Any successful entrepreneur will confirm, that one of the most important things in a correct business management is a thoughtfully put business plan. This document outlines all of your original ideas – what is your business, where you see it going and the way you see it achieving those goals. If you are confused and you can’t even imagine, how to put it all together just right, don’t worry, here is a step-by-step solution of your problem. Become successful with Jiji!
1.Select the right type of plan you will use
All business plans share common objective, but there are some types, which determine some aspects of structure of the business plan. Here are three major types you could use:
–The presentation plan. Intended for someone outside your business, this plan is usually written for investors. The emphasis is made on the marketing of your idea.
–The mini plan. Usually much shorter, than the other ones, the mini plan is mostly useful as a starting point. It will help you to determine potential interest in your business.
–The working plan. This type’s main purpose is an exact planning of your future building and operating your business.
2. Use the common structure of the business plan.
As a document, business plan doesn’t really have the one and only right structure, but there are some common principles of putting it together. Divide it into sections, format section titles in roman numerical order.
- First section should contain a short content of your future project, your main ideas and conclusions. Be short, use 6-7 sentences, this section’s only purpose is to get an attention of the reader.
- Next part of your plan – the description of your project, identifying its target group and market needs.
- Marketing analysis should be next. Explore the market you’ll be operating within, main information you should look into – your target market and your main competitors.
- Next section you should include – key personnel. Talk about the experience and expertise of your crew
- Describe your product (or service). Include, what’s special about it, how will it benefit your target group and what’s the difference between your product and the product of your competitors.
- Make a marketing and sales strategy. Make sure to include all the tools and means you intend to use to penetrate the market and spread your product more effectively.
- Include a funding request, if you use the presentation type of plan.
3.Don’t be afraid to ask for a professional help.
If you don’t have an appropriate education to make an effective marketing analysis or marketing strategy, it would be better for you to get some help from somebody, who does it for a living. Good business plan can make you a lot of money, so don’t be afraid to spend some money or it.
4.Include more factual information, better in a form of image.
Use graphs and charts to make your point. This way you will not only capture the attention of your potential investors, but also will make your point more clear and obvious.
5.Carefully edit it.
Grammatic and/or structural errors will make your plan less compelling. Revise it for a few times, read it out loud, make someone else proofread it.