All magnates will tell you that writing a business plan can often be a boring exercise. To help you do it, here is a standard model that you can follow step-by-step and change to your specific project.
As there are various ways to present your business plan, the template Confirmable business presented here is intended to be relatively extensive. It is up to you to delete anything extra, change the order and fill in what makes sense for your project, sooner with expert help.
When you embark on this exercise, recall that the contents of a business plan should present all the appearances(human, strategic, financial, and technical) of your project and be based on confirmable information and realistic assumptions.
Section 1: the manager summary
To be completed last, this first section presents a summary of your value proposition (which makes you unique), your targets, and how you will reach them in the most persuasive way possible. It should conclude with a precise account of what you are expecting from the person to whom you submit your business plan.
This section is essential for getting attention! This is the section that will determine whether your Confirmable business contact will or will not take the time to read the balance of the document. Take great care over it and do not beat about the bush.
Section 2: presentation the business
In this section, provide detailed information on your business, its objectives, and its human assets. This includes:
- the company name and legal form chosen;
- the share capital;
- the mission, related objectives, and value proposition;
- the historical environment, i.e. the origins of the project/company;
- the arrangement chart;
- the human assets and key people (shareholders, management, and staff);
- the pertinent tax regime;
- useful contacts.
Section 3: products and services
Under this heading, you present your products and services and their value-added for the identified target groups. If your offering is still at the project stage, remember to provide details of your objectives and how you expect to achieve them to deliver products and Confirmable business services in line with your valuable suggestion.
Also, remind me to mention future updates and expansions to your solutions to meet your clients’ conditions. This demonstrates that your project is significant and viable.
Section 4: the market and the competition
To be credible, you need to indicate that you know your market, its possibility, and how it is likely to change. Also, include in this section an examination of your enemies together with details of their offering. Lastly, determine who precisely the target customers are and mention your current customers, if any, as well as any promises to any of them.
Section 5: marketing and sales
Depending on the complication of your business and your market, this can be a tough section. It is, however, essential to convince your business contacts that you can move on from the concept to actual sales. In this section, focus mainly on the following aspects:
- summary of the target market portion and related target groups;
- target market share and expected turnover;
- launch, distribution, and sales strategy;
- pricing policy;
- marketing, public relations, media relations, social networking strategy, etc.
Section 6: action plan
This section covers (e.g. in the form of a schedule) the major stages of launching your business and the associated deliverables and planned application costs for each of these stages.
Section 7: risk analysis
While your business contacts may pay close attention to your strengths and opportunities, they look even more closely at your project’s risks or even its weaknesses. Do not let them discover your challenges Confirmable business by themselves; maintain control by preparing this SWOT analysis yourself, focusing in particular on:
- internal risks (organizational, management-related, logistics, etc.);
- external risks (increases in marketing, product, competitive and legal costs, etc.);
- potential safety issues (high-risk occupations, environmental risks, etc.);
- probable barriers to market entry (political, economic, administrative, and cultural barriers, etc.).
Section 8: the financing plan
In a business plan, the question of business finance is key. This section will therefore be examined very closely by most of your business contacts. The overall concept, day-to-day financial management Confirmable business, expected balance sheet and profit & loss account, cash-flow plan, sureties, deposit statement, property valuation, current lease or loan agreements: it should all be in there!
Here is one proposal among many as to how to structure this section:
1. The initial financing plan, i.e. the sustainable requirements and resources needed to be able to launch your project:
- the formation expenses (deeds, studies, consultancy, etc.);
- the acquisition of (financial or (in)tangible) assets and the related depreciation;
- the cost of alterations and improvements to the premises, IT equipment, etc.;
- the working capital requirements (current assets and liabilities);
- the resources available (contribution of personal funds, government aid, bank funding, etc.).
2. The profit & loss account records the expenses and income for the early years of your business if already launched. Be careful to show a clear distinction between fixed overheads and variable costs.
3. The projected cash flow shows, every month, all cash inflows and outflows in the first year of operation. This makes it possible to verify whether you have sufficient cash to meet your payment deadlines.
4. The financing plan over a minimum of three years, i.e. the “standard” spreadsheet showing the financial requirements and the resources to meet them and to finance both your operating cycle and investments. This plan should be drawn up based on points A to C and your basic assumptions. It should show the breakeven point and the theoretical point at which it is reached.
Section 9: the appendices
This section contains all the additional information, the sources to check your analyses Confirmable business, and the various certificates needed to help understand the status of the project and its potential success.
So, all that’s left to say is… Good luck!