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Creating A Business Blan: The Guide For Your Company

Good business plan breathes life into the business idea and turns the idea into a vision. A mature business plan or business plan should not only take place when the company is founded. Rather, the business idea and the entire business model are subject to a constant process and are further developed in the process. […]

Business Plan

Good business plan breathes life into the business idea and turns the idea into a vision. A mature business plan or business plan should not only take place when the company is founded. Rather, the business idea and the entire business model are subject to a constant process and are further developed in the process. This process is recorded in the business plan and serves as a guideline for the company. On the following article, you will find out what you need to consider when drawing up a business plan and what the individual steps look like.

How detailed the business plan should be depends largely on the project and the objective pursued. If the business plan is used to apply for funding for a business start-up, it should be a meaningful description that gives the reader a clear picture of the business idea.

A prescribed length for the personal business plan or business plan does not exist. Also the contents of a business plan are not fixed. However, more intensive considerations are usually necessary when applying for external funds, which is why the number of pages generally increases. A business concept is more of a “permanent companion” to the company, as it must also be presented in the event of later financing requirements.

These are part of a business plan

Overview of the business plan

Every reader of the business plan gets a first overview of the business idea at the beginning. This first summary serves the purpose of clarity and should therefore be kept extremely brief. One and a half pages are sufficient.

Small tip: It is worthwhile to create this summary at the end after the business plan has been written.

Competition and Market

One of the cornerstones of a business plan is to be able to show in which market environment one is moving with one’s business idea. Is it a growth market? Or is it stagnating? What about market saturation? Are there many competitors? These and other questions should be answered here.

Goals

Another important point in the business plan is to present the goals of the company. It is the question to clarify in which direction the next years should go. A certain joy of vision should be recognizable. It was not for nothing that you started your own business.

So: Which vision, which goal would you like to implement with your company? And: What are the important steps in between?

Marketing

An important question in every business plan and every company is the question of meaningful marketing. Here it should be clarified, to whom the enterprise actually addresses itself – keyword target group. A clear demarcation of the target group is of decisive relevance here.

Further the price strategy and sales strategy are to be judged under this structure point. At what price does the company cover its costs?

Finally, the marketing part of the business plan describes how the target group is reached. Here, the focus is on which advertising channels are to be used and why they are the best alternative for the respective business idea.

Corporate Organization

In the business plan, corporate organization means aspects such as management strategy, company headquarters, legal form, production processes and personnel management. The focus here is on the structural organization of the company to be founded.

Finances

Even if there is neither a prescribed form for a business plan nor for a business plan, one thing must never be forgotten and that is the finances. Whether the business plan is written for the employment agency, a business plan competition or for the bank: each of these institutions wants to know what the money situation is like. The expected profits and losses should be taken into account just as much as the financing requirements. It must also be clarified how the business idea will be financed and in what period any loans granted will be repaid.

Opportunities and Risks

In this part of the business plan the own strengths and weaknesses are to be taken up. It is about objectively describing where the company will possibly have problems and how these can be mastered. At the same time, it is also important to grasp opportunities correctly.

A good business plan is characterized by objectivity. The founder can prove here that he realistically assesses the situation and is well prepared for eventualities.

Contributed by Dom from Waploaded (Nigerian number one music portal where you can get your favorite Davido songs)

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