What is a business plan?
Any written document that describes your future planned business is a business plan. It explains what you plan to do and how you plan to execute it. You are here today with certain ideas and resources, you want to get somewhere, let’s say in five years time at which your business will have different sets of look (increased resources, abilities as well as greater profitability). Your business plan will show how you will move from (here) low resource to achieve increase in resources, abilities as well as profitability in the next five years (there).
Now, you want to startup a business that you want individual, companies, organizations etc to invest on. How will you write a business plan for such a business?
Writing a winning investor’s business plan
You’ve finally decide to write a good investor’s winning business plan and you’re ready to get started, Congratulations! This is stepping stone to your chances that your business will not grumble.
Before you drafting your plan, you need to do one thing…..
Plan your draft.
If you fail to plan your draft you will be held responsible for all projections and proposal. A good business plan should be able to include all necessary project you intend achieving in near future whether it will be achieve will be a matter of circumstances.. Lot of ideas and strategies can run in your mind as you write down your draft.
Write your business plan
Now, you start writing the plan; ask yourself these questions;
What are your goals and objectives of the business?
This is part of accessing yourself on the business you about to start or you are already running, to evaluate your chances of achieving the end. Imagine you’re sitting on your well made coach now, close your eyes and ask yourself; where will be our next five years in this business, will I be running business that has sized to increase on return or will I have be having case with banks already. Will I be attracting 70% of my prospective investors or will I have a nut-to-crack with those that invested.
If you can answer this questions then you chances of success is high. If you don’t know where you are going then you will never get anywhere. Now is time to explode, take a bit off-disassociate yourself, let your mind roam. Try putting down all that runs in your mind in form of an essay, letter or composition. After writing down your business plan draft, it is now time to package it
PACKAGE YOUR BUSINESS PLAN (SAMPLE TEMPLATE)
Cover page (title page)
This contains your contact information so that your potential investors can easily reach you.
Concisely describe what your business does and what market need it solves of critical important. Give 4-7 reasons why your business will be successful. Show your top line financial projections and amount of money you are seeking to raise from investors.
Give the profile of the company. Give the location of the company or business. Where you were from, how you how you have been existing, and legal entity form. Also discuss the stages of your company, what success has your company already recorded.
Give the detail of the market in which you are competing, how large it is and what trends are affecting it
Identify your customers and their needs. Get as specific as you can with regard s to the demographic and psycho-graphic make up of the customers.
Identify your competitors, their strength and weakness. Identify your competitive advantage; show how you can be more successful.
Show your promotional plan, advertising plan and distribution plan of your products and services.
Show how you plan to run the business or how you’ve been running the company. Give the detail activities of the company and how they operate.
Organization and Management team
Give the full details of the organizational or managerial team, the principal owners and key personnel.
Financial Plans and projection
Highlight the important financial point of your business including sales, profits, cash flow and returns on investments. Capital needed to start the business and expand. Show detail of how the capital will be use, and equity, if any that will be provided for funding. If the loan for initial capital will be based on security instead of equity, you have to specify the source of capital.
Here is a recapture of summary headings of your investor’s winning business plan;
• Executive summary
• Company description and overviews
• Product and services
• Market analysis
• Strategy and implementation
• Organization and management team
• Financial plan and projections
very helpful article, now i know how to do about writing my business plan for starting my pharmacy, i already have an online pharmacy jst need to have a physical location for it and that requires alot of capital, so will need to attract investors