We help entrepreneurs and business owners draft a detailed business plan. The business plan may include different components depending on the objective and current stage of the business. It will usually have a detailed market study including the market potential, study of the competition, revenue model, SWOT analysis of the business, business strategy , pricing, timescales, financial analysis, action plan.
Why do I need a business plan?
As an entrepreneur or a manager responsible for taking strategic decisions business plan is of paramount importance to you for two main reasons:
1. Internal Use : It gives you a current assessment of your business as well as a roadmap for the future. Hence it enables you to make strategies that will help your business to grow in a structured manner.
2. External use : It is essential to have a scientific and professional business plan in order to secure financing, ranging from a bank loan to venture capital/ Private Equity funding.
Internal Use : Some of the internal uses of a business plan are
Business Plan clarifies objectives
Business Plan provide a sense of direction, purpose and urgency
Business Plan ensures that all aspects are planned nothing is overlooked
Business Plan provide a checklist to help run and control the business
Business Plan helps to monitor progress and success of business over time
Business Plan Improves motivation and communication
Business Plan helps in allocate responsibility
Failing to make a Business plan makes an organization reactive to outside events, vulnerable to threats from competition and closed to opportunities
External Use :The business plan describes out the market opportunities the business intends to exploit, how it will do so and what resources are required.
Some of the External uses of a business plan are to
Persuade people to invest in an enterprise
Convince creditors about the credit worthiness of the enterprise
A Good Business Plan :-
Demonstrate the lender/investor has a good chance of being repaid or getting a good return on their investment
Build confidence about the firm and owners’ capabilities
Demonstrate that there is a good market for the product or service
Key Components of a Business Plan
- Executive Summary
- Startup/Company Summary
- Product & Services
- Market Analysis
- Competitor Analysis
- Consumer Segmentation
- operation Plan
- Financial Analysis
Please let us know how we can help you.