30/10/2020
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HOW TO CREATE A BUSINESS PLAN
Yes, we are very much aware of the stress you undergo while trying to write a bankable business plan for your business. Also, the high cost of money demanded by business consultants to get your business done. But we are here to serve you better.
What do we really mean by Business Plan?
A business plan is a written document that shows the expected path of a business, it shows the vision and mission of the business, the financial expectations, the marketing strategies, long term and short term goals, etc of a business. It is just regarded to as a strategic road map to success.
ESSENTIAL ELEMENTS OF A BUSINESS PLAN
When creating a business plan, certain essential elements are to be adopted.
1. Keep it short and concise. You want your business plan to be read, yes? Keep it short. Nobody is going to read a 50-page narrative, trust me.
2. Keep your audience in mind. Okay, when writing your piece, keep in mind the type of audience it is meant for; Are they investors, loaning facilities, banks, etc? This way you know how to arrange with language, jargons, and acronym they are familiar with.
3. Start with the Executive Summary. An executive summary is the first section of a business plan, and should be written last. It is an overview of your company, who you are, your products/services, the target market, and then any other general information.
4. The business description. This follows the Executive Summary, and should state your overall mission, how the business got started, a list of key people that will manage the business, and then your view about how the company will grow.
5. The market description. You are to describe the market or industry, and its future outlook. Describe the need for your products in the market. Describe the target market, providing a good profile of your target customers( i.e age, income, s*x, etc ). Next, describe what share of the market you have,