How To Write A Business Plan

What Is A Business Plan?

A Business Plan is a detailed roadmap for your business. Wikipedia defines a business plan as “a formal statement of business goals, reasons they are attainable, and plans for reaching them.”

One thing can be told for sure is that there is no universal structure to write a Business Plan perfect for your business, which is why it’s generally prepared to keep the reader in mind. For example, a Business Plan written to impress investors is more focused on why the business model can be a great investment, whereas a business plan written for internal management may focus on a roadmap for building their product.

Keeping the above in mind we have consolidated points for properly structuring your business plan:

How to write a Business Plan :

1. Introduction and Company Profile:

The Introduction is something the reader is going to carry in their mind going through the entire proposal so make sure it stands out. Start out with a proper introduction and then move towards your company profile, its legal structure, achievements, etc.

2. Business Summary

Business Summary should contain a very brief description of what this document is all about. It should have a proper overview of all the important points present in the business plan. Make sure the summary is clear when you’re about to write a Business Plan since the reader generally makes up their mind about what the next slides are going to be if you provide a proper summary.

3. Business Model

We have broken up this section into three simple chunks to keep the B Plan simple and easy to process:

What Do You Want To Sell?
Describe your product or service here, write about what you want to offer as a product.
Who Do You Want To Sell?
Describe your market and the consumers here along with a proper Market and consumer analysis.
Why Will They Buy?
Make a proper assessment of why will you able to sell the product, and more importantly why do you think your prospective consumers will buy your product or service.

4. Business Operations

This section will describe how you as a business are going to operate, which we have structured in the following way:
How Will You Build The Product?
Give a proper description of how are you planning to build your product, or how are you going to improve your product.
How Will You Market The Product?
This section should have your marketing and branding strategies, what is your USP (Unique Selling Proposition) and how you are planning to market the product.
How Will You Sell The Product?
This is where you describe your supply chain and how you are planning to meet your consumer demands.

5. Financial Projection and Analysis

This section is where you put up your financials together, your financial projections, projected costs, and cash flows. This section is nothing to be fiddled with and should be left to be crafted by a professional. It should contain financial projections, cash flow statement, pricing strategy, and ratio analysis, SWOT Analysis, Market and Competitor Analysis.

6.Your Team

Irrespective of your product, business model, your team is your most valuable asset. Make sure you give a proper description of your team, their qualifications, achievements, and how they are an important part of your organization.

7. What-if Scenarios

This is not a mandatory section but is recommended to have what-if analysis for all positive and negative outcomes. This section is generally required to give the investors an exit or an alternative strategy.

8.Credits/Reference/Source

It’s a good practice to have this section; it should have proper references and source links for case studies or documents used for preparing this business plan.

Following are the three golden tips to write a business plan:

1. Keep It Short and Simple
2. Make Use of Visuals and Illustrations
3. Don’t Overstate the Facts

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