For any business, a business plan is very important because it allows you to set the goals that you aim to attain. It will also include the motivation that you have for these goals and exactly how to reach them. You may also put the history of your company and the people who are helping you to reach the goals you have set in the plans. The main focus here is the financial goals that you intend to achieve. The plans act as business guides for those who want to venture out into any form of business.
What it contains: The plans help you to make important decisions about your business therefore there are no set information that is included. Goals that you set out to achieve and the people that your business is targeting will determine the information that you have in your plan. When you are preparing one make sure that you get the adequate material helpful to set the necessary goals. Make use of books, consultants, the Internet and mentors who have been in the business for a while.
Advisably, include the procedures that the business will undergo to succeed and the investors who you will assist you in your venture. Ensure that you also include the costs that you will incur in the running of the business. List out the estimates to the capita required so that the investors have a clear depiction of what they are going to be part of. Majority of the businesses run into troubles later on since they have cost overruns and revenue shortfalls as a result of poor plans.
The Presentation: There are various forms of presentation that you can use. These include:
– Elevator pitch is a format where you give a synopsis of the plan to stimulate interest of the potential financers and the clients that your products or services are aimed at.
– The plan can be done orally where the presentation can make use of a slide show and speech so that a discussion starts among those who have a stake in the venture.
– An additional format of a plan for a business can be a written presentation that has all the necessary information listed out.
– Internal operation plan gives all the details of the process that those in charge will follow in running the business. This kind of plan is not important to those who do not take part in the decision-making processes like customers.