WHAT IS A BUSINESS PLAN?
A business plan is a document that:
- Describes all the main aspects of the future enterprise or project.
- Analyzes all the problems that it may encounter.
- Defines ways to solve identified problems.
A correctly drawn up business plan is a clear answer to the questions: Is it worth investing in a conceived business and will it bring in incomes that will pay off all the costs of the forces and means?
WHAT IS A BUSINESS PLAN NEEDED FOR?
Business plan is need in order to decide if you are in need of new assets or not, if yes,how many, and whether to lease or buy them.
Ideally, you should immediately start looking for a professional consultant, preferably related to the bank you are applying for a loan.
If you can not find a friendly bank specialist, just contact the most competent company involved in business planning.
The good news is that you do not need to be limited to local specialists, the Internet allows you to freely exchange information with a specialist from anywhere in the world.
Bad news, making the right choice becomes many times more difficult, because the objective evaluation of the level of competence of specialists is significantly affected by the spread of prices for the services of the latter.
HOW TO WRITE A BUSINESS PLAN?
Let’s see how to make a business plan.
- Goals and objectives
Here you will need to give an analysis of the idea (SWOT-analysis). To reveal strengths and weaknesses, as well as opportunities and threats.
- Analysis of the idea.
- Purpose of the activity (what do you want to achieve).
- Characteristics of the industry.
It is important that this part is written in a clear language, understandable for the layman.
- Description of products or services and their application.
- Technology and skills required for business.
- License / patent rights.
- Market analysis
The marketing is a decisive factor for all companies. You must first collect and process a large amount of “rough” information.
- Competitors (their strengths and weaknesses).
- Segments of the market.
- The size of the market and its growth.
- Estimated market share.
- Composition of your clientele.
- Influence of competition.
- Marketing plan
At this stage, the main task is to win the trust and the location of the potential investor. If you do not have a special education, you should read books on marketing, contact a specialist.
- Marketing alignment (the main characteristics of products, services in comparison with competitors).
- Pricing (how to set the price of the goods correctly).
- Scheme of distribution of goods.
- Methods of sales promotion.
- Production plan
Here you should consider all the issues related to the premises that you occupy, their location, equipment, personnel.
- Location of premises.
- Sources of supplies of basic materials and equipment.
- Use of subcontractors.
- Management personnel
Investments are made in specific people, not in a business plan, therefore this section is one of the most important.
- The main management team.
- Composition of staff.
- Sources and amount of required resources
In this section, you must submit your thoughts on:
- Amount of required funds.
- Sources of their receipt, form, timing.
- Terms of refund.
- Financial plan and risk analysis
Business people are divided into those who like to work with numbers, and who are afraid of them. For those who belong to the first category, this section of the business plan is undoubtedly the most important.
- Sales volume, profit, cost price, etc.
- Risks, and how they can be avoided.
- Detailed financial plan
You need to include in your business plan a detailed financial plan:
- Forecast of sales volumes.
- Estimates of profit and loss.
- Analysis of cash flow (monthly for the first year, then quarterly).
- Annual balance sheet.
WHERE TO FIND BUSINESS PLAN TEMPLATES?
Writing a business plan already takes a lot of time and effort. You would not want to deal with its format and structure, too, would you? That’s why we want to offer you using a business plan template. Only by using them you’ll understand how much help they give you.
Below we give you some of the websites that offer you free business plan templates:
- BPlans – bplans.com
- com – www.ınc.com
- org – www.score.org
- Business – business.com
- LivePlan – liveplan.com
Get your business plan template, now, and start writing your business plan without mistakes!