Business plans and proposals are central to the success and focus of many businesses, and many business consultants would warn that you don’t go into any business without a solid business plan in place. It is the map of your business and it guides you to direct your business on the chosen path. But it could take some work and effort to write a detailed and self-serving business plan or proposals that sell, and this is because of the purposes served by both to work out the successes or otherwise of any business venture. In fact, business plans set out a detailed 3-5 year course plan on what a company needs to do to grow its revenues and how a company is going to execute these strategies. Now, considering the importance of these documents, many new business start-ups would hire a professional and experienced business writer to write their business plans and proposals for better results.
To create your business plan, the following are some of the things you’d want to cover – depending on your kind of business and objectives among other things:
a. Executive summary
This section details the company’s goals and its corporate profile. It also gives an overall view of the whole points that the plan would soon cover. This gives a hint on what the business plan will contain and cover, and other general goals that the company is targeting through the document.
b. Company description
This section gives background and future information about your company, and it outlines other major services and focuses of your company. It outlines what your company is and what makes it different from its competitors; and it also details the company’s products and services and gives insight into its target consumers. Sometimes it might also offer some insights into the profiles of people behind the company and their qualifications.
c. Market analysis
Under this part, you give a research report or brief on the industry your company is serving and also provide analysis into your markets and competitors. You want to understand your niche or consumer industry before jumping into business, and you’d want to research your consumer market and analyse your competitors to know their strengths and weaknesses and how their competition stands relative to your company.
d. Organization and management
Here you would want to state the organizational structures and management structures of your company. No company is organized or structured the same, so you might want to give briefs into how your company is structured in terms of organizational management chart of authorities and responsibilities.
e. Service or product lines
Here you go into what your business or company does and how this serves the needs of prospective consumers. You tell about your products and services and how they could benefit consumers and how the products and services can pull their own weights in the market. You might also mention their life spans or cycles so that projections could be made into how well they can stand competition in terms of durability and values.
f. Marketing and sales
This tells about your marketing strategies and how to increase or boost sales revenues. How do you intend to sell or market your products and services and how do you intend to sustain these campaigns? How do you price your services and products to maintain a margin without undercutting yourself and what are the marketing and sales resources in place?
g. Funding request
This might be the juncture where your business plan might complement your proposal. Proposals are always tailored for funding or partnership or some other requests, and to give a hint of this in your business plan, you must research the funding options available to your kind of business and how to explore them.
h. Financial projections
Investors and business assessors want to know how your business plans on making money, and you might outline this if you are also asking for funding from people. You should give a projection into your financial incomes and when people see how viable or realistic these projections are, then they see themselves getting involved with your business ventures.
An appendix is not always compulsory, but if you have any additional information like business registration details, government permits, property leases and other extraneous details, you might bring them up under appendix.
j. Make your business plan stand out
Here you include information and facts about your business structure plan that make it stand out from others in its category. You include details that give your business plan more visibility and better its chances of acceptance from relevant persons and authorities.