How to develop a business plan
Video: How to Write a Business Plan - Entrepreneurship 101 2024, July
It is impossible to create and promote a business without a detailed business plan. A business plan helps the creator of the business to prioritize correctly, evaluate possible business performance, and streamline the production process. In addition, a business plan is needed to attract investors and obtain bank loans.
Instruction manual
1
A detailed business plan should contain the following sections:
1. introduction (resume).
2. The essence of the business.
3. market conditions for this type of business.
4. a way of doing business.
5. The necessary amount of funding.
6. terms of project implementation and payback.
Depending on the specifics of the business, the business plan may include other information.
2
A resume is the most important part of a business plan and is usually the hardest to write. It is no secret that some investors read only the summary of business plans, and only look at the rest, and then in those cases when the resume seems interesting. It should be brief, understandable, including the conclusions from the following sections. A resume should show the effectiveness of your future business.
3
The essence of the business involves the provision of information on its goals and effectiveness. This section can be very detailed. Do not omit even the most seemingly insignificant goals.
4
The section "market conditions" must be written, after conducting at least a small marketing research of the market for goods or services similar to yours. In this section you need to answer the main question - how much demand will be exactly for your products (services)? After all, it is clear that you have competitors, and that there can be many similar goods (services) in the market.
5
The "way of doing business" section provides a description of business processes. It is also necessary to indicate here which of the key employees will be responsible for one or another aspect of the business, what tasks are set for them.
6
In the "necessary funding" section, you should list all the necessary expenses and approximate amounts to cover them. Do not miss even the little things like buying office supplies for the office. The investor must see what his funds will be allocated for.
7
How the project will be implemented and paid off is the most important information for the investor. The main goal of investing in a business is to make a profit, and the investor must know firmly in what time frame your business, for example, will establish production, start selling, switch to payback, and be able to return invested funds. In this section, it is important not to underestimate the possible profit, but not to exaggerate, since the investor may simply not believe in such figures.
