What does a Business Plan Look Like
A fully prepared business plan with fully answered questions will definitely serve its purpose.
This will determine whether an investor or lending company will invest in your business or not.
How to Write a Business Plan?
Writing your business plan is really a challenging process. It can take up a lot of time for any potential business owner. It is also very critical especially if you seek funding from the outside source to start your business. Nevertheless, even businesses which do not need startup capital funding from investors must create a business plan because a business plan will help you stay on the right track and keep you focused on your main goals.
Writing your business plan is the same as writing your CV. Business plan may look like a simple CV but it should be the best simple CV in the land. There are lots of ways to write it; different styles, formats, and presentations but the main content must cover your business goal in the most persuasive and truthful way. While the content of a business plan is the most critical part, the format and style of it can also have a huge impact on investors. So, what does a business plan look like? What composed of a good business plan?
- Personnel and Position – This is the section where you will list the overall position of your business. This is where you will write the description of your business idea as well as the people needed to make it happen and the skills your team posses.
- Research – This is the part where you will demonstrate your understanding of your target market. This must also contain your potential competitors’ data and information.
- Business Strategy – Write on this part your marketing as well as promotional strategy. In this section, you must define the position you wish to get on the market.
- Operations – In this section, you will be describing the day to day managing of your business. This should include employee requirements, manufacturing processes, and legal matters.
- Financial – On this part, you must highlight the financial forecast of your business idea. You must include the balance sheet, P&L, and cash flow of your business in the most realistic and accurate way.
- Controls – Demonstrate on this section how you can control and manage all your business elements like finance, sales, production, etc.
What to See on a Business Plan?
- Uniqueness of the project or the company
- Company operation
- How the company can attain profitability and stability
- How the company will succeed
- The benefits that can be derived from the capital infusion
- Capability of the business to implement the business plan
- Reality of financial projections
- Possible exit strategy for investors