Writing a business plan often seems complicated to entrepreneurs. Most of you usually don’t know where to start, what to include, or where to find the information.
This series of articles on the topic of how to make a business plan aims to answer all these questions.
How to Build a Good Business Plan?
Are you wondering about the key elements to integrate and the mistakes to avoid for an effective business plan, and who will convince your potential partners to support you in the realization of your business project? Here are some key tips.
A Promotional Tool to Convince Your Partners
The business plan is the sales pitch for your project. All readers (bank advisers like everyone else) need to quickly understand your business plan:
- Keep it simple and documented, explain all your calculations;
- Emphasize the needs that your offer meets;
- Give the information expected by the reader: who you are, why this project, how you are going to earn money;
- Comment on the tables of figures and be realistic in your forecasts: you must be able to justify each of the figures for the “expenses” part, your market study supporting the turnover part (number of potential customers X number of products X price sales);
- Do not shy away from and anticipate the probable difficulties and risks of the project, this will reassure your partners about its solidity;
- Take care of the writing (spelling, visuals, diagrams, etc.);
- Focus on quality over quantity. Count around 20-30 pages of Word maximum + the numbered part and appendices if necessary;
- Present several hypotheses for the development of the project.
Key Points of the Document
The business plan is the result of the maturation of your project and the explanation of the decisions you want to make. Your file must be structured around five main themes:
- Your project;
- Market research;
- Your products & services;
- Your strategy;
- Your financial data.
Get Help to Write It
If you feel you don’t have enough perspective to highlight the strengths of your project, you can ask a third party to help you write your business plan. However, do not outsource the studies prior to writing the business plan: these are all steps that can inspire you or influence your strategy. Once you have
Worked on the market study and the positioning of your offer, you can contact an accountant if necessary. Its role will be to shape the economic and financial assumptions linked to activity forecasts.
You do not know where to start? We support business creators at every stage of their project using free, intuitive and innovative online tools. You can then create your business plan step by step and easily validate your ideas. Our creation experts are available at any time and carry out personalized coaching on request.
Make a Business Plan for a Business Takeover
In the case of a business takeover, the business plan is made up of the same parts, but you must start from the business you are going to buy.
First of all, there is your project: to resume, to do what? Then the explanation: how you are going to succeed in carrying out your project thanks to the company that you plan to buy.
To No more, click here.