Business planning is fundamental to success in business. It is the key to getting things done and making things happen. The finished business plan becomes an operating tool that will help you to manage your business and work towards its success.
Planning is the most crucial yet often overlooked aspect of starting a new business. Proper business planning can literally make or break a new business, so it is wise to take the time to develop a foolproof business plan to maximize your chances of success. Your carefully designed mission statement, pricing objectives and marketing plan are three tools you will find invaluable during your business planning stage
The business plans cover the following sections:
1.) Executive summary, Mission and Vision, Key success factors, Business model summary.
2.) Company Description Business model canvas, Operational model, USP (UNIQUE SELLING PROPOSITION), Organizational structure, organogram, Business risks.
3.) Situational Market Analysis, Trends, Challenges, Target Market Segmentation, Porter’s five forces of profitability, SWOT.
4.) Growth plan
5.) Marketing plan
6.) FINANCIAL PROJECTIONS
7.) Key Assumptions, Financial summary, Projected Income Statement, Projected Cash flow, Projected Balance sheet, Loan Schedule, Financials Analysis.
8.) Business Ratios and Infographics).