How to Write a Winning Business Plan
In our previous article, how Strategic Business Planning Speedily Grows your Business, we provided a list of convincing reasons why you need a business plan for your business.
In this article, we are going to be sharing with you a guide on how to write a winning business plan.
A business plan is an essential tool in every business. It should be equipped and organized in such a way that it is able to attract profitable investors to your business.
Here are tips to guide you in writing your business plan.
Note that these tips are arranged in other of preference and presentation.
Executive business summary
This is a summary of a business report which is intended to explain to the reader what the business organization is all about. Executive business summary speedily enables investors to become easily acquainted with the necessary details in a large body of material without necessarily or being compelled to read it all.
It is usually the first page of every business plan as it introduces the business; the products and services offered, ownership details, structure, and a summary of the business to the reader.
This section gives a brief but precise detail about your company the problems your products profer solutions to, your registered name, logo, address if there is a physical location, and the history of the company.
Company’s Objective statement/goals
Here, you are expected to tell the reader about your company goals both long and short term including strategic details of how you want to achieve them, and how you want to raise funds. This is aimed at portraying to your prospective investors that you have a set plan that just needs funding support from them to get executed.
Business structure and Management
In this section, you are expected to outline how some activities are put together and directed in other to achieve the set goals. These include the roles and responsibilities of activities staff, the share ownership of different investors or funders.
Products and Services
Here, you break down into details all the products and services that you offer or plan to offer in the long term. You also explain how each of the products or services works, its pricing model, your target audience or customers, your method of sales and distribution, reasons why the products and services that you offer are better than that of your competitors.
Marketing and Sales Plan
This is where you provide a detailed explanation of what your marketing strategies are. How you seek to attract and retain your customers. Laid out plans of how you will impress and fully satisfy your customers.
Request for Funding
Here, your goal is to outline in a descriptive way your funding requirements for each project. And how you seek to persuasively convince your investors or funders.
Business Financial analysis
This section is where you provide information on the financial flow of your organization. Which includes how money comes in and out of the company.
Company’s Financial Projections
Your company’s financial projections are a basic estimate of the future financial outcomes of the organization or the projects that they want to embark on which is presented as a budget.
Here, you are expected to outline any other additional information that was not initially included.
With all these put adequately in place, you have a winning business plan.