Business Plan is one part service of busines incubator , it is a useful and professional tool to help the person who wnat to startup their business. A business plan is an essential roadmap for business success. This living document generally projects 3-5 years ahead and outlines the route a company intends to take to grow revenues.
A well-written business plan can mean the difference between success and failure -- not only when it comes to securing capital, but also as it relates to actually running your company. The business plan provides a roadmap that explains how the company will get from point A to point B.
Why to make a business plan
A business plan is a written document that describes your business. It covers objectives, strategies, sales, marketing and financial forecasts.A business plan helps you to: clarify your business idea,spot potential problems,set out your goals and measure your progress.
You’ll need a business plan if you want to secure investment or a loan from a bank.It can also help to convince customers, suppliers and potential employees to support you.
What to consider before making a business plan
1. How Long Should Your Plan Be?
2. When Should You Write It?
3. Who Needs A Business Plan?
4. Why Should You Write A Business Plan?
5. Determine Your Goals and Objectives
6. Outline Your Financing Needs
7. Plan What You'll Do With Your Plan
8. Don't Forget About Marketing
What procedures to follow in a business plan
1. Executive Summary: Within the overall outline of the business plan, the executive summary will follow the title page. The summary should tell the reader what you want. This is very important. All too often, what the business owner desires is buried on page eight. Clearly state what you're asking for in the summary.
2. Business Description: The business description usually begins with a short description of the industry. When describing the industry, discuss the present outlook as well as future possibilities. You should also provide information on all the various markets within the industry, including any new products or developments that will benefit or adversely affect your business.
3. Market Strategies: Market strategies are the result of a meticulous market analysis. A market analysis forces the entrepreneur to become familiar with all aspects of the market so that the target market can be defined and the company can be positioned in order to garner its share of sales.
4. Competitive Analysis: The purpose of the competitive analysis is to determine the strengths and weaknesses of the competitors within your market, strategies that will provide you with a distinct advantage, the barriers that can be developed in order to prevent competition from entering your market, and any weaknesses that can be exploited within the product development cycle.
5. Design & Development Plan: The purpose of the design and development plan section is to provide investors with a description of the product's design, chart its development within the context of production, marketing and the company itself, and create a development budget that will enable the company to reach its goals.
6. Operations & Management Plan: The operations and management plan is designed to describe just how the business functions on a continuing basis. The operations plan will highlight the logistics of the organization such as the various responsibilities of the management team, the tasks assigned to each division within the company, and capital and expense requirements related to the operations of the business.
7. Financial Factors: Financial data is always at the back of the business plan, but that doesn't mean it's any less important than up-front material such as the business concept and the management team.
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