Business Plan – What you need to know

Business Plan – What you need to know

Business plan helps you see the whole business

A good business plan guides you through each stage of starting and managing your business – it connects the dots in your business so you get a better picture of the entire business. It is a way to think through the key elements of your business. Your business plan serves as a road map that provides direction on how to structure, run and grow your new business.

Business plans can help you identify and secure the best financial resources from investors or partners, obtain debt such as loans and lines of credit, and negotiate attractive payment terms. Your business plan is a tool you will use to convince people that working with you or investing in your company is a smart choice.

Choose a Business plan that fits your need

There is no one-solution-fit-all approach in writing and designing a business plan. This means that, there are specific business plan written to achieve specific purpose. A good business plan is customized to meet your specific needs. Trying to copy an existing plan or filling in the blanks on a generic plan will produce a plan that sounds canned and uninspiring, and will do little to motivate others to participate in your venture. Different types of business plan are as follows;

Investor Ready Business Plan

Finding funds is one of the major challenges that hinder most people from starting their business ventures. A lot of energy goes into searching and identifying various sources and donors to raise funding capital, be it small business loan or grant. Having a well-articulated business plan is one of the surest things you can do to increase your chances of securing business fund from investors.

An Investor Ready Business Plan is ideal for someone who needs a business plan to pitch to potential investors (venture capitalists, angel investors or private investors). A well written Investor Ready Business Plan is concise, easy to follow and helps the investor have a better understanding of your business concept and company. The finished plan has the following components:

Plan OverviewExecutive Summary
Financial objectives
Products and services
Start up or expansion summary
Market AnalysisMarket analysis
Market needs
Location
Targeted demographics
Market segmentation
Operation AnalysisMarketing objectives
Marketing strategies
Competitive analysis
Competitive advantages
Marketing information
Management
SWOT analysis
Keys to success
Milestones
Investor information
Shareholders description
Business valuation
Company exit strategy
Return on investment
Use of funds
Financials3 year proforma financial projection include:
Personnel forecast
Cash flow statement
Profit & loss statement
Sales forecast
Breakeven analysis
Balance sheet
Financial assumptions
Sensitivity analysis

Bank Ready Business Plan

Top on the bankers and lending institutions list of requirements is the expectation that a business plan clearly contain realistic financial assumptions and projection. Other requirements are credible business background, understanding of the industry etc. No matter which loan programme or lending institution you choose to go for, you must be committed to crafting and writing a business plan that is in compliance with bank loan requirements to help our client secure bank funding.

A well thought out Bank Ready Business Plan includes some key features and showcases your commitment to put in the needed effort required for your business growth and success.

A Bank Ready Business Plan is ideal for someone making applications for business loan, personal loan, government loan and grant as well as loan/grant from lending institutions. A well written Bank Ready Business Plan has compelling in-depth market research and a detailed financials to help you secure your bid for bank funding. The finished plan has the following components:

Plan Overview
Executive Summary
Financial objectives
Repayment of debt
Products and services
Start up or expansion summary
Market Analysis
Market size
Market needs
Location
Targeted demographics
Market segmentation
Marketing information
Marketing objectives
Marketing strategies
Competitive analysis
Competitive advantages
Operation analysis
Management
SWOT analysis
Keys to success
Milestones
Complete Financials3 year proforma financial projection include:
Personnel forecast
Cash flow statement
Profit & loss statement
Sales forecast
Breakeven analysis
Balance sheet
Financial assumptions
Sensitivity analysis

Strategic Business Plan

While the classic business plan gives you a complete snap shot of your business and its future, a strategic business plan is a map that helps you chart the course of your business to growth. It is most beneficial to businesses that have launched and are looking to the next level in their growth process.

Don’t get it twisted, a strong business plan is the bedrock of every successful business/ company and a regular business plan got you covered in so many ways. However, developing smart strategic plans at every phase of your business growth stage plays a vital role in helping you attain true financial independency and success.

A strategic Business Plan provides specific actions and direction to reach the desired end. Every major company goal and initiative should be backed by a strategic business plan.
The Strategic Business Plan is ideal for someone that needs a game plan in hand to map out and chart a course towards financial stability or business growth.

By implication therefore, a company may have many strategic plans as it grows – this kind of plan is most valued and appreciated by business people who are really committed to constant development and growth of their business enterprises.

NGO & Non-profit Business Plan

NGOs and Non – profit organisations face unique challenges of not just funding but also of structure, management and how to position the organisation and meet the objectives of its formation.

NGOs and Non – profit organisations embark on more than one program and series of activities. Drawing up a long-term outline and periodic timetable for achieving success can be a herculean task. It requires a careful market research on many levels, including a deep understanding of both the client base and potential sources of constant cash flow.

A professionally written NGO & Non – profit Business Plan is absolute key to helping founders meet the unique needs and requirement of setting up a non – profit organisation successfully.

NGO & Non – profit Business Plan is ideal for someone who needs help in determining how the corporation will be managed. The finished plan has the following components:

Plan Overview
Executive Summary
Financial objectives
Board of directors and management summary
Products and services
Start up or expansion summary
Market Analysis
Market size
Market needs
Location
Targeted demographics
Market segmentation
Marketing information
Marketing objectives
Marketing strategies
Competitive analysis
Competitive advantages
Operation analysis
Management
SWOT analysis
Keys to success
Milestones
Complete Financials3 year proforma financial projection include:
Personnel forecast
Cash flow statement
Profit & loss statement
Sales forecast
Breakeven analysis
Balance sheet
Financial assumptions
Sensitivity analysis

Start-ups business plan

Apart from finding fund to start a business, another hidden obstacle most people usually overlook is, knowing the exact amount of fund, HR and other requirement needed to start and grow a business. This is one of the major reasons people find it difficult to repay business loans because they requested for and got an amount less than required for the proposed business.

A well-crafted Start – ups Business Plan provides you in-depth analysis of the entire requirement needed to lunch your business. This plan is tailor – made to suite your budget range and present economic circumstances. It relies on extensive market research, careful analyses of available data and informed forecasting.

The Start – ups Business Plan is ideal for someone who needs help in determining the viability and sustainability of a business. The finished plan has the following components:

Plan Overview
Executive Summary
Products and services
Use of funds
Start-up summary
Market Analysis
Market size
Market needs
Location
Targeted demographics
Market segmentation
Marketing information
Marketing objectives
Marketing strategies
Competitive analysis
Competitive advantages
Operation analysis
Management
SWOT analysis
Keys to success
Milestones
Complete Financials3 year proforma financial projection include:
Personnel forecast
Cash flow statement
Profit & loss statement
Sales forecast
Breakeven analysis
Balance sheet
Financial assumptions
Sensitivity analysis

In conclusion, only a carefully thought-out and well-packaged business plan can win the needed support and investment and is essential to the success of any business venture.

Regardless of the type of plan you choose to write, the finished plans should have visually appealing designs and include colour charts and graphs.

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