If you are in the midst of getting investors on board for your next project or even a startup, then you need to write a business plan. While you may not be a writer yourself, knowing the ins and outs of what it takes to be a writer will take you far.
A business plan is super important because, as a document, it outlines the financial goals of your business and what steps you plan to take as a leader to achieve those steps. A good business plan should plan out the next three, five, or, even ten years for the company. Once it is complete, then you can show it to investors and other business partners.
Here is a step-by-step process to writing your plan.
Start with the Summary
On the very first page of your business plan needs to be the main summary that gives an overview of your plan. It includes a mission statement, a small and brief description of your products and services offered, and a somewhat broad approach to your plans relating to financial growth.
A good tip is that while it is the first page, it should be the last one you write. Because it is the first thing that they read, it needs to be perfect. So, write everything out so that you know all of your statistics and logistics. An investor’s business plan needs to include everything. Then, you can write out the summary with ease by just highlighting the information that you researched and have at hand.
Describe the Company
Then include the write-up description of your company. This involves information regarding the registered name of the business, the address of your business, and the names of key people in the business.
With key individuals, write out their unique skills and what makes them valuable to the team.
The description of your business structure is also very important. This refers to the ownership of the company, the percentage of ownership of the business, and what the owners bring to the business. This business structure can be visually mapped using online flow chart maker or other visual graphic tools.
Otherwise, you can describe the specifics of your project or a startup to professionals and order their business plan assignment help. Their main goal is to help such entrepreneurs to create selling and attractive business plans and get desired funding.
Finally, you give the nature of your company and the history behind the business.
State the Goals
The third segment of a good business plan is the statement aspect. This means you tell exactly what you want to accomplish with the business in both the short term and long term.
Now, if this is for an investor for instance, then you can highlight this section with why you need the funds and how you plan to use them. It also tells the investor how funds will grow the business. It is key to provide a clear and concise explanation of how the investment or loan will be used.
Describe the Product
This segment refers to the deep detail of your products and services. Explain what makes the product or service work. Along with this, let them know what the price, demographics, supply chains, sales strategy, and distribution strategy.
Note if you are able to discuss pending or current trademarks that are associated with your product or service.
Do the Research
Investors want to know what makes your product or service special compared to the competition. In this segment, explain who the competition is and discuss how you can do better.
Or, if you are in a more niche industry, then you can explain why you are helping an underserved market.
Outline the Marketing
This part refers to the plan of persuading customers to buy from your business. You can also write out about developing customer loyalty and how you plan to retain customers.
Perform the Financial Analysis
Next, you lay out the business financial analysis. This part refers to the income, assets, debts, profit-and-losses statements, and cash flow statements. These show how the cash goes in and out of the business.
This segment can also include net profit margins, current rations, and accounts receivable turnover ratios.
Make the Projections
This is one of the most critical aspects of an investor’s business plan, especially if you seek financial assistants from investors. The financial projections outline your business on how it generates profit in order to repay loans.
Here, you will write out the sales of the month or quarter, expenses, and profit estimates over a three-year period. Be sure to make it accurate and realistic.
Add the Extra Info
Finally, at the end of the plan, you can provide an appendix of additional information and support materials that you weren’t able to place anywhere else in the business plan. This refers to things like permits, resumes, leases, bank statements, and more.
Most of the time, a lot of information is included. If that is the case, it is best to write out a table of contents at the beginning of the business plan. The more organized, the better.
