BUSINESS

PLAN

DEVELOPMENT

07

Starts at $TTD 1,500/$USD 215.
Prices vary according to the requirements.
1 hr

Start-up, For Investing, Financing, Strategic (For company growth)

A business plan, is a “written document describing the nature of the business, the sales and marketing strategy, and the financial background, and containing a projected profit and loss statement”. - Entrepreneur Magazine

Benefits:
  • It allows you to see the “bigger” picture:  with an ‘actual’ business plan, you get a clear picture of the business as a whole. This allows you to plan strategy as you are better able to “connect the dots”.
     

  • Strategic focus: Entrepreneurs and startup businesses who use a business plan tailored to their needs are better able to create a “business identity”- and can then focus on building that identity, as defined by your target market, and the products and services you are tailoring to match the needs of your customers/clients.
     

  • Set priorities: It’s impossible to do everything at once. When you plan, you can then prioritize - and so allocate your effort, resources and time to do things in terms of their importance. This also allows you to operationalize your business in an efficient and strategic manner.
     

  • Manage change: A business plan also provides you with the data required to check your assumptions, track your progress and see new developments or emerging trends before they ‘tip-over’ - and adjust accordingly.
     

  • Forces you to be accountable: Effective planning helps you to set expectations for yourself (and your company). This also allows you to track your results. Additionally, you can constantly review your business plan in terms of what you expect and what eventually happens.
     

Business Plans can take many forms:
Start-Up
Business Plans
  • Details the steps to start the new enterprise.

  • Includes sections describing the company, the product or service your business will supply, market evaluations and your projected management team.

  • Includes a financial analysis (required by potential investors) with spreadsheets describing financial areas including but not limited to, income, profit and cash flow projections.

Internal
Business Plans
  • Targets a specific audience within the business, for example, the marketing team who need to evaluate a proposed project.

  • Describes the company’s current state, including operational costs and profitability,

  • Are used to calculate if and how the business will repay any capital needed for a project

  • Provides information about project marketing, hiring and tech costs.

  • Typically includes a market analysis illustrating target demographics, market size and

  • The market’s positive effect on the company income.

Strategic
Business Plans
  • Provides a high-level view of a company’s goals and how it will achieve them, are used to lay out a foundational plan for the entire company.

  • Most strategic plans include five elements:
    o business vision,
    o mission statement,
    o definition of critical success factors,
    o strategies for achieving objectives and,
    o an implementation schedule.

  • This type of business plan brings all levels of the business into the big picture, inspiring employees to work together to create a successful culmination to the
    company’s goals.

Feasibility
Business Plans
  • A feasibility business plan answers two primary questions about a proposed business venture:
    o Who, if anyone, will purchase the service or product a company wants to sell, and, 
    o If the venture can turn a profit.

  • Feasibility business plans include, but are not limited to:
    o Sections describing the need for the product or service,
    o Target demographics and required capital.
    o Recommendations for going forward.

Operations
Business Plans
  • These are internal plans that consist of elements related to company operations.

  • Specifies implementation markers and deadlines for the coming year.

  • Outlines employees’ responsibilities going forward.

Growth
Business Plans
  • Are in-depth descriptions of proposed growth 

  • Are written for internal or external purposes.

  • If company growth requires investment, a growth plan may include:
    o Complete descriptions of the company, its management and officers.
    o All company details to satisfy potential investors.

  • If a growth plan needs no capital, the authors may forego obvious company descriptions, but will include financial sales and expense projections.

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