BUSINESS

Entrepreneurs: How To Make The Definitive Business Plan

Entrepreneurs

Entrepreneurs : Having a business plan is of vital importance if you want to start a successful business. A business plan is a written document that basically includes all the basic information about your company.

It explains all the activities and actions that will be necessary to start it up and provides the expectations that demonstrate that it is profitable. The objective of a business plan is to communicate an original idea and attract (and convince) potential investors who have the necessary resources to help us get our project off the ground. 

Many entrepreneurs believe that making a business plan is extremely complicated and cumbersome and that is why they decide not to do it. This mistake can ruin your company. The business plan will not only make it easier for you to reach investors, but it will also help you understand what you need, what you have and what you don’t have, and what steps to take to start your project.

The perfect business plan must gather, in addition to specific information that we will break down below, a series of characteristics that allow it to attract the investor:

  • Suggestive and tempting tags. The design, both interior and exterior, must be careful and in tune. It is the first thing that the investor will see and if we catch his attention here, we will already have a little cattle.
  • Original and dynamic tags. We must take maximum care of the writing using a brief, clear and concise style, which does not give rise to error. It is also recommended to give it a certain creative touch, but always be careful not to overdo it.

Structure Of A Business Plan

A good business plan should be structured around 5 points:

Ideological structure tags. It includes the name of the company, the mission, vision and values and a brief description of the competitive advantages of the business. We must also include a legal plan with the appropriate legal form, tax obligations and procedures for constitution and start-up.

Environment structure tags. It must include a SWOT analysis , an exhaustive exploration of the behavior of the sector in which the company is going to develop its activity, market trends, competition and potential customers. We can also include a forecast of strategic alliances, as well as the main risks and exit strategies.

Mechanical structure. Here we enter the execution of the business itself, that is, the implementation plan. Must be added:

  • Price of your product or service.
  • Payment plans
  • Sales force
  • Distribution channels
  • Marketing strategy: spots on radio and television, social networks, etc.

Financial structure tags. Taking into account that we are going to present this plan to an investor, everything that has to do with financing is very important. It is essential to prove the feasibility of our project through calculations and scenario projections.

  • Initial investment
  • Fixed assets
  • Current assets: those investments necessary to start up a business but that have a turnover of less than one year.
  • Form of investment financing.
  • Break Even analysis
  • Scenario analysis: income statement for three, five years or whatever suits us best.

Contingency plan. It is worth adding a contingency plan that details more and less favorable scenarios, what consequences can be derived from them and what measures we would adopt.

  • Human resources , that is, who is going to be part of your project and in what way.
  • Organization chart – Job description
  • Selection process
  • Working conditions

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