This is a document where the sequence of business development is determined, its working model is formed, a market analysis is carried out, a financial and marketing plan is prepared, and goals and activity forecasts are identified.
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Without a plan, you can start a business and develop it, but it is impossible to attract outside funding:
A bank, state, or investor will not provide funds if, in return, they do not receive a strategy for developing a business and making a profit.
Let us clarify that to obtain a loan from a bank, you do not always need to provide a business plan. Sometimes, accounting is enough to attract funds. Usually, a plan is necessary to start a business, expand it, or open a new direction.
It must be drawn up based on the characteristics of the business and the goals of its leader. There is no specific fixed structure of a business plan, but there is an approximate one from which you can build.
If necessary, sections can be added and some removed. It is important that the plan is consistent, can form a clear picture of the business's activities, and helps the entrepreneur make decisions more confidently. Using a writing assistant can further streamline the process, helping to ensure your business plan is clear, concise, and professional.
Some platforms can provide valuable insights and data, enriching the business planning process and enhancing strategic decision-making.
It's worth considering the resources offered by Grata vs Pitchbook, two prominent players in the venture capital and deal-sourcing arena. We should note that banks and investors can put forward wishes for the content of the business plan and offer to draw it up according to their template. All this needs to be discussed individually in each case.
For an existing business, the summary should reflect the following main aspects:
The text should be short, without vague wording, and concise. This section can be entrusted to copywriters with experience in writing business plans. It is important that the summary appeals to investors and lenders so that they are willing to take the time to study the plan in detail.
Startups need to focus on leaders. It is important to talk about the motivation for starting a business, plans for its development, and personal experience. The summary should be written last when the rest of the business plan structure has been prepared and filled out.
The first step when drawing up a business plan is to structure information about the enterprise. For example, if this is an operating organization, then it is necessary to analyze its full or partial activities and provide data:
After reading this section, an investor or lender should understand what the organization does, who its final product or service is for, and how it takes its market share.
In a business plan, the market analysis section is important. The information received makes it clear whether the organization has prospects, whether its activities are relevant, and what results can be expected.
Information about the company's organizational structure, owners, and management is disclosed here. Additionally, specialists whose experience and skills play a key role for the company in achieving its goals are highlighted.
This section in the structure of the business plan consists of information about departments, their tasks, experience, and level of training. Also, it includes information on wages, social packages, benefits, and incentive measures.
Obviously, the key factor for an organization is the final product. It is necessary to provide information about it, highlighting the benefits for the audience and competitive advantages. The description of the product or service should be detailed, clear, and concise. There is no need to write that it is "the best," "unique," and "in demand" without appropriate evidence.
You need to provide a strategy for promoting the product in the market and gaining an audience and market share. This requires a marketing plan. It is impossible for an entrepreneur to correctly draw up a marketing plan without the appropriate skills and experience. To do this, it is better to use the services of specialists.
This section is necessary to attract external funding. It is important to disclose the amount of funding required to implement ideas in the business plan.
Financial results are the most interesting section of a business plan for investors and lenders. It shows when and in what volume the invested funds will pay off and begin to pay dividends.
You can insert more detailed information into an appendix, which is given in the main sections.
Remember that a business plan is one of the tools for interacting with an investor or lender. Keeping their interests, criteria for evaluating investment projects, and behavioral characteristics in focus is essential - only then will it be possible to build interaction.