At Verde Corporate Finance we have extensive experience in preparing and reviewing business plans for a wide variety of clients. If you would like to discuss your corporate finance needs with one of our advisors, please feel free to get in touch via [email protected] and we would be thrilled to help.
It is important for any business to have a written and thought out business plan. This document will act as a roadmap for how to structure, run and grow your new business. A business plan will most certainly be one of the key documents that the investors will want to see if you are trying to raise funds. Even though there is no right or wrong way to write a business plan it could be helpful to use the following structure:
- Executive summary
- Company overview
- Market and competitor analysis
- Management team and structure
- Details on the service/product
- Marketing and sales strategy
- Funding information
- Financial performance and projections
Some other tips to help you get started are outlined below.
Take your time here and spend more time researching than you think you should. You need to know the ins and outs of how your company compares to the competition (be realistic – it’s easy to be biased when looking at your own business compared to others). Look at how the market is performing currently and how it is expected to perform. Talk to your intended audience and understand how your company is perceived from their point of view.
- Create a company profile
This should be a well written overview of your company describing the history, products and services offered, target market and any other relevant information. This is most likely going to be the first thing that the reader will look at which describes your company so it needs to grasp their attention. First impressions are important.
- Document your business
Keeping accurate and up to date records is crucial for any business which asks for investment or funding. Even if your business plan is superbly worded, poor management information will make funding asks exceptionally difficult.
- Have a strategic marketing plan
A great business plan will always include a strategic marketing plan. This typically includes achieving marketing objectives such as:
- Introducing new products
- Entering new territories for the company
- Boosting sales in a particular product, market or price range. Where will this business come from? Be specific.
- Entering into long-term contracts with desirable clients
- Enhancing manufacturing/product delivery
The marketing objectives should include goals, tactics and timeframes for achieving them. A section should be included where you show how you allocate budgets for each activity planned.
- Make it adaptable
Don’t overcomplicate it and try to avoid jargon, keep it simple, use the type of the language which the audience will understand.
You can adapt certain sections of the business plan depending on the type of your audience.
- Explain why you care
Your business plan should demonstrate that you are passionate and care about your business. A reader who feels emotionally connected to the cause is more likely to help the organisation going forward.