How to write a perfect business plan? Your business plan is the foundation of your business. In this post, we will look at how to quickly write an efficient business plan.
How to write a perfect business plan?
A good business plan can be a good guide for you in all stages of starting and managing a business. You can use your business plan as a roadmap. The business plan provides you with all the information you need to know about the structure, implementation, and growth of your business; In fact, the business plan is the key element of your business.
A business plan can help you raise capital or a partnership. Investors will trust you by reading and viewing your business plan and will understand how their return on investment will be. Your business plan is actually a tool that you can use to convince people to work with you or invest in your company.
Choose the right template for your business plan
There is no right or wrong way to write a business plan. The only thing that matters in writing a business plan is that the business plan covers all your needs. Most business plans come in two forms: traditional and startup.
Traditional business plans are usually more common; Because these business plans use a fixed structure and each section also encourages the author to write in detail. Writing these business plans is more difficult and usually tens of pages long.
Startup business plans are not as common as traditional business plans, but they also have a fixed structure. The focus of these business plans is on summarizing the important points and key factors of the business. Writing these business plans takes less than an hour and is usually summarized in one page.
Traditional Business Plan Template
If you are a meticulous person or you are looking for an investor for your startup, it is probably easier to write a business plan in the traditional format. When writing your business plan, you do not have to enter all the sections from the beginning. Start with the part you understand best. Traditional business plans consist of the following nine sections.
- Executive Summary: Write a brief description of your company. State the reasons for the company’s success and mission. In this section you should provide information about the employees, the management team and the geographical location of the company. If you are looking for an investor, in this section you should give financial explanations and forecast the amount of income of the company if the business grows.
- Company Description: In this section, you must write detailed and detailed company information. Be sure to mention what problems your company solves; In fact, tell us what problem your business has come up with. Be careful and detailed and make a list of customers, companies and organizations that can use your product or service.
Include your competitive advantage in this section. Tell us what sets you apart from the rest of your competitors. Have you enlisted the help of professionals in your team? Do you have in mind the right geographical location to open your shop? The company description section is where you should state your company’s strengths and talk about them in detail.
- Market Analysis: To write a good business plan, you need to do a thorough market research and have a good view of the market in which you intend to operate. Market research shows you what other businesses are doing and what their strengths are. So do not forget the market research. Look for new trends and themes in your market research. See what your successful competitors are doing. Why have their activities been effective? Can you be better than them? You will need to answer these questions in the Market Analysis section.
- Form of organization and management: In this section, you should tell your reader what the shape of your organization is and who will manage it. Legal registration and information related to the company registration and start-up law should be written in this section. The type of company, whether it was LLC or LTD, should also be mentioned in this section.
You can use a pyramid or chart to show the shape of your organization. Write on this chart what responsibilities each person in the organization has. Use this chart to show the reader that the presence of each person in the organization is necessary for the ultimate success of the company. In this section, include the resume or CV of important team members.
- Provider service or product line: In this section, introduce the product or service you want to provide. Then explain how your product or service unties the knot of customer problems. What is the life cycle of your product? In this section, write information about intellectual property rights such as copyright law, etc.
- Marketing and sales: Although there is no specific method for marketing the product and this method is constantly changing, but you need to mention your initial plans and plans for marketing in this section. Your main goal in this section is to describe customer acquisition and retention programs. The route and method of selling the product should also be written in this section. Remember that in the financial forecasting section you should go back to this section and use this section as a source, so it is better to list all your marketing and sales methods in this section.
- Investing Application: If you are looking for an investor, you should describe your financial needs in this section. Set a goal for your needs and write down how much money you need over the next five years and what you will spend that money on.
In this section, write to your investor how you want the money and what your proposed payment system is, after how long you will return the money. Identify your needs and write down what you want the money for. For example, you want to buy tools and equipment with money, pay salaries or pay for company bills. Be sure to write down the company’s future financial strategies in this section.
- Financial Forecast: This section actually complements the previous section. In this part, you have to convince the reader that your business is sustainable and will reach profit and profit in a few years. If you started your business while writing a business plan, write down a number of your accounts and financial statements in the business plan. For example, if you have a loan or start-up cost to start a business. Write your company’s financial forecast for the next five years in this section. Estimate your installments, income, budget, and annual expenses in this section. Adjust these forecasts to match the financial needs you wrote about in the previous section. This section is where you can use tables, charts and graphs to show your expenses.
- Attachment: You can enter additional documents and information in this section. For example, bank account and credit history, team members’ resumes, referrals, certificates, and legal documents are included in this section.
Startup Business Plan Template
If you want your business plan to be quick, simple, and changeable, you can use the startup template to write your business plan. The Startup Business Plan template is actually a chart that uses various elements to describe Value Proposition, company structure, customers and. They use finance. These business plans are used to highlight the company’s business tips and information.
Many examples have been made for this business plan. But Canvas Business Plan is the oldest and most common business plan used in the field of startups. In the following, we will examine the important parts of the Canvas business plan.
- Key Parnerships: In this section, list all the companies or services that you can work with to start a business. For example, different suppliers, manufacturers or contractors.
- Key Activities: In this section, list all the ways in which your business can gain a competitive advantage. Mention points such as selling directly to the customer, or using technology to improve the market economy.
- Key Resources: In this section, write down all the resources you need to generate value for your customer. The most important things to write about in this section are employees, capital and intellectual property rights. If you have a specific view of a particular department or group in your business, such as women, veterinarians, etc., write.
- Value proposition: In this section, write very clearly and precisely the value that your company is going to add to the market.
- Customer Relationships: In this section, write down all the ways your customers can connect with your business. Are customers contacting you in person or online? Consider the entire process of your business and write down the types of relationships that customers may have with you.
- Customer Segments: In this section, specify your target market. Your business is not for everyone, so it is important to choose the people and the market in which you should sell your product.
- Channels: Make a list of all the ways you communicate with your customers. Most companies use multiple communication channels to communicate with their customers and then optimize each of these channels over time.
- Cost Structure: Is your company focused on reducing costs and adding value? Describe your strategy and then list the company’s costs in order of magnitude.
- Revenue Streams: In this section you should explain how your company earns money. For example, through direct sales, selling memberships, getting ads, and so on. Note that if your company makes money through a few of the above, you should write them all down in this section.