The Business Plan helps you to describe what you want to achieve with your company. Every entrepreneur looking for financing needs a convincing business plan. The business plan contains details about the operational and financial aspects of your company’s intentions. It creates a shared understanding about where your company is heading.
Download the Business Plan powerpoint Template to apply the tool. You can make a large printout of the Business Plan Canvas and use for brainstorming.
Your Business Plan can be created by completing the seven sections below in the following order:
Provide a high-level overview of the different aspects of your business. Who and where are you? What are your goals, your mission and vision? It is also important to include your past successes.
Describe your market from different perspectives
- The Customer Analysis describes your target customers and the needs you fulfil
- The industry analysis considers the market in which you compete and market trends
- The competitive analysis outlines your competitors’ and your competitive advantage.
Products & marketing
Include information about the specific benefits of your product or service, and details about intellectual property, where applicable. Explain your branding and promotions plan and how you will distribute (sell) your products and services to customers. You can use the Marketing mix tool here.
Operations & planning
Describe the key operational processes that your business needs to realise. Also include business milestones that need to be accomplished over the next 1-3 years. Management & staff Give details of the members of your management team and key staff and their roles and why they are qualified to execute the business plan. If you have a board of directors, you can also include some information about them.
Explain your revenue model, i.e. how you will generate revenue? Based on your revenue and cost estimations you can provide financial projections for the next 1-3 years. It is important to include the underlying assumptions. If you are seeking funding for your business, use this section to outline your requirements. Information can come from the Return on Investment Calculator tool.
This section is usually the first in your business plan but can be finalised when the other sections have been completed. The executive summary briefly tells your reader where your company is, where you want to take it, and why your business idea will be successful. It addresses the what, the why and the how of your business.
The appendix is used to support the rest of the business plan. It may contain detailed information on customers, technology or product specifications. Also detailed financial information like income statements, balance sheets and cash flow statements may be included.