The article gives you information on How To Write A Business Plan. A business plan should be written keeping in mind the goals that the company is set to attain. Whether it is prepared to convince the internal management team or the venture capitalists, it has to be written in a well-structured manner, outlining all the essential elements regarding the business- objectives that are challenging but attainable within a specific period of time. There are certain things that need to be considered when writing a business plan. These include:
Length of the plan: It is important to consider the length of the business plan. Although the length may vary from one company to another and the purpose of the business, it ideally should not be more than 25 to 30 pages.
Language usage: The usage of language should be plain and simple at the same time outlining the technical details. Generalization of facts and use of jargons should be avoided at all costs.
A striking executive summary: This is the most important section that needs to be written in the most persuasive manner. It is often written in the end and summarizes the overall business plan. This is what attracts venture capitalists, prospective clients and other stakeholders in the company. It should not be more than 2 pages.
A crisp table of contents: This part need not be elaborate. It has to be kept short and clear as each point needs to be explained in the subsequent sections.
Overview of the company: Here a brief history of the organization, its objectives, activities including products and services need to be outlined.
Product or services: This needs to be clearly explained so that even a layman is able to understand the plan. The USP of the product or the services need to be explained. The stage of development, upgrades, availability, patents achieved/pending and even prices of these products or services needs to be mentioned.
Market analysis: This is an important part to convince the venture capital firm. The products and services analysis has to be clearly written. This will help in the understanding of the market positioning and opportunities, competitor analysis, sales and distribution channels, potential customers, pricing and promotional strategies, such as advertising and public relations.
Management team: The quality of management has to be demonstrated in the plan. The plan should feature management team, their strategy, business acumen and what they can contribute to the company. A comprehensive plan should highlight the previous track record and success stories of the team members. It is important to list the advisor and board members with the help of an organizational chart.
Financial details: the financial aspect of the business plan has to be written such as profit and loss statement, company’s prospective turnover in the next 3-5 years, operational and capital expenses, budget allocation and so on.
Even though you may come up with a well-written plan, there should be enough scope for modification and improvement for business efficiency at a later stage.