The business plan breathes life into the business idea and makes the idea a vision. A mature business plan or business plan should not only be done with the founding of the company. Rather, the business idea and the entire business model are subject to a continuous process and are being further developed. This process is recorded in the business plan and serves as a guide for the company. The following pages explain what you need to consider when creating a business plan and how the individual steps look.
How detailed the business plan should be presented depends on the project as well as the objective pursued. If the business plan is used to apply for funding within the framework of a business start-up, it should be a meaningful description that gives the reader a clear picture of the business idea.
Read: How To Write a Business Plan: 7 Step to Create Your Business
A prescribed length for the personal business plan or business plan does not exist. Also, the contents of a business plan are not defined. However, more intensive consideration is generally required when soliciting applications, which is why the number of pages is generally increased. A company concept is more likely to be a “permanent companion” for the company, since this is also to be submitted in the event of later financing requirements. You may wanted to know “Why a Startup Business Plan Is Still Worth Writing“
This is part of a business plan
The summary of the business plan
Each reader of the business plan initially obtains a first overview of the business idea. This first summary is for clarity and should therefore be kept very short. One and a half pages suffice.
Small tip: It is worth this summary to conclude after the business plan was written.
Related: 7 Basic Steps To Writing A Business Plan
Competition and market
One of the cornerstones of a business plan is to be able to identify the market environment in which the business idea is concerned. Is it a growth market? Or is it stagnating? What about market saturation? Are there many competitors? These and other questions should be clarified here.
Another important point in the business plan is to present the company’s objectives. It is the question to clarify in which direction the next few years are to go. A certain sense of vision should be visible. It was not for nothing that they made themselves independent.
So: What vision, which goal would you like to implement with your company. And what are the important intermediate steps?
Related: 8 Tips To Develop a Successful Business Plan
An important question in any business plan or company is the question of meaningful marketing. It is here to clarify to whom the company is actually directed – keyword target group. A clear demarcation of the target group is of crucial relevance here.
Furthermore, the price strategy and sales strategy must be assessed under this item. What is the price of the company?
Finally, the marketing section of the business plan describes how the target group is achieved. This is specifically about which advertising channels are to be used and why these are the best alternative for the respective business idea.
Related: Marketing Your Startup With a $0 Budget
How to Write a Marketing Plan: A Step by Step Guide
In the business plan, company organization is understood as aspects such as management strategy, company seat, legal form, production processes and employee management. The focus here is on the structural organization of the company to be founded.
Also read: 10 Common Business Plan Mistakes
Even if there is neither a business plan nor a business plan prescribed, a thing must never be forgotten and that is the finances. Whether the business plan is now written for the employment agency, a business plan contest or for the bank: each of these institutions wants to know how money is concerned. The expected profits and losses should be taken into account as well as the financing requirements. It is also necessary to clarify how the business idea is financed and in which period any loans granted are repaid.
Chances and Risks
In this part of the business plan, one’s own strengths and weaknesses are to be taken up. It is about presenting objectively where the company may have problems and how they can be mastered. At the same time, opportunities must also be properly understood.
A good business plan is characterized by objectivity in this classification. The founder can prove here that he realistically assesses the situation and is optimally prepared for eventualities.
If You found this article helpful, please consider to share on social media, so many other people may get helped.