How to develop a business plan
For the success of the enterprise and the company as a whole, you need the right development strategy, which needs to be thought out to the smallest detail. The best option would be to create a business plan, which will clearly spell out all the points. But, for starters, let’s look at what a business plan is, its varieties, the rules and purposes of drawing up – this is what we will tell you about in our article.
The essence and meaning of a business plan
What is a business plan? A business plan is a document that describes all the actions aimed at the development of a company or any other enterprise. In other words, a business plan is a step-by-step development strategy that has specific goals and must lead to a specific result. At the same time, a business plan is a kind of financial plan – they have the same goals and objectives.
The business plan must contain:
Information about the company;
Detailed description of the service, product;
Information about market research (analysis);
Description of possible risks;
This is a base that can be supplemented if necessary, but it is better not to ignore any of these points. Because they are all a mandatory part, without which it will be difficult to get a complete and correct forecast.
Why do you need a business plan?
Of course, the business plan itself is not something mandatory. However, if you want to, for example, allocate resources wisely, think through the details of a marketing campaign, or seek help with funding, you will need it. A business plan will help you avoid mistakes, reduce or completely eliminate the risk of losing money and, if necessary, attract investors. Of course, you can take on the task of writing a business plan yourself, but this will require a lot of effort. That is why they are of such high value: if you ask a specialist how much it costs to write a business plan, you may be very surprised.
Varieties of business plans
A business plan cannot have a universal look and fit all categories at once. Of course, you can create a very detailed plan that will really be used for a variety of purposes, but why spend a lot of time and effort on development, if it’s easier to find out what kind of business plan you can come up with and make according to the template?
There are such varieties:
Consider the types of business plans and their characteristics in more detail.
One-page is one of the most convenient types of plan, since it does not require large volumes, and the information is absorbed much better. It uses the following information in the form of 9 blocks, which is placed on one page (most often in a short but understandable form):
Partners – all about partners and suppliers: their resources, value, benefits, functions
Processes – what you need to achieve
Resources – what is needed to create processes
Costs – Initial Costs
Value – a unique offer of the company
Channels – how people find out about you
Customer relations – the whole process of working with a client
Customer segment – target audience
Profit – earning income – how and where
With the help of such a plan and the distribution of information, a one-page type business plan can be used for any purpose.
For internal use
An internal business plan is the most detailed type of plan. Here you will need to fully paint, think over and take into account all the points, as well as find all possible shortcomings. Although it can be drawn up in any form, it is recommended to make it as detailed and understandable as possible for everyone – for this it is better to focus on a sample business plan.
It is created so that a company or enterprise can see a clear plan, goals and objectives that are required to achieve them. The information in it should not deviate from the real state of affairs, as this can lead to errors in the final stages of execution. Here are some tips for creating the right plan:
Use non-standard design ways, do not be afraid to deviate from the standards;
Make sure it is understandable to every employee. The purpose of such a business plan is to get some result, so each of the participants must clearly know their role;
Work through all possible variations of events, find all possible sources of risk and do everything to minimize them.
For use outside the organization
A business plan that will be used outside the organization must be drawn up according to a special algorithm. Here you need to describe everything that may be needed to attract investors.
You also need to be ready to answer all the possible questions of investors, if they appear when working with your business plan.
Look at the finished plan through the eyes of a person who wants to invest in your business, and not only return it, but also increase it. So you will be able to prepare the most effective business plan.
Goals of a business plan for a company
In the list of the main goals of writing a business plan are the ability to apply for support with a budget and a clear action plan.