How to write the right business plan yourself

Hello dear colleague! This article will focus on business planning. As you know, any business or project starts with an idea. But just one idea is not enough. Remember how many different ideas are born in your head every day, and how many of them have you brought to life? After all, in order to put your idea into practice, you need a clear plan. In this article, we will analyze what a business plan is, why it is generally needed and how to draw it up correctly.

The article will be useful for both novice entrepreneurs and experienced businessmen. Since a business plan is needed not only at the start, but also in the process of developing a business (project). It is a kind of compass that helps you keep moving in the right direction and stay on track.

Content:

What is a business plan and what is it for?

A business plan, in my opinion, is one of the most important documents that should be amenable to constant adjustment and be available at any stage of business: whether it is the planning stage or a successful business that is already “standing on its feet” project.

A business plan, like a manager's handbook, will help to warn against possible risks, attract investment and government support, follow a clear plan, namely, observe time-management.

What is a business plan? There are many interpretations, forms and concepts.

A business plan is a feasibility study for a business project.

Why didn't I take simpler interpretations, such as this manual describing the idea of ​​the project, business processes and mechanisms for their implementation in order to achieve the goals stated by the author of the document?

Because this is not just a description of processes, but an accurate calculation of possible risks, profits, losses and other indicators.

This document can have several purposes. Let's take a closer look at each:

  • For personal use of the author of the idea and / or project manager;
  • For attachment to various packages of documents (for example: for obtaining government support, loans, loans, etc.) ..);
  • For presentation to investors.

Depending on the purpose, the length and content of the document will vary.

Decided to bring some business idea to life, but don't know where to start? Any business should start with calculating the cost of purchasing equipment, the level of profitability, payback periods, and so on. Here you will learn everything about how to draw up a business plan for an individual entrepreneur. The sample from the article can be easily used by an entrepreneur to implement a startup, however it is still recommended to create your own business plan. You will find step-by-step instructions and basic calculation formulas in the following sections.

What is a business plan?

Don't know how to draw up a business plan for an individual entrepreneur correctly? First, let's take a look at what this business tool is and what its purpose is. In the textbooks of the school course in social studies, you can find the following definition: a business plan is a guide to starting a business, which includes the main goal of the project and how to achieve it. Also, this guide often includes various formulas and calculations that allow you to determine the approximate profitability of the business and the payback period of the enterprise.

In addition, the business plan should contain a clear goal towards which the individual entrepreneur strives. If you keep this attitude in your head, you can change it in the light of any circumstances. However, the goal that is written on a piece of paper carries a lot of weight. Therefore, if you decide to draw up a business plan for an individual entrepreneur (a sample will be given in one of the following sections), then be sure to formulate a clear position.

Rules for drawing up a business plan

If you want your startup to start generating good profits in the future, then for this you need to follow certain rules when drawing up a business plan. The list below contains only the main points that must be observed.

If an individual entrepreneur follows these three points when drawing up a business plan, then his project will inspire confidence not only among the closest circle of people, but also among investors who decide to invest in a promising enterprise.

Don't forget the pros and cons of the enterprise

Most of the step-by-step instructions for drawing up a business plan for an individual entrepreneur also imply the inclusion of various pros and cons of the enterprise in the project. Why do this? To constantly see the strengths and weaknesses of your business before your eyes. For example, if your startup has a low level of competition, then you may not be afraid to set the price of products 10-15% higher than the market price - customers will still have no choice. But if the main disadvantage of your enterprise is hard physical labor, then do not forget to purchase additional equipment for your workers that simplifies the production process. However, you will not forget about it only if you list the pros and cons of a startup.

What is a business project summary?

Drawing up a business plan for an individual entrepreneur in the Republic of Belarus or the Russian Federation should begin with the preparation of a summary of your project. This point raises the most questions for individual entrepreneurs, since not everyone understands how a business plan can have some kind of summary. However, this part is one of the most important for building a successful startup, so it needs to be properly understood.

So, the summary of the business plan - this concise information about each of the sections and conclusions from them. Most often, a resume is used to present a project to third parties in order to achieve an investment of funds in an enterprise that is in its early stages. However, even for an individual entrepreneur who is used to achieving goals on his own, a resume will help to highlight the main essence of the information that is written in other sections.

Structural features of the business plan

The purpose of this article is to support all your endeavors on the way to starting your own business. Successful business owners know what you need to achieve your goal - a quality business plan.

Why create a business plan?

It is this important document that will answer all pressing questions that will help reduce risks, assess prospects, and calculate the necessary costs. With the help of a business plan, aspiring entrepreneurs will lift the veil of the future of their business. He will reveal the goals that need to be achieved and divide the process of creating a business into stages.

Any entrepreneurial project covers a complex measure, such as an analysis of the target business, consisting of the following sections:

  • summary ;
  • market ;
  • strategies;
  • workforce;
  • technology;
  • finance and risks;

[box type = ”download”] Download a sample business plan for an example of a cafe in. oc (Word) [/ box]

Resume

As you know, the purpose of the resume is the interest of the person responsible for issuing the loan. You must ensure that the first impression of the lender is overwhelmingly positive.

A brief description of your resume should clearly answer the following questions:

  • How can your business be useful to society?
  • How do you plan to bring your business?

Next, briefly describe your business idea and how you came to the concept of its creation. Describe exactly how you see this project in action. Be sure to indicate the goal of the project and how to achieve it. The resume also needs to outline your potential target audience, who these people are, their age and occupation.

Even experienced entrepreneurs sometimes get stumped by frequent changes in market conditions, which forces them to change development strategies, calculating the slightest steps. Modern conditions for attracting capital, both foreign and domestic, require an entrepreneur to draw up and protect a business plan. And it must be drawn up taking into account international requirements.

In the West, it has long become the norm: not to start a business without a detailed miscalculation of all the nuances in order to minimize the risk of failing. In our country, this is also gradually becoming the rule.

What is a business plan for

A business plan is a document where the future of a company is modeled. It contains information about the product or service that is going to be offered to the consumer, its cost, sales options, the need for personnel, equipment, market analysis, probable risks and problems that may arise, ways of solving them. This is a program and a guide to action.

Depending on the purpose for which the document is being prepared, it can be divided into the following types:

  • internal ;
  • external.

The first of them contains accurate data on the state of the company and is adjusted depending on how things are at the enterprise and in the market as a whole. In other words, it serves for the operational management of the company.

The second is being prepared for presentation to possible external investors, banks, future partners. This is a kind of business card of the enterprise.

An internal business plan will also answer your question whether you need additional external investments, or the company is able to accumulate its resources and do without them, so as not to give away an impressive part of the profit in the future.

As a management document, the business plan is aimed at solving the following tasks:

  • Define perspectives in business development.
  • Search for a new sales market.
  • Estimate company expenses.
  • Define short and long term goals and future strategy.
  • Analyze the workforce and its functionality.
  • Conduct an assessment of the company's financial position.
  • Provide an opportunity to look at the existing problems from a different angle that hinder further development.

If you are interested in writing a flower shop business plan, check out this article.

Business planning, as a way of prospective analysis of the activities of enterprises in any field of activity, is widespread and necessary, both for large corporations and small business projects that are just conquering a market niche. The composition of a business plan is a rather specific issue and is largely determined by the type of activity for which it is being developed, and the individual approach of the developer, however, the document must look and be competently developed.

A typical step-by-step instruction on how to draw up a business plan from scratch on your own implies consideration of the following mandatory aspects:

  • analysis of the competitive advantages of a business project, product or service;
  • plan for organizing a production process;
  • organizational business planning;
  • analysis of the market and potential business opportunities;
  • planning the spending and receipt of financial resources;
  • consideration of possible risks and ways to compensate for them.

How to start a business plan

The method of drawing up a business plan implies the presence of a planning goal and a specific idea, product or service that is supposed to be offered to consumers as a consumer product.

If you have a goal, you know what you want

The goal to start designing can be:

  • Attracting the investor's attention to a project or product by clearly demonstrating their potential, the reality of implementation and making a profit
  • Searching for partners to implement a project from scratch through outsourcing and / or diversification
  • Understanding the company's development prospects and determining the share of profits available for use as dividends
  • Identifying shortcomings of the existing business organization structure and ways to eliminate them
  • Building effective management by coordinating the efforts of partners
  • Solving the problem of financial recovery of business

Having chosen a suitable goal, you should always keep it in mind during the whole process of creating a business plan, since each section should correspond to it and help to achieve it. Most often, a business plan is needed by those who have decided to start a new business from scratch, so you should consider in detail how to write an investor-oriented business plan.

A good idea is half the battle

We use cookies
We Use Cookies to Ensure That We Give You The Best Experience on Our Website. By Using The Website You Agree to Our Use of Cookies.
ALLOW COOKIES.