Let’s start with the parts of a Business Plan and which one will come first and which one will come later. Our aim is to let you complete your business plan and try getting funding through it. These are only a brief overview of your Business Plan. We are going to see each section separately and going to work on it.
Executive Summary
It will have the important information from each section of your Business Plan. So, you can summarize it after completing all section. This is very important part and should be compelling so that investors will be interested in knowing more about your business.
Management Team Plan
This section will have the detail of your team and the capabilities of each member. You need to show how your team can fill the gaps in case you might have.
Company Description
You need to provide an outline of your business. It should have the details of:
Type of business you are going to start
Size of the business and
The scope of your business
It should also mention about the opportunities and reason for the success of your venture.
Product and Service Plan
It should include and product and services you are going to offer and how you are going to take these products and services in future with possible changes in the products and services that might happen.
Vision and Mission Statements
Vision statements reflects the purpose and scope of the company and mission statements expressed the major goals that the company will try to achieve.
Industry Overview
Research about the industry of your business. You need to do research about the growth of the industry under which your business comes and then check about the trends of the industry. If you are not sure about the Industry, check here.
Market Analysis
In this section you need to analyze your prospective market i.e. your customers. You can include the geographic area under which your target customer will be there, their economic data and the demographics of your target market. This section will help you in making your marketing and sales strategies.
Competitive Analysis
Just find out your competitors and how you are going to sustain in the market and can have advantage over your competitors. Your pricing strategy can also help but you need to do research about your competitors: what they are selling, their price, services etc to have an idea about how to sustain in the market.
Marketing Plan
A marketing plan helps you in brand awareness of your products and services among your customers. In this section you need to put details like which media you are going to use, what will be your pricing and how much budget you are going to keep for marketing.
Operational Plan
This section will include the details of how are you going to manufacture the product and how the delivery of products and services could be done.
Organizational Plan
This section will have the information of the type of organization (we will see it very soon) you have and details of people who will manage the organization.
Financial Plan
This section will show the forecasting of the business. You need to show this in financial statements in the form of spreadsheets. For this you need to have an understanding of Accounting. We will also study this before we will finish our Business Plan.
Growth Plan
The section will have the detail of how you want to see your business growing in future. What plan you have to expand your business in future. This section investors like to see more.
Contingency Plan
This section will have the anticipated risks that you business can have in future and how are you going to minimize those risks. It could be related to pandemic, emergencies, lower sales etc.
Cover Page, Title Page, Table of Contents and Supporting Documents
This section can be at the very starting of your business plan or at the end. It depends on country to country. We will discourse more about this later in our 30 days course.
The cover page should have the name, address and contact details of the company with company logo. You need to register your logo as your Trademark so that others can’t use it.
Then it will have title page. This page will have
The name of the company
The name, title and address or owner/owners.
The date of the submission of the plan and
Name of the preparer
The table of contents will have the details of the parts/sections of your business plan.
Supporting documents can include other researches done by you which can help the investors in understanding your business plan more.