All businesses, whether they are in the birth stage or later stages, require funding or need to attract investors and new stakeholders at some point along the way. The perfect way to go about this is through a business plan. We have a team of highly qualified professionals with years of experience in helping small business with their business plan, whether that’s to get funding from a bank, potential investors or just to help plan the future growth of a business.
Our staff are at hand to help you create your business plan or investment pack to help you secure crucial funding and investment. We know what banks and investors want to see when reviewing your business and can help you answer questions before they are asked of you.
WHAT IS A BUSINESS PLAN?
It is primarily a document that describes in detail the core objectives of your business. It further expands on these objectives by explaining how you plan on achieving them. Additionally, a business plan also dictates how you will be generating a profit and how the business will survive and grow over time. It contains all your marketing and sales plans, strategies, goals, financial forecasts, and aims.
WHY DO I NEED A BUSINESS PLAN?
If you are running a business, you know how it is run and what the structure is. However, an outsider who is not familiar won’t be able to make sense of how things go about in your business.
HELPS TO RAISE FUNDS
Anyone who would invest or lend their money wants some sort of guarantee that their money will be retuned or generate interest. Therefore, all investors or banks who lend invest money in businesses require them to have a solid business plan. A thorough demonstration of how financials will be handled is required in order to win the confidence of these people to achieve the funds. Only a good business plan can win a loan, so you should work on one effortlessly.
MAKE WELL-INFORMED DECISIONS
Having a business plan allows you to have a plan to refer to anytime you come across a problem. You can go back to the plan and see what sort of strategies you planned on implementing and where what went wrong. It can be used as a guide which can be consulted for any financial, management, or technology-related matters.
IDENTIFY POTENTIAL WEAKNESSES
Once you draft a business plan and view it from practical terms, you will be able to identify all the potential pitfalls and weaknesses it may have. In this way, it is easier to get rid of them well before time instead of having to face the consequences of them later. Moreover, you can seek the help of professionals and experts at the right time in case you point out any weaknesses in your plan
COMMUNICATE YOUR IDEAS
Stakeholders don’t run the business. However, they do require you to fill them in with whatever that is going on in the business. Seeking tax advisory services becomes easier. This can be done so with the business plan. Moreover, you can win the confidence of potential stakeholders with a solid business plan draft. You can secure credit, convince people to work with you or attract potential customers with a robust business plan.
AND MUCH MORE….
You may think that spending time on creating a business plan is of no use. In reality, it is the other way around. Creating a business plan has several advantages that no business should forego. While a business plan is necessary to apply for a start-up loan, you can still significantly benefit from having one. Here are seven critical things a business plan does for you:
- It has all your thoughts and ideas about the business and how to run it in an organized order. As a result of this, your vision is clear to anyone who goes through the business plan.
- Having structured business plans allows you to see your idea clearly. Consequently, you can identify any potential problems or issues in achieving your goal on time and solve them.
- If you have a business plan since the initial stages, it will be easier to see a clear way through when things get complicated. You will have everything already planned out, so when things get busy, it won’t be that hard to manage the time and work.
- A good and convincing plan is essential for achieving or winning any sort of finances for the business. Most importantly, if you are applying for a start-up loan, it is a mandatory requirement by the banks or the investors. Here, only a solid and good business plan can convince them to fund the loan for you.
- A business will act as a control group for the experiment. You will have something to compare the progress of your business with over time.
- Creating a business plan and circulating it through the whole team has its benefits. Once everyone is familiar with the business plan, they will be aware of your vision. In this way, everyone will be working towards the same mission together.
- A business plan is about how you plan to run the business. However, it can also help you to plan for the future of the business.
YOUR BUSINESS PLAN JOURNEY WITH US
Understanding your business, industry your operate in and economic challenges you face is key to developing a great business plan. Below are some of the key elements we work very closely with you to determine how best to engage convince the readers to come on board.
YOUR BUSINESS AND KEY OBJECTIVES
Your business and key objectives include the core services and products described in detail, along with the description of the business. Moreover, this section also takes into account the goals your business aims to achieve. You need to declare a time where your business will be able to achieve these goals. The goals can be either short term, mid-term, or long term depending on the resources available and your business strategy. You also need to show the extent to which these goals are realistic and the possibility of your business achieving them on time.
In a situation where you need to apply for a start-up loan, you also need to dictate how you will utilize the money received from the loan. You need to convince the investor or the bank that the money is going into good hands, and it will only create profit via realistic goals and methods.
YOUR SKILLS & EXPERIENCE
In this section, you need to mention or show how you have the skills and experience required for the business you have set foot in. All your previous work in the same field will count here. If you have worked in any other form of business, you can mention that as well. In case you don’t have any experience in the relevant business area, then you need to show how the skills you have can be applied or transferred to the current business you are about to run. Any training, experience, or lessons you have learned throughout your life can be included as long as they relate to the business somehow.
YOUR TARGET CUSTOMERS, MARKET AND COMPETITION
In this section, you need to demonstrate that you have the perfect knowledge about who your target audience is. Moreover, you also need to be confident about the position of competing firms within the same industry. You also need to demonstrate how you place yourself in the fierce competition that is out there. How you plan on directing the target audience towards your product or service must also be included.
YOUR SALES AND MARKETING PLANS
This section of the business plan deals with how you plan on generating and handling the demand for your product or service. All the strategies and marketing plans you have in place to attract customers must be included. Moreover, you can also include the branding and logo you plan on using.
Moreover, you also need to demonstrate how you plan on spreading the word about the product or service and the platforms you will be using, such as social media, online advertising, etc.
YOUR OPERATIONAL PLANS
This section of the business plan varies from business to business, as different business structures need to be operated differently. However, generally, this section includes the location where you will conduct the trade. The details about the staff you hire, their specific roles within the business premises, and all the office instruments you may need in the form of tools and equipment to carry out the operations would be included here. Other things that can be included are any procedures needed to operate your business. You can also mention any risks or issues the business might face and how you plan on tackling them.
This section of the business plan needs to demonstrate how you will manage the funding for the business. All business activities require funding. You need to make it clear where all the funds will come from and in what amounts. Moreover, you also need to mention how much money you expect to generate.