The article touches upon the issue of Content Of A Business Plan. If you plan to start a business and do not have a well-structured business plan, it means that its time you wake up and concentrate on the first and key aspect of your business. A well-structured business plan will help you reach your business goal, attract funding from various sources and also act as an effective business tool.
There is no magic recipe for a business plan. However, it is important to have a realistic and well-meaning content that will immediately attract your audience and help you understand how to run the business effectively. The content of the business plan has to be forceful and rich, yet it should be written in a clear and simple format. Let us explore the typical content of a well-written business plan.
This page contains the name and logo of the company. Apart from that it will have the list of key contact person/s, contact number and location of incorporation. It is esentially the start of the business plan. Finally it will have the statement of confidentiality. This page is followed by a table of contents, from where readers can refer to the various sections of the business plan.
This is the first part of a business plan and sums up every thing about the business. Investors, lenders and anybody who is interested to know about the business usually reads this part. It takes the maximum effort to prepare the content of this section. A good executive summary is like making a great first impression.
The body of the business plan
– The body contains a number of essential sub topics, the first one being the background and objective of the business. It also contains a brief overview of the company, the current position in the market, the products or/and the services of the company.
– The second step is the market analysis containing an examination of the market in general, the segment in which the company is operating, competitor analysis as well as sales forecasts. The next sub topic includes a brief on the Marketing strategy along with a contingency plan.
– The third section gives an overview of the current financial position of the company, the various cost-control measures and a note on the financial projections.
– Fourth, the management team including the key personnel, other staff, directors and the advisors. It is important to elaborate on the experience and responsibilities of the key personnel.
– Fifth, a small yet very important part is outlining the potential risk factors involved in doing the business. This may include unforeseen economic, social and political adversities, technological failure, sales/production deadlines not met and capital crunch, among others.
The business plan should have a conclusion including future plans and developments, request for funds, appendices containing photographs of products/services, survey results, flow charts, press releases and other interesting elements.