HOW TO MAKE A BUSINESS PLAN? EXAMPLES AND TIPSby Marsh Maxwell Web Digital Group
How to make a Business Plan? What information to insert and which to leave out?
Before trying to understand how to make a Business Plan we must clarify what it is for and what benefits it can bring to our company. In this article we will summarize what a business plan is and what it is for, and we will describe 7 fundamental components, that is what you must include, what you must leave out, how to elaborate the figures and some resources on which you can rely.
Business Plan: what is it? What is it for?
The Business Plan, also called business plan, is the document you need to illustrate the aspects of the process of creating your business. Through your business plan you can check the feasibility of your ideas, both from a technical and an economic point of view.
The business plan is the necessary document in case of requests for financial financing, whether public or private: you will have to prepare a document that is credible, convincing and clear. It is a bit the business card of your business idea, but it is also a planning tool, which allows you to do an objective analysis. In fact, through the Business Plan, you can have black on white:
1. the objectives to be achieved
2. company description
3. the resources and means at your disposal
4. the strategies to be implemented
5. competition analysis
In your document, this section is to be placed immediately after the title. Thanks to the summary, the reader will immediately understand what you want to implement. It is a fundamental component of a business plan. Too often, the entrepreneur's intentions end up at the bottom of the document. Make it clear what you want.
The company description usually starts with a description of the sector. When describing the sector, both the current situation and future possibilities must be highlighted. You should also provide information on the various markets the industry is targeting, including any new products or developments that may positively or negatively affect your business.
Read also: auditors in Dubai
Market strategies are the result of careful market analysis. A market analysis leads the entrepreneur to familiarize himself with every aspect of the market, thus managing to define his target and position his company in such a way as to incorporate a good portion of this market.
The purpose of this analysis is to determine the strengths and weaknesses of the competition, to outline strategies that can benefit you, some forms of barrier that you can create to defend your market share and any weakness that can be exploited internally of the product development cycle.
Design and development plan
The purpose of the design and development plan is to provide investors with a description of the product project, its development within the context of production, marketing and the company itself, and to create a dedicated development budget that will allow the company to achieve their goals.
Operations and management plan
The operations and management plan is designed to describe the company's path over time. This plan highlights the logistical aspect of the organization and the various responsibilities within the management team, the tasks assigned to each division of the company and the capital and expenses related to the operations.
Financial data are always located at the bottom of each business plan, but this does not mean that they are less important than the documents on the front pages such as the description of the company or the management team.
If all this seems complicated to you, or if you believe you do not have the time and / or tools to make an effective business plan yourself, you could consider asking for the support of a business coach: Find out who we have selected for you
Preparing a good Business Plan certainly takes time and dedication, but it will be worth it because it is a tool that will help you become aware of reality, it will urge you to face aspects and problems that, taken by enthusiasm, could be overlooked.
As for the length of the document, there are no predefined rules: based on the type of idea to be put on black and white, in relation to the complexity and degree of specificity, both the level of detail of each point and the time required for its elaboration. But in the end it will certainly be worth it!
Created on Apr 5th 2020 14:26. Viewed 364 times.