Business Plan

Business Plan: There is a business plan at the genesis of any business project, creation, or takeover. This written reference document makes it possible to formalize the project and the creation process. It generally establishes after evaluating the viability of the project, which it demonstrates in a structured way.

The Role of a Business Plan

An essential document for any creation, takeover, or development project, it explains the project’s uniqueness, its various commercial opportunities, and the action plans to implement. It translates its implementation into financial terms—the necessary needs.

It is a reference document that will accompany the creator and the entrepreneur in his project on the financial, commercial, and strategic goals. And, It will thus make it possible to determine and justify the project’s reliability and profitability.

Therefore, it plays a crucial role in defining the project’s objectives, management, and outreach to potential investors and financiers.

The Business Plan: a Management Tool

It must accompany the entrepreneur and the creator during the development of his project and a posteriori of the primary stage, which is the creation. It must define the various objectives in the more or less long term and can thus use as a real roadmap.

An essential measurement tool, this document will allow the project leader to establish a budget, analyze its evolution and the various data collected at the different stages of development, and provide an accurate reference to compare reality and its forecast estimates.

The usefulness of the Business Plan in the Search for Partners and Investors

A real showcase for a creative project, It is a document that should not overlook, as it will be of great use in the search for financing, partners, and investors. Indeed, it must contain the different arguments, the singularities of the project, and the strengths of the creation and development strategy.

The success of funding requests and fundraising will depend on their quality. It is, therefore, necessary to take care of your business plan, because, beyond its internal use, it will be a question of transmitting the document to potential investors. This document’s purpose is not only to inform but to seduce.

Structure of a Business Plan: Some Advice for its Creation

Unfortunately, there is no miracle recipe or standard plan, but some essential principles and information can help the entrepreneur to produce his business plan.

Among the points that must necessarily address in the business plan, we find:

  • The market study, key figures, current needs, and competitive positioning
  • Nature of the project, its structure, its context of creation, and origins
  • Current human resources and presentation of the management team – an essential point not to be overlooked because a team is the lifeblood of a project
  • Economic model or business model
  • Marketing and sales strategy
  • Estimated budget and objectives
  • Description of financial needs, financing file, and presentation of investment opportunities.

This section is presented as a summary of its vital elements and other essential data. It should be placed at the presentation’s start and should not exceed two pages as usual in practice. It is also strongly recommended, even essential, to include an executive summary (also called an operational summary) within your business plan.

When writing a business plan, you should also think about the following principles:

  • Highlighting the uniqueness of the project
  • Simplicity in its presentation for a comprehensive presentation
  • Make it concise while remaining exhaustive

Note that there is now software to create your business plan. Using a professional tool guides the entrepreneur in the first stages of his project.

Also Read: Business Management – The Fundamentals Definition