.

2. Root Cause Analysis

Next, determine the underlying factors contributing to the problem. Never assume that the issue has only a single cause.

3. Action Plan

Outline specific measures to address the root cause(s), including tasks, responsibilities, timelines, and the resources you’ll need. Each team member should know their specific role, as well as how the elements of the overall plan work together.

4. Implementation

Execute your plan after getting buy-in from relevant stakeholders. Some implementation processes may only take a few weeks, whereas others, such as installing new equipment, can take months.

5. Monitoring and Verification

After implementation, its important to continuously monitor the resolution of all issues to confirm that they’ve been completely resolved. If they have only been reduced, but not fixed entirely, conduct another root cause analysis to determine what other factors are at play.

6. Preventive Measures

Implement preventive measures to mitigate the risk of recurrence of similar issues. For example, if your supplier was to blame for the challenges, monitor their performance more closely moving forward.

7. Documentation

Maintain comprehensive records of your actions throughout the corrective action planning process. Detail the findings of your investigations, what you did in response, and the outcomes.

Uses for Corrective Action Plans

There are several ways in which your organization can leverage a CAP to drive positive outcomes:

Product Quality Control: Addressing defects or non-conformances
Supplier Management: Resolving problems with trading partners or subcontractors
Process Improvement: Optimizing workflows to enhance efficiency and reduce waste
Compliance Management: Helping ensure adherence to regulatory requirements
Customer Complaint Resolution: Addressing consumer concerns or feedback regarding product quality.

By applying the versatility of the corrective action plan framework, you can support a wide array of organizational goals and better meet the needs of your customer base.

Tips for Writing an Effective Corrective Action Plan

Creating a concise, focused CAP requires careful planning and execution.

Right from the start, be thorough in your root cause analysis to identify all underlying factors contributing to the problem. Then build on this knowledge by defining clear and measurable objectives. These best practices can help things go smoothly:

Use a Collaborative Approach: Get relevant stakeholders involved early and often
Set Realistic Timelines: Be ambitious, but don’t stretch your team or resources too thin.
Continuously Monitor the Problem: Keep a close eye on the challenge during the entire CAP process.

The success of your corrective action plan hinges on the thoroughness of your root cause analysis. You must fully understand the problem, alongside all of the potential factors that may be causing and exacerbating the issue.

It’s important to take your time at this stage — differentiating between an aggravating factor and a causal one can be a bit challenging unless you dig deep.

For instance, a machine breakdown can lead to a production shortfall, but it may not necessarily be the causal factor. In reality, the causal factor could instead be traced back to poor maintenance or excessive wear and tear.

If you opt for a quick fix, know that the underlying issue will still persist and likely manifest again. Under the proper corrective action plan, you’ll take actions that gets positive results: revamping your preventive maintenance protocols or upgrading your machinery. This way, you address the issue at its source instead of simply removing an aggravating factor.

Learn More About Corrective Action Plans

If you need additional insights to help guide the creation of your corrective action plan, we’re ready to work with you.

At Epicor, our team of industry-focused, ERP solutions providers can provide you with the guidance and tools necessary to elevate your CAP workflows and enhance business efficiency.

Explore related content by topic

Christine Hansen serves as the Director of Product Marketing at Epicor, where she applies over 20 years of industry expertise to drive inventive solutions for the manufacturing sector. She holds BAs in Spanish and business administration from Augsutana College (SD) and is based in Minneapolis, MN.

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The University of Chicago The Law School

Abrams environmental law clinic—significant achievements for 2023-24, protecting our great lakes, rivers, and shorelines.

The Abrams Clinic represents Friends of the Chicago River and the Sierra Club in their efforts to hold Trump Tower in downtown Chicago accountable for withdrawing water illegally from the Chicago River. To cool the building, Trump Tower draws water at high volumes, similar to industrial factories or power plants, but Trump Tower operated for more than a decade without ever conducting the legally required studies to determine the impact of those operations on aquatic life or without installing sufficient equipment to protect aquatic life consistent with federal regulations. After the Clinic sent a notice of intent to sue Trump Tower, the State of Illinois filed its own case in the summer of 2018, and the Clinic moved successfully to intervene in that case. In 2023-24, motions practice and discovery continued. Working with co-counsel at Northwestern University’s Pritzker Law School’s Environmental Advocacy Center, the Clinic moved to amend its complaint to include Trump Tower’s systematic underreporting each month of the volume of water that it intakes from and discharges to the Chicago River. The Clinic and co-counsel addressed Trump Tower’s motion to dismiss some of our clients’ claims, and we filed a motion for summary judgment on our claim that Trump Tower has committed a public nuisance. We also worked closely with our expert, Dr. Peter Henderson, on a supplemental disclosure and on defending an additional deposition of him. In summer 2024, the Clinic is defending its motion for summary judgment and challenging Trump Tower’s own motion for summary judgment. The Clinic is also preparing for trial, which could take place as early as fall 2024.

Since 2016, the Abrams Clinic has worked with the Chicago chapter of the Surfrider Foundation to protect water quality along the Lake Michigan shoreline in northwest Indiana, where its members surf. In April 2017, the U. S. Steel plant in Portage, Indiana, spilled approximately 300 pounds of hexavalent chromium into Lake Michigan. In January 2018, the Abrams Clinic filed a suit on behalf of Surfrider against U. S. Steel, alleging multiple violations of U. S. Steel’s discharge permits; the City of Chicago filed suit shortly after. When the US government and the State of Indiana filed their own, separate case, the Clinic filed extensive comments on the proposed consent decree. In August 2021, the court entered a revised consent decree which included provisions advocated for by Surfrider and the City of Chicago, namely a water sampling project that alerts beachgoers as to Lake Michigan’s water quality conditions, better notifications in case of future spills, and improvements to U. S. Steel’s operations and maintenance plans. In the 2023-24 academic year, the Clinic successfully litigated its claims for attorneys’ fees as a substantially prevailing party. Significantly, the court’s order adopted the “Fitzpatrick matrix,” used by the US Attorney’s Office for the District of Columbia to determine appropriate hourly rates for civil litigants, endorsed Chicago legal market rates as the appropriate rates for complex environmental litigation in Northwest Indiana, and allowed for partially reconstructed time records. The Clinic’s work, which has received significant media attention, helped to spawn other litigation to address pollution by other industrial facilities in Northwest Indiana and other enforcement against U. S. Steel by the State of Indiana.

In Winter Quarter 2024, Clinic students worked closely with Dr. John Ikerd, an agricultural economist and emeritus professor at the University of Missouri, to file an amicus brief in Food & Water Watch v. U.S. Environmental Protection Agency . In that case pending before the Ninth Circuit, Food & Water Watch argues that US EPA is illegally allowing Concentrated Animal Feeding Operations, more commonly known as factory farms, to pollute waterways significantly more than is allowable under the Clean Water Act. In the brief for Dr. Ikerd and co-amici Austin Frerick, Crawford Stewardship Project, Family Farm Defenders, Farm Aid, Missouri Rural Crisis Center, National Family Farm Coalition, National Sustainable Agriculture Coalition, and Western Organization of Resource Councils, we argued that EPA’s refusal to regulate CAFOs effectively is an unwarranted application of “agricultural exceptionalism” to industrial agriculture and that EPA effectively distorts the animal production market by allowing CAFOs to externalize their pollution costs and diminishing the ability of family farms to compete. Attorneys for the litigants will argue the case in September 2024.

Energy and Climate

Energy justice.

The Abrams Clinic supported grassroots organizations advocating for energy justice in low-income communities and Black, Indigenous, and People of Color (BIPOC) communities in Michigan. With the Clinic’s representation, these organizations intervened in cases before the Michigan Public Service Commission (MPSC), which regulates investor-owned utilities. Students conducted discovery, drafted written testimony, cross-examined utility executives, participated in settlement discussions, and filed briefs for these projects. The Clinic’s representation has elevated the concerns of these community organizations and forced both the utilities and regulators to consider issues of equity to an unprecedented degree. This year, on behalf of Soulardarity (Highland Park, MI), We Want Green, Too (Detroit, MI), and Urban Core Collective (Grand Rapids, MI), Clinic students engaged in eight contested cases before the MPSC against DTE Electric, DTE Gas, and Consumers Energy, as well as provided support for our clients’ advocacy in other non-contested MPSC proceedings.

The Clinic started this past fall with wins in three cases. First, the Clinic’s clients settled with DTE Electric in its Integrated Resource Plan case. The settlement included an agreement to close the second dirtiest coal power plant in Michigan three years early, $30 million from DTE’s shareholders to assist low-income customers in paying their bills, and $8 million from DTE’s shareholders toward a community fund that assists low-income customers with installing energy efficiency improvements, renewable energy, and battery technology. Second, in DTE Electric’s 2023 request for a rate hike (a “rate case”), the Commission required DTE Electric to develop a more robust environmental justice analysis and rejected the Company’s second attempt to waive consumer protections through a proposed electric utility prepayment program with a questionable history of success during its pilot run. The final Commission order and the administrative law judge’s proposal for final decision cited the Clinic’s testimony and briefs. Third, in Consumers Electric’s 2023 rate case, the Commission rejected the Company’s request for a higher ratepayer-funded return on its investments and required the Company to create a process that will enable intervenors to obtain accurate GIS data. The Clinic intends to use this data to map the disparate impact of infrastructure investment in low-income and BIPOC communities.

In the winter, the Clinic filed public comments regarding DTE Electric and Consumers Energy’s “distribution grid plans” (DGP) as well as supported interventions in two additional cases: Consumers Energy’s voluntary green pricing (VGP) case and the Clinic’s first case against the gas utility DTE Gas. Beginning with the DGP comments, the Clinic first addressed Consumers’s 2023 Electric Distribution Infrastructure Investment Plan (EDIIP), which detailed current distribution system health and the utility’s approximately $7 billion capital project planning ($2 billion of which went unaccounted for in the EDIIP) over 2023–2028. The Clinic then commented on DTE Electric’s 2023 DGP, which outlined the utility’s opaque project prioritization and planned more than $9 billion in capital investments and associated maintenance over 2024–2028. The comments targeted four areas of deficiencies in both the EDIIP and DGP: (1) inadequate consideration of distributed energy resources (DERs) as providing grid reliability, resiliency, and energy transition benefits; (2) flawed environmental justice analysis, particularly with respect to the collection of performance metrics and the narrow implementation of the Michigan Environmental Justice Screen Tool; (3) inequitable investment patterns across census tracts, with emphasis on DTE Electric’s skewed prioritization for retaining its old circuits rather than upgrading those circuits; and (4) failing to engage with community feedback.

For the VGP case against Consumers, the Clinic supported the filing of both an initial brief and reply brief requesting that the Commission reject the Company’s flawed proposal for a “community solar” program. In a prior case, the Clinic advocated for the development of a community solar program that would provide low-income, BIPOC communities with access to clean energy. As a result of our efforts, the Commission approved a settlement agreement requiring the Company “to evaluate and provide a strawman recommendation on community solar in its Voluntary Green Pricing Program.” However, the Company’s subsequent proposal in its VGP case violated the Commission’s order because it (1) was not consistent with the applicable law, MCL 460.1061; (2) was not a true community solar program; (3) lacked essential details; (4) failed to compensate subscribers sufficiently; (5) included overpriced and inflexible subscriptions; (6) excessively limited capacity; and (7) failed to provide a clear pathway for certain participants to transition into other VGP programs. For these reasons, the Clinic argued that the Commission should reject the Company’s proposal.

In DTE Gas’s current rate case, the Clinic worked with four witnesses to develop testimony that would rebut DTE Gas’s request for a rate hike on its customers. The testimony advocated for a pathway to a just energy transition that avoids dumping the costs of stranded gas assets on the low-income and BIPOC communities that are likely to be the last to electrify. Instead, the testimony proposed that the gas and electric utilities undertake integrated planning that would prioritize electric infrastructure over gas infrastructure investment to ensure that DTE Gas does not over-invest in gas infrastructure that will be rendered obsolete in the coming decades. The Clinic also worked with one expert witness to develop an analysis of DTE Gas’s unaffordable bills and inequitable shutoff, deposit, and collections practices. Lastly, the Clinic offered testimony on behalf of and from community members who would be directly impacted by the Company’s rate hike and lack of affordable and quality service. Clinic students have spent the summer drafting an approximately one-hundred-page brief making these arguments formally. We expect the Commission’s decision this fall.

Finally, both DTE Electric and Consumers Energy have filed additional requests for rate increases after the conclusion of their respective rate cases filed in 2023. On behalf of our Clients, the Clinic has intervened in these cases, and clinic students have already reviewed thousands of pages of documents and started to develop arguments and strategies to protect low-income and BIPOC communities from the utility’s ceaseless efforts to increase the cost of energy.

Corporate Climate Greenwashing

The Abrams Environmental Law Clinic worked with a leading international nonprofit dedicated to using the law to protect the environment to research corporate climate greenwashing, focusing on consumer protection, green financing, and securities liability. Clinic students spent the year examining an innovative state law, drafted a fifty-page guide to the statute and relevant cases, and examined how the law would apply to a variety of potential cases. Students then presented their findings in a case study and oral presentation to members of ClientEarth, including the organization’s North American head and members of its European team. The project helped identify the strengths and weaknesses of potential new strategies for increasing corporate accountability in the fight against climate change.

Land Contamination, Lead, and Hazardous Waste

The Abrams Clinic continues to represent East Chicago, Indiana, residents who live or lived on or adjacent to the USS Lead Superfund site. This year, the Clinic worked closely with the East Chicago/Calumet Coalition Community Advisory Group (CAG) to advance the CAG’s advocacy beyond the Superfund site and the adjacent Dupont RCRA site. Through multiple forms of advocacy, the clinics challenged the poor performance and permit modification and renewal attempts of Tradebe Treatment and Recycling, LLC (Tradebe), a hazardous waste storage and recycling facility in the community. Clinic students sent letters to US EPA and Indiana Department of Environmental Management officials about how IDEM has failed to assess meaningful penalties against Tradebe for repeated violations of the law and how IDEM has allowed Tradebe to continue to threaten public and worker health and safety by not improving its operations. Students also drafted substantial comments for the CAG on the US EPA’s Lead and Copper Rule improvements, the Suppliers’ Park proposed cleanup, and Sims Metal’s proposed air permit revisions. The Clinic has also continued working with the CAG, environmental experts, and regulators since US EPA awarded $200,000 to the CAG for community air monitoring. The Clinic and its clients also joined comments drafted by other environmental organizations about poor operations and loose regulatory oversight of several industrial facilities in the area.

Endangered Species

The Abrams Clinic represented the Center for Biological Diversity (CBD) and the Hoosier Environmental Council (HEC) in litigation regarding the US Fish and Wildlife Service’s (Service) failure to list the Kirtland’s snake as threatened or endangered under the Endangered Species Act. The Kirtland’s snake is a small, secretive, non-venomous snake historically located across the Midwest and the Ohio River Valley. Development and climate change have undermined large portions of the snake’s habitat, and populations are declining. Accordingly, the Clinic sued the Service in the US District Court for the District of Columbia last summer over the Service’s denial of CBD’s request to have the Kirtland’s snake protected. This spring, the Clinic was able to reach a settlement with the Service that requires the Service to reconsider its listing decision for the Kirtland’s snake and to pay attorney fees.

The Clinic also represented CBD in preparation for litigation regarding the Service’s failure to list another species as threatened or endangered. Threats from land development and climate change have devastated this species as well, and the species has already been extirpated from two of the sixteen US states in its range. As such, the Clinic worked this winter and spring to prepare a notice of intent (NOI) to sue the Service. The Team poured over hundreds of FOIA documents and dug into the Service’s supporting documentation to create strong arguments against the Service in the imminent litigation. The Clinic will send the NOI and file a complaint in the next few months.

Students and Faculty

Twenty-four law school students from the classes of 2024 and 2025 participated in the Clinic, performing complex legal research, reviewing documents obtained through discovery, drafting legal research memos and briefs, conferring with clients, conducting cross-examination, participating in settlement conferences, and arguing motions. Students secured nine clerkships, five were heading to private practice after graduation, and two are pursuing public interest work. Sam Heppell joined the Clinic from civil rights private practice, bringing the Clinic to its full complement of three attorneys.

COMMENTS

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Business Plan Conclusion: Summary & Recap

What is a Business Plan Conclusion?

Is the Business Conclusion Necessary?

How To Write a Conclusion for Your Business Plan

Determine Location

Review & Concisely Recap

Finish Your Business Plan Today!

Established businesses might include information in their conclusions such as:

Support Your Claims with Stats and/or Visuals

Establish a Call-To-Action (CTA)

Proofread & Spell-Check

Business Plan Conclusion Example

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How to Write a Business Plan Conclusion?

What is a business plan conclusion?

Business plan conclusion vs. executive summary

Why is a business plan conclusion important?

How to write a conclusion for your business plan?

1. Choose the right placement

2. Place the right information

3. Include stats and visuals

4. Add a CTA

5. Review and proofread

Business plan conclusion example

Let’s conclude your business plan

Frequently Asked Questions

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Reach Your Goals with Accurate Planning

Writing an Effective Business Plan Conclusion: Tips & Examples

How to End a Business Plan?

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How To Write the Conclusion of a Business Plan

How to write a business plan conclusion

1. Decide where you want it to be

2. Include the right information

3. Add facts and statistics

4. Maintain a positive tone

5. Include a call to action

6. Review your conclusion

What is a business plan conclusion?

Business plan conclusion example

Business Plan Writer Explains How to Write a Business Plan: Part 8 The Conclusion

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How To Write the Conclusion of a Business Plan

Business Plan Writer Explains How to Write a Business Plan: Part 8 The Conclusion

How to write a business plan conclusion

1. Decide where you want it to be

2. Include the right information