Business plan is certainly the first step that every entrepreneur / prospective entrepreneur needs to create. Why is it important? A properly designed business plan can provide us with a wider visibility about our business. Hence, we can prepare tactics to face the detected challenges way earlier.
Before looking at the 8 important points of a business plan, it's always best to conduct a brainstorming session or discussion discussed with partners / business partners or mentors / people you trust. Brainstorming gives you various interesting ideas that can support the preparation of your business plan. Be aware to monitor your discussion so it does not out of the topic.
Well, let's discuss one by one what are 8 important points to be reviewed in your business plan. Especially for those of you who are currently targeting to bring this business plan to the front of potential investors.
1. Executive Summary
This point emphasizes the importance of summarizing what are the main/unique proposition values offered by your business. For example, if you are setting up a culinary business, you can say: Delicious Inc. company is focusing on providing delicious Martabak as main business with speedy preparation time (wait no more!), variety toppings, prices under IDR 10 thousand and 24 hours availability. Make the audience to remember the uniqueness of the product / service that you offer.
2. Company Overview
Describe the history of the company, the vision / big goals, the founder of the company and also the operational location and shops/channels.
3. Market Analysis
Explain how current market conditions (related to the business object that you are discussing) and how your company can bring this business stands out from competitors in the same field.
4. Business Organization
You can describe the leadership structure in your company. Including who is the President Director and his/her team, what divisions are there and important figures in the company such as special advisors who may have experience/famous in the field.
5. Products and Services
Describe what products / services you offer include the key features and price model.
6. Marketing and Sales Plan
Focus on how you introduce your product / service to the market, get customers and build a good relationship with them. Also show what important media are used: social networks, advertisements on Google or billboard ads.
7. Financial Plans and Projections
Provide a minimum of financial projections for 3 years. Don't forget to always align the financial projection with big goal that you want to achieve.
Provide important attachments such as a detailed calculation of financial projections, your personal resume / CV as the founder and various other information that needs more detailed attention.
If you draw up a business plan with reference to the 8 points above, then you also have completed a company profile framework that can easily be outlined in the form of a PowerPoint presentation. Remember, in contrast to a written business plan, you need to modify the PowerPoint presentation to be as concise as possible without too wordy. For help with professional services, do not hesitate to contact the DoctorSlide team or can directly submit an online request HERE.
Goodluck in preparing a business plan and commit to nail it best!
Cover picture - credits to Freepik