Starting, developing and growing a business requires an investment of money. New entrepreneurs do not always have all the money they need to start their business. And those who have already achieved certain results do not always have enough money to take the business to a new stage of development. How to find it? By borrowing money from a bank or finding a partner willing to invest in your business. Your idea, the way it will be implemented and the results you will achieve should be clearly and rationally set out in writing. This is what a business plan is for. It should be simple and easy for the investor to understand, but at the same time contain all the data necessary to fully communicate your business idea.
Step Link outlines the broad structure of a business plan and the information that should be included in each section.
Executive Summary
The executive summary is a short, clear, basic document that provides a complete picture of your business idea, project. The purpose of this section is to generate interest in the business plan. It is the first impression of the business. Although it is short, it is the most important part of the business plan, after reading it the investor is likely to make a preliminary decision.
It is better to write a summary after you have written the full plan so that you do not miss any important points.
Product description
This section talks about your product, the unique selling proposition, the benefits of buying the product, the path the product will take to each customer segment, the projected revenue for these segments, the infrastructure of the business as a whole.
The product description should include items such as
Title;
Features;
Purpose;
Benefits;
Copyright, Licence, Certification;
Performance;
Environmental impact;
Packaging;
Quality assurance.
Marketing
A proper marketing analysis will show: whether the project's products can attract customers; at what price, in what quantities and through what channels they can be sold; whether the company can occupy its market niche, develop sales and compete successfully. You should also logically describe the relationship between quality, price and profitability. In addition, your plan should include a marketing strategy - how exactly the product will be promoted.
Competitor analysis
Researching competitors in your chosen niche will help you understand whether you can differentiate yourself from them and whether you can compete with them.
Organisational Structure
This section should describe your team and how it is organised.
Costing
Calculating the cost of goods or services is an extremely important section, especially if you are planning to get an investment loan. If you do not make detailed calculations, you may find that the business costs an order of magnitude more than planned when it is up and running.
Financial Plan
Describes sales volume, sources of finance, direct and indirect costs, payment schedule, cash flow analysis, net profit and break-even point.
Investors should be aware of where and how you plan to spend material resources. Remember that their share of the financial investment is an important criterion in assessing your business plan. No one will want to risk money unless you are willing to invest it in your business.
Risk Assessment
This is the recorded result of the SWOT analysis. This section explains the risk indicators, internal and external risks and the action plan for dealing with them.
Believe in your plan
The purpose of a business plan is not only to create a roadmap for you and your team, but also to show your potential partners or lenders that your projects are realistic.
The key is to believe in the business plan itself. A project may be well described and look attractive for investment. However, when it comes to implementation, situations often arise that were not foreseen. In this respect, one of the key criteria taken into account by the investor is the entrepreneur's belief in his project and his willingness to overcome any difficulties on the way to achieving the goal.
A business plan is not a set of letters and figures copied from somewhere. It is information that has a clear structure, meaning and logical connection, without empty words and theory. It should be prepared with a sense of responsibility. If you need professional help in writing a business plan, you can turn to the experts at Step Link Platform Inc.
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