PROFESSIONAL SALESMANSHIP FINAL REQUIREMENT

I. Create an executive summary.

Business plans — sales-oriented and otherwise — are often initially created by new
enterprises that are seeking investors or financing, then revised over time. An executive summary is a
standard way to quickly introduce the key details of your business.

The executive summary is the introduction to your business. It defines the problem or need in the
market, and explains how you are uniquely capable of solving / providing for it. It tells people unfamiliar
with your business what you do and why you will succeed.

It should also touch on your marketing, financial, and management strategies, and projections for your
business going forward. Essentially, it should provide a “taste” of the information included in the
business plan as a whole.

Take, the “summary” part seriously, though. It should be brief, at most a couple of paragraphs. It is also
acceptable to use bullet points, graphics, or other means to making the key points clear and accessible.
You want those outside the field to clearly understand it.

II. Define your business and product.

After the executive summary, your sales business plan will need to flesh out the
details in that initial section. It is smart to begin by providing more information on who your are and
what you sell.[3]

Provide brief details on when and how your business was formed, where it is located, and its legal
structure (sole proprietorship, LLC, etc.).

Define the value of your product or service. Identify the unique and specific benefits your product or
service provides for your target population. Your product may save people money, improve their health
or advance their knowledge. Clarify the exact need that you are meeting.

III. Analyze your industry.

Once you’ve explained who you are and what you do, you need to identify the
other players in your field and your relative position among them. What other companies
sell the products or services you do?

Establish your position in the market. Determine the exact niche for your product or service.
Your product may be an innovative tool for solving a common problem in a particular
demographic. Or it may be similar to other products, yet more affordable for a specific
demographic.

If you provide small-business IT services, for instance, you want to provide an overview of
the larger industry and any ongoing or likely changes within it.

Consider the trends in your industry and market in order to project your future growth or
success (hopefully) moving forward.
 Consider the geographic limits of the market area. Service companies in particular are often
disadvantaged by higher costs of travel to extended areas versus local competitors.

IV. Consider your customers.

In this section of the sales business plan, you want to zero in on the target
demographics for your products or services. Who do you sell to (or want to sell to), and how
many of “them” are there in your market?
If you sell relaxing bath products, for example, you target population may be working
mothers between ages 25 and 49. Provide brief demographic and geographic information,
along with projections moving ahead.
V. State your competitive advantage.
Once you have identified who you are, what you sell, who you sell it to, and who
else is doing the same, you need to establish specific reasons why you will succeed.
Whether it is to lure investors or provide a vision for your sales business, you need to
express justifiable confidence in your position.
If, say, you are a regional snack-food producer, you should outline the strengths and
weaknesses of your main competitors, and delineate why you have (or will have) the upper
hand. It could be an innovative product line, marketing strategy, distribution technique,
pricing model, and so on.
Be realistic in your analysis, but don’t be shy to state why you will “win.” Now is not the
time for modesty.

VI. Lay out your sales and marketing plans.

This section is particularly vital for a sales-oriented business. You have just
explained why you are going to “win,” and now you need to describe how.[9]
Examine your pricing structure. Writing a sales plan is an opportunity to establish a pricing
strategy. Research similar products and services in the industry and set prices accordingly.
Prices should allow you to remain competitive and still generate profits. Include plans for
incremental price increases in line with manufacturing costs.
Outline your long-term and short-term revenue goals. Be as realistic as possible in your
forecast. Use your recent revenue history as a guide, accounting for significant changes in
the market that may decrease your revenue or create new opportunities in the future.
Identify ideal locations for your products and services. Opening a new store location and
making your products available to resellers are possible options. Your sales plan should
include where all of your sales activity will take place and the costs associated with each
location.
Define your advertising approach. Websites, print publications, television advertising and
banners are a few advertising options. Evaluate the performance of each marketing strategy
throughout the history of your business and include the successful options in your
marketing plan.
Outline the activities of your sales and marketing team. Include the sales strategies that
have proven effective in the past. Cold calling, attending trade shows and partnering with
organizations are examples of sales and marketing activities. Describe the approach that
your sales team will use both in the short-term and long-term to generate leads and close
deals.