Not all entrepreneurs kickstart their new venture with a business plan in mind. Maybe you have the same belief as them, maybe you’re thinking that you don’t really need a plan. After all, some entrepreneurs succeed without the need for business plans. However, having a business plan outlines what’ll make your business successful and fail.
Think about it: If you’ve watched Netflix’s Money Heist, you’ll notice about one thing: The Professor never made a heist without a plan. The Professor was the leader of the gang. He was the mastermind behind the two successful heists.
Writing a business plan is just like Money Heist. You don’t enter a building, print your own money, or steal the gold, and sacrifice your people without having a plan. Otherwise, you’ll have dead people or dead businesses.
What is a business plan?
A business plan is an outline containing what your business does, your goals, and how you plan to achieve these goals. It serves as a roadmap on how your business will operate.
Whether you’re writing a business plan for small businesses or large corporations, it doesn’t have to be tedious and long. We’ve actually compiled the list of sections that your business plan must have and we’ll dive into that later. It can be simple, short, but in detail.
The importance of business plans isn’t just to attract potential investors. They’re essential for when you want to lay out a clear plan, organize your thoughts, or research your ideal customers. If you’re looking for a way to have all these ideas in one place, then a business plan is a good starting point.
It can be intimidating to write a one. So we made it easier for you – an investor-grade business plan in 15 to 30 days. In less than a month, you can get going and present your plan to potential investors. Order a business plan today.
How to create a business plan: A step by step process
Without a guide, you’ll most likely start off facing a blank sheet of paper. The following sections are what compose a business plan. You don’t need much, really.
1. Executive summary
The executive summary is an outline of your company’s mission and vision. It’s one of the most crucial parts of a business plan and you should write it in the last section.
A good executive summary should include:
- A brief description of your company
- Your products or services
- Your target market
- A brief growth potential
- An overview of financial requirements
Be mindful of the word count when writing the executive summary. It might be tough trying to fit these in one or two pages.
2. Company description
The company description should be clear and concise on who you are and what you plan to do. This presents an opportunity to introduce your company, its values, and its ideals.
Here are some subsections you can include when writing a company description:
- Your business model
- Your company’s mission and vision statement
- Your business structure
- Your team
3. Business opportunities
The business opportunities part contains the problems you want to solve and how you’re going to solve them. It might be good to jot down the currently existing issues in the industry and how your solutions will help. This section should also talk more about your competitors and your advantage over them.
4. Business execution
The business execution section should outline your marketing and sales efforts.
For the marketing execution, it should emphasize the whole marketing operations. These questions should act as a guide for your business' execution:
- Where will you market your products or services?
- Who will be your target market?
- What type of marketing strategies will you use?
- Will you have an in-house marketing team or outsource?
- How will you track your marketing’s track and progress?
It’s also an excellent time to introduce your pricing point and where you will operate. You don’t need to be as specific as putting the exact address. For the execution of the operation, these guidelines can help you out:
- Where will your suppliers come from?
- How will you produce your products or services?
- Where will you and your team work?
- Will you be working in person or virtually?
- Will you be handling the shipment or outsourcing?
- How much inventory will you keep?
5. Financial plan
A business's financial status determines whether it lives or dies, regardless of how brilliant your idea is. Individuals want to work for a company they believe will be around for a long time.
Your financial plan's level of detail may vary depending on your audience and objectives. Still, you’ll usually want to include three primary economic views: an income statement, a balance sheet, and a cash-flow statement. It's also possible that financial estimates will be helpful.
Having a business plan means having a roadmap. Do you have one?
While your business plan may be used to attract investors, keep in mind that the sole purpose of your business plan is to persuade people that your point is interesting.
Global Presence Marketing is the place to go if you need a professional business plan writer. We'll write an investor-ready company plan to entice potential backers. What's the good news? In less than 30 days. Order a business plan today.
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