A solid business plan template outlines the business goals and the strategy you will use to achieve them. Making a realistic business plan can be time-consuming hence, a large number of people use business plan templates. However, before you make one, you should analyze your market competition based on facts. It should cover all the relevant information that contributes to your business success. If you have no idea what to include in your business plan template, let me walk you through some helpful tips;
This section explains where your company is and where you intend to take it. It grabs the attention of your financiers. It’s considered the most important part of your business plan. You must state what you are looking for in summary. Explain where you intend to take your business and outline the mission statement. You convince your financier that you have done a thorough market analysis. Give solutions to fill the existing gap in the market.
Your business structure
Describe the industry you plan to venture and give a brief analysis on the present outlook and future projections. What differentiates your company from others? A business plan is commonly used to raise funds. To convince your financiers that your business is groundbreaking, you must bring out the aspect of innovation. This is where you will discuss the industry and your products or services. You must outline your unique success factors. Further, you should give reasons what will make your business a success and how you will add value to your potential clients.
Your market strategy
Give a general market outlook based on the current size and projected growth rate. Narrow your market size and state the needs of your potential clients. Check whether those needs are currently being met. If not, how are you going to fill the gap? This is where you bring in the SWOT (strengths, weakness, opportunity and threats) analysis.
Operations and management
Create an organizational chart that shows who does what in the business. Give information regarding ownership. State whether it’s a company or a partnership business. You should include the names of owners, the percentage of ownership, management profiles and any other information regarding the management.
Marketing and sales management strategy for your business
State your market penetration strategy. This involves outlining your distribution channels and internal sales force. In addition, include a plan how you are going to reach your customers. Secondly, state your sales strategy. Explain how you will train your sales team and the allocate activities.
Now that you have set clear business objectives, you can allocate resources. Give forecasted financial data of your business. This involves giving a summary how you project the company to perform in the next five years. Include forecasted balance sheet, cash flow, and income statement. Your projections must match your funding requests. You can also add a graph that shows your expected trend analysis.
Now you know what to include in your business plan template. Use the above information to write a business plan that will catch the attention of your financier. Remember this is not just a piece of paper; it’s a way of turning your dreams into reality.