A business plan is one of the most important documents that is needed for the improvement of the business. It offers all the need to know strategies, marketing techniques, sales techniques and financial projecting methods which will be used to increase profits and revenue of the business. However, writing a business plan is no walk in the park. It takes a lot of time and Geoff Bainbridge concentration and is one of the biggest responsibilities which will be undertaken. For this crucial task there are dedicated people called business plan consultants. They will be the people who take the ideas that the entrepreneur has and turns it into a document which will be watchable by the world. Since this is a very big responsibility business plan consultant fee is a bit high. There are many factors that affect a good business plan and a great business plan will help the business clarify the business idea, identify potential problems in the business, find out objectives of the business and monitor the progress of the business. Since this is a very important document it is vital to keep an enthusiastic eye on the following factors when writing the business plan.
The executive summary is the highlight and the brief description of the entire business. This has to be highly detailed but short enough so that a potential investor is able to read and understand the status of the business. It does not mean that it has to be limited to one or two pages.
The executive summary should include the highlight of the business concept which will describe about the service or product and the market that they are on offer. Then there are the financial features which references all the sales, profits, return and cash flow. Then the summary has to mention about the financial requirement that is need to buy the business and talk about money and how to expand the business. The current position of the business will be stating about the business’s present state and how it got here. Finally, the major achievements of the business is necessary to be mentioned so your potential investors could be impressed by the achievement that the business did.
The business description is about the details of the business. This should not be a highlight about the entire business like the executive summary but the in depth analysis of the business. The description has to begin with a short introduction which states about the past, present and future of the industry. Here you should mention about the markets that the business will be getting together with and the future market places that business will be happy to interact with. The products that the business is still developing should be thoroughly discussed here so your potential investors who have got an idea and are willing to invest in the business can get good knowledge about it.
The structure of the business has to be described in the business description. The power structure of the business and the business places should be described in more detail. The legal considerations of the business should be thoroughly stated so that there is clarity for everyone.
When developing the market strategies there has to be a lot of general market trends done on the market place. This will give the business entrepreneur a good idea about the potential market and how he can use the market to increase the gains of the business. After noticing the market the company will be in a position to identify the strengths and disadvantages of the business and will be able to create a system in order to identify the potential opportunities and dangers. These studies will also be able to develop strategies to predict the market place’s prices and when to produce more goods and services. These has to be clearly mentioned in the business plan so that these strategies can be used when necessary.
Pricing and Distribution
The process of pricing and distribution has to be clearly detailed in the business plan. The descriptions about all the prices must be mentioned in more detail in this section. How the business can lower the costs when necessary and how t interact with the fluctuating prices has to be mentioned in more detail. The process of distribution of the products until it reaches the hands of the customer has to be clearly stated.