All businesses start with a big, bright Idea. But it is the execution of the idea that distinguishes successful entrepreneurs from the rest. This excellence in execution is only possible if companies invest adequate time and money towards chalking out a strong business plan and strategizing smartly.
Drawing up a good Business Plan has multiple benefits such as:
- Helps in budgeting and setting targets for your team
- Helps in resource allocations – be it funding, manpower, or technology.
- Helps in setting business goals and objectives & creating strategies to achieve them.
- Helps in tracking your business performance and while undertaking regular reviews, take corrective actions if required.
- During fundraising, a business plan is an essential document that you require; be it Debt or Equity.
While you may know why a business plan is important, you must also know what your business plan should include:
- Executive Summary
- Company Overview
- Products and Services Offering
- Market Analysis and Plan
- Management Team
- Financial Overview
- Specific Milestones & Targets
While the above is a more illustrative list, your business plan needs to be simple, specific, realistic and should be able to provide complete information to the reader. Make the plan document appealing and reader friendly by using graphs, charts, ratios and photographs!
Customizing current business plan:
If you have a basic business plan in place, but feel that your business has evolved into something much larger you might want to consider our services. We would give you a professional review, suggest changes and update it appropriately. We could even solidify it with a detailed financial forecast model and advise on additional content that should be included, considering your target audience for the plan.
Building a new business plan:
If you want to start out strong and stand out from your competitors with a unique business plan we would love to offer our expertise. We begin with a brainstorming session with you and your senior management team. Thereafter, we research everything about your company, your products/services, your industry and your competition to build the foundation of the business plan. We then supplement the plan with detailed financials, including sensitivity scenarios and ratio analysis to ratify various business statements. We also design a version of the financial model for you to track on a regular basis, as your working budget file.
Building detailed financial model and sensitivity scenarios:
Under this, we prepare a detailed financial model, with options for you to undertake sensitivity testing and based on the same, we design subset models for you to use as your operating budgets.