Starting With the Basics – The Contents of a Business Plan

Let us make a short detour to the table of contents as previously discussed. Now, remember that different business plan writers and consultants prepare a slightly different format according to their policies and procedures, but the key elements of a business plan for a startup business remain the same.

1. Executive Summary
2. A Basic Company Description
3. Products and Services
4. Marketing Plan
5. Operations Plan
6. Management and the Organization
7. Personal Financial Statement (Savings / Current)
8. Initial Expenses and Capitalization
9. Financial Plan
10. Appendices
11. Refine Your Plan*

* At this point, you must have all the knowledge regarding the elements of the table, from ‘A’ to ‘J’. Element k – “Refine Your Plan” is not a part of the table of contents, but an indication that you may need to add extra details or documentation in your business plan for specific purposes, like getting a term loan or industry specific information that will strengthen your business idea.

The EXAMPLE

A woman that has flawless baking and marzipan decoration skills might want to open a bakery one day that caters to a specific niche market. Going to the local flea market every weekend to show off her artistic skills through her cakes, cupcakes and other bakery items, and attracting many customers, she might get an idea to draw up a business plan for a startup business.This will help her take the next step in her career, and prove that her business is here to stay.

• Executive Summary

This section will sum up your business plan and highlight the key points (product, customers, owners, industry of operation, and the future) that will capture the interest of the reader. Also, mention if you need or are applying for a loan, the precise amount and how you will use it. This should be written after the rest of the business plan is complete. Try to write two pages or less, and make it sound enthusiastic and professional.

• Basic Company Description

You need to write up a mission statement, your goals and objectives, the philosophy behind your business, the industry, your strengths and weaknesses as well as the legal form of ownership.

Your philosophy might be the values that your business will live by: honesty, fun, innovation, etc. Your vision will be in line with your values, and highlight the long-term thinking.

• Products and Services

This section will include your products and services, the unique selling point of your product / service that will attract customers, any proprietary features that will give you a competitive advantage, technical and skill advantages, strengths and weakness related to your skills and the pricing. The reader should understand how your product would differentiate or excite customers.

• Marketing Plan

A market plan will involve primary as well as secondary research information, the barriers you may face at entry, your target market and any threats and opportunities that you may need to overcome and avail respectively. A SWOT analysis will help you bring this information together in an attractive form.

In addition, you will have to include a key competitor analysis, your product / service positioning, marketing strategies and promotions, the promotional budget, the pricing method, proposed location, delivery methods and a 12-month sales forecast.

• Operations Plan

This section will include details about production, location, quality control, the legal environment, personnel, inventory, suppliers and credit policies. You should explain this section carefully because this will carry significant importance when assessing your business viability.

• Management and The Organization

This section should give information about the key management, their roles and responsibilities, experience and any plans to obtain finance. The section will also include biographies, any gaps that will be filled, advisors and an organization chart.

• Initial Expenses and Capitalization

You can download a template of startup expenses from various websites. An opening balance sheet will also help you and the investors to understand the financial position at the first business day. A personal financial statement will help the outsiders understand their share, and your ability to settle the liabilities.

• Financial Plan

You need to make sure that the investors, even if they are in your close relation, understand your profit and loss projections (prepared for a period of 12 months), an optional 3-year profit and loss statement, cash flow projections and a projected balance sheet. You should also include breakeven calculations to hint the investors of your determination to make a profit as soon as the costs are recovered, and the use of capital.

Got It? No… Do Not Worry! Here Is An Alternative Solution:

So, if you are still confused or too scared that you will not be able to prepare this business plan for a startup business, you can always look around and hire professional business plan consultants. Business plan writers and consultants are experienced industry professionals with all the knowledge and skills to draft a convincing business plan that will help you attract investors and take the flight.

About the Company

Established in 2007, Business Plan Writers (BPW) is a well-known firm with roots in London, UK and Los Angeles, USA. Over the years, BPW has satisfied its clients with an array of unique and remarkable business solutions that include:

• Business Plan Consultancy
• Strategic Business Plan Writing
• Reports and Business Analytics
• Tier 1 Visa Business Plans
• Finding and Approaching Investment Opportunities
• Website Design and Development
• Other Products and Packages

With a 98% success record in Tier 1 investor, entrepreneurship and other business visas, you will not find a better, popular and trusted option than BPW. At BPW, business plan writers follow a strategic approach where value-adding areas are identified to make sure that your business idea reflects your true intentions… a successful business in the near future! Choose BPW and say goodbye to sleepless nights.

For more information, visit www.businessplanwriters.co.uk. You can also call on +44 (0) 207 554 8568 (UK), +1 310 683 0115 (US) or email at bpw@businessplanwriters.co.uk.

Limited Time Offer: Get a 30 minutes’ free consultation on business ideas, growth opportunities and financing options.

The post Do You Need a Business Plan For a Startup Business? The Example You Have Been Waiting for…! first appeared on Business Plan Consultants.

Well, all is possible but the path to success is never that easy. You will come across many hurdles while pushing yourself through this rocky road, but if you are really determined to get to your destination, you need to plan your route carefully. You will need to build a proper business plan for a startup business first!

The First Step

Generally, a business plan comes much later in the process because some of the content that makes up a business plan needs to be considered before you move on to the complex aspects of starting up a business.

• The Business Idea

You are nothing but an ordinary man without your creative thoughts. To lay down the foundation of a business plan for a startup business, you need to think creatively and out of the box, before you start spending too much time on strategy. Not everyone can open up a business like a supermarket or a fitness center; however, you need to think about why a customer would come to you, instead of going to a well-established business.

A strong business idea can set you up for life; however, there is a still a lot of work to do before you achieve your goals.

• The Research

A well-researched idea is one that will have more chances of seeing the light of the day. An industry analysis is key to supporting your business idea. You need to consider the market share of different competitors, their financial strengths and unique selling point (USP), and is there anything new that you can bring to the table to fight the market leaders. However, fighting a monopoly will be the toughest challenge you will face.

This part will also include looking into different marketing strategies, and how will you align them to highlight the unique features of your product or service.

• The Nitty Gritty

You will need to go deeper to show how serious you are with your business idea. This will include a design and development plan, which will include product design, the production facility and other factors. A management and operations plan will outline the business functions and how the decisions are taken in the hierarchy.

The Second Step

This will include looking into the financial aspects of your business, whether it will be your personal savings, loans or a mixture of these resources. Once you have done your homework and prepared a feasibility report of your business, you can start looking for potential investors. However, your business plan should be convincing enough to get the sharks interested in the venture.

Is This All Going Above Your Head?

If your answer to the above question is yes, then there’s no need to worry! Most entrepreneurs and businesspersons that require a business plan for a startup business do not actually write it. Instead, there are professional business plan writers and consultants who are more experienced in drafting and presenting a business plan. You may have a creative mind or a skill that is undiscovered, but writing up a formal report is not most people’s cup of tea. Therefore, if you want to convince the investors into fueling your venture with their hard-earned money, you will have to search for professional and experienced business plan consultants.

Whom to Choose?

Well… This is never an easy task; however, you need to try your best at finding well-reputed, certified and experienced business plan consultants. Going over their client portfolio, and the variety of services they have to offer will also help you shortlist the best ones. Last but not the least, you will have to compare their fees with your determination of obtaining a business plan for a startup business. This, although, is the most difficult thing to do but you need to learn to work under a budget if you want your business to be successful and debt-free.

About the Company

Established in 2007, Business Plan Writers (BPW) is a well-known firm with roots in London, UK and Los Angeles, USA. Over the years, BPW has satisfied its clients with an array of unique and remarkable business solutions that include:

• Business Plan Consultancy
• Strategic Business Plan Writing
• Reports and Business Analytics
• Tier 1 Visa Business Plans
• Finding and Approaching Investment Opportunities
• Website Design and Development
• Other Products and Packages

With a 98% success record in Tier 1 investor, entrepreneurship and other business visas, you will not find a better, popular and trusted option than BPW. At BPW, business plan writers follow a strategic approach where value-adding areas are identified to make sure that your business idea reflects your true intentions… a successful business in the near future! Choose BPW and say goodbye to sleepless nights.

For more information, visit www.businessplanwriters.co.uk. You can also call on +44 (0) 207 554 8568 (UK), +1 310 683 0115 (US) or email at bpw@businessplanwriters.co.uk.

Limited Time Offer: Get a 30 minutes’ free consultation on business ideas, growth opportunities and financing options.

The post Do You Need a Business Plan for a Startup Business? Here is How You Can Find Your Way to it! first appeared on Business Plan Consultants.