For the creator of a company, the business plan is a very expressive weapon. The construction of the whole company depends on it. It allows the promoter to justify his project’s implementation, set objectives, and define a dynamic strategy. When the creator realizes this business plan of the company, it presents at all levels more reliability. Here is how to make a business plan.
Present the Project in General
Although it is a crucial step in realizing the business plan, it is necessary to be brief in its presentation. It is advisable to speak briefly about the project and what it consists of. Without giving a detailed exposition, you should talk about :
-The sector of activity and the potential of the project;
-Give some clues about its nature;
-Explain the proposal.
You should also present the team with which you are implementing the business project. Indeed, the point about your collaborators can bring more points, and it is necessary to gather the right collaborators.
Do a Market Study
In your business plan, you must talk about the market you are targeting. It is not advisable to target a common area. It would be best if you put forward a study on the possible competitors and the types of customers you will have to deal with. In this study, it is recommended to make a detailed presentation of the different customers targeted by your project. Your study should also focus on the frequency of their needs, main motivations, and consumption habits. Several other criteria are included in this study that must be meticulously carried out.
Define the Positioning of The Service and Product
The positioning of your company defines, in large part, the success of your business. Intrinsically linked to the previous step, the positioning of your company allows you to circumvent the vagaries of competition better and give value to your business project.
Indeed, the proposal of your service and product offer is much more influenced by the geographical location in the sense that it allows you to:
-Satisfy the criteria of choice of your customers ;
-Meet the needs of your target customers;
-Differentiate from competing offerings.
The information related to your positioning considerably enhances the quality of your business plan.
Define the Objectives and the Action Plan
What are your company’s objectives? What is your action plan? You need to answer these questions in your business plan. If necessary, you can quantify these objectives by segmenting them according to well-defined periods.
Indeed, an objective must be measurable and defined in time. That said, it is important to be logical in setting goals so that they are easily achievable. In this section, you can also talk about your needs. A well-documented study must support them, and you should mention the needs of your suppliers. All this facilitates a fairly accurate estimate.
Specify the Nature of the Business and Its Financing
In a business creation project, you must mention in the business plan all the information concerning:
-The location of the premises
-The legal status ;
-The financing of the project;
-The chosen tax status.
All this information is helpful for the validation of your business plan. However, it is also useful to make a forecast to anticipate possible setbacks.
Validating the Business Plan
Before validating your business plan, you need to define your positioning and your offer to future clients. This step is essential and allows you to finalize the steps of creating your company. The second step in validating the business plan is to validate the financial aspect. It is necessary to seek the opinion of a chartered accountant. He is the only one able to detect possible errors and proceed to validate the global plan.