Business Plan Writing Tips from Experts

Business Plan Writing Tips from Experts

The right business plan is a fundamental document which allows you to determine the idea and ways of doing business, the necessary investments, and indicators of profitability. In the economy and management, there is no single common template for writing a business plan, all of them are individual and compiled for each individual startup. The purpose of the business plan is to structure all the information about the life cycle of the business, its components, deduct the cost of the project, understand when it is possible to break even point, the level of potential profitability, etc.

How to Write a Stellar Business Plan

Writing a college, university or even an MBA business plan you will be provided with a certain template. Here, we will discuss the general points included in the business plan and you can choose those relevant to the template you were given. If after reading this article, you feel like writing a high-quality business plan is too challenging for you now, it is only wise to address affordable business plan writing services for expert help.

Despite the individual process of drafting a business plan, there is a standard structure for developing a document that contains the following main sections:

  1. The title page of the business plan. You should specify the data regarding founders, the author of the project, sometimes the cost, and its essence;

  2. A summary of a business plan that emphasizes investment attractiveness;

  3. Market analysis;

  4. The main idea of the project and a short vision of the implementation;

  5. Marketing plan;

  6. The production plan if applicable;

  7. Financial plan for 3-5 years;

  8. Administrative and organizational plan;

  9. Accurate calculation of project profitability;

  10. List of risks and guarantees;

  11. List of necessary normative documentation;

  12. Attachments.

The approach to drawing up a business plan should be balanced. You should have the necessary information base.

Business Plan Structure in Detail

Get to know how to formulate the major components of your business plan.

Business plan summary. It requires laconic display of the essence of the proposal. All the important data is contained in the summary of the business plan. The purpose of this section is to keep the attention of a potential investor. Imagine that your professor is your investor. It is the reading of the summary that determines whether the project will draw attention and money or not. To succeed, include the following information:

  • A brief description of the business idea;

  • Data on its timeliness in the market;

  • Geography of influence;

  • Term of realization and payback of the project;

  • Its level of profitability.

Talk about factors that provide expected returns, competitiveness, mention product lifecycle.

Market analysis, industry review and SWOT analysis. The major points to unveil here are:

  • General information on the industry, dynamics of development, capacity, expressed in financial indicators, trends and prospects of the market;

  • The main structure (market situation), the largest players, their characteristics and priorities in their work; definition of the competitive characteristics of your product;

  • Creation of a portrait (portraits, if several customer segments are taken into circulation) of the consumer; the motives to which he or she will be induced when buying; key values and anchor points that can be used to attract customers;

  • Identification of the most productive markets (sales) and sales channels. Identify the most likely risks in the industry and ways to overcome them, a list of alternative solutions

The basic idea for a business plan and a description of the implementation. This section of the document is a semantic center and it includes:

  • a concentrated idea of your business;

  • a brief description of its characteristics and implementation,

  • a description of the product life cycle,

  • the frequency of secondary purchases,

  • the possibility of creating additional assortment lines, - segmentation of the main offer and product modification forecast following the potential development of the market.

Marketing plan and strategy in the business plan. In this chapter, the content of the business becomes much more practical. The marketing plan includes:

  • the scheme of product withdrawal into the market;

  • development strategy;

  • pricing principles;

  • sales channels and sales system;

  • tactics of promotional support.

If you are not sure you can write a remaining financial plan by yourself you can use outsource opportunities — order it with a professional writing company. Buying only one chapter you will save money without compromising on quality of your document.

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