Not only to attract investors, a good business plan is needed for every entrepreneur to make effective strategies for the company. The business idea is incomplete without a BPlan. So if you are thinking of starting your own Start-up then first develop a well designed BPlan. Here are the procedures to create a good BPlan.
1. Executive Summary
The first glimpse of your business idea is included in this section. It should be around 1-2 pages long and should give a brief summary of your business plan and your goal. The overview of the business like the objectives of your business, your product details, marketing strategies, possibility of growth in the present and future market, ownership structures etc.
2. Business Description
The complete overview of the company is written which includes your vision, target market, advantages of your business, what makes your business different, future plans, marketing strategies etc. The description starts with an overview of the industry. Your business description should try to focus both on the present and future market.
3. Product or Service Details
The complete details about your product which includes what is your product, why this product, design and development of your product or service, how targeted customers will be benefited by your product or service, method of selling, pricing, profit expected etc.
4. Market Strategies
Before starting your business it is important to analyze the market, your target audience and the completion which you will face. The market strategies of your company provide an entrepreneur the overview of all aspects of the market. This section will include details about your product or service, marketing tactics (including internet marketing methods), how will you sell your product (online or offline methods), what makes your product different etc.
5. Operation Plan
The part of the plan is developed to describe your management team, process of running the business, production plan. It should highlight the various responsibilities of different segments of the management team, capital needed to run the business, day-to-day operations.
6. Financial Plan
Though this is included in the last part of BPlan but it’s one of the most important parts of BPlan and also consumes maximum time to write. It includes income statements, projected financial statements, cash flows, capital management, future expectations, financial strategies. If your company is running for some period show your company’s financial statements. Including graphs will help a lot the reader to understand better and faster.
7. Funding Request
If you are searching for investment in your business you can include this section. It focuses on the capital needed, profit expectation, time of growth, methods of funding etc.