Write a Comprehensive Business Plan
When Do You Need a Business Plan?
To know where you stand and how to move forward as a new business
To apply for fund – raise fund
To apply for immigration via startup programs
To apply for Visa in some countries as a business entrepreneur
What Does The Business Plan Include?
The Good Business Plan includes a lot of data about your business, below the most important sections that are included in a well written business plan.
1. Executive Summary
The executive summary should appear first in your business plan. It summarizes what the business plan have. A good executive summary is compelling. It describes organization’s mission statement, along with a short description of its products or services. It can as well explain why you’re starting your company and include details about your experience in the industry that you’re entering.
2. Business Description
The organization description includes the information about your goals and the target. In this section you should explain why your company stands out from other competitors in the same industry and break down its strengths that made your barrier to entry thinning.
3. Market Analysis
In this section, you should analyze the market that you are entering for a new service, product. Specify the market you plan to enter. List the strengths that you highlighted in your organization description with data and statistics that break down industry trends and themes. This section also must contains analysis about your target customers — how much money they make, what their buying habits are, which services do they want and need and already use, and what your business can do better serving them.
4. Competition Analysis
Competition analysis section shows the list of competition, what they do and how to:
- Identify gaps in the market
- Develop new products and services
- Uncover market trends
- Market and sell more effectively
As you can see, learning any of these four components will lead your brand down the path of achievement and will get you the fund you are looking for.
5. Description of Management and Organization
Your business must also explain the way your company will be setup. Summarize how it will be registered and where, the legal implications that follows, tax terms that will be applicable or exemptions if any. Describe the team, management, management style and hierarchy of reporting and the system that will be applied to employment and recruiting, you can be brief or detailed as much as you know, if you are going to hire a consultancy firm to do the work, mention that as well and do not forget to add its estimated cost in the financial part.
6. Action Plan
A break down of an action plan might be optional to some people, but if you are applying for immigration or a visa as a startup owner or asking investors to fund your idea, you should include a detailed action plan in your business plan to show a timeline of your executions for every step of the business. Premises location of the business and hiring the right team and operational details should be included in your plan in order to give the reader a clear idea about your agenda regarding the upcoming business.
7. Marketing Plan
Main points discussed in the marketing plan:
Estimated marketing budget
8. Financial Projections
This final section breaks down the financial goals and expectations that you’ve set based on market research. You’ll report your anticipated revenue for the first 12 months and your annual projected earnings for the second, third year of operation.
If you’re trying to apply for a fun from your government or applying to get a business visa or a startup residency, Contact us to help you curate the perfect business plan for your idea.