Writer : Adeela Qayyum

 Your business plan is basically an image which says a lot about you as a business owner. Only a carefully thought-out and professionally presented plan can attract audience/ investors. Business plans that got approved by US embassy, it includes a clear and appealing description of the business and business owners’ profile along with his/her set of expertise and prospective endeavors.

Business plan also includes the company’s or the project’s current condition, current demands, and anticipated future even though its subject is a moving goal. consider your target market, your sales and marketing approach, and keep a thorough check on who your main competitors are while creating a business plan. A business plan gives you the framework for considering these issues and records your responses, ensure to add all possible aspects. It takes a lot of work to create a better plan to avoid rejections.

The following are the components of a business plan:

Executive Summary

Investors want to know what your goal is, especially those who are funding early-stage firms. What directions do you anticipate your business taking in the future? Basically, executive summary includes key to success, guiding principle, core values with clear Mission and Vision statement. Executive summary in a business plan is a short overview of your business plan if you want to give investors more information about your company in a brief manner.

Write a short but effective summary which will include a glimpse on the future business core values, its owner’s expertise in the following business. Investors want to know that you’re planning for future and that your vision will likely develop and evolve as time goes on, even though it might take years to implement.

Growth Sales and marketing approach

Investors consider more than just a business concept. They want proof that you are helping clients with their problems. For you to develop a successful business, your customers must want what you are selling, and your business plan needs to present the proof that you’ve gathered that indicates you’ll be able to sell your goods and services to consumers.

 It’s much better if you have proper growth plan/graph in the shape of early sales and clients. The most crucial thing is to convey that you are aware of your demands. You must spend time considering your target market, your sales and marketing approach, the issue you address for your clients, and who your main competitors are while creating a business plan.

Marketing Planning

Describe your target market and the main trends that are happening in it. The market is it expanding? How well-positioned is your company to benefit from these changes? Spend some time describing your rivals, how your target market currently resolves its issues, and why your solution is better. A marketing strategy that tells how you’ll connect with your target audience and any significant marketing activities you’ll launch should be part of your business plan. Spend some time outlining your sales strategy as well.

Target Market Strategy

Target market strategy is basically about what’s different in your business there are other several same category businesses are already based there but what’s different about yours, so target market strategy includes your strategy that you will be applying while doing business and which will stand you out in comparison with other competitors. company analysis, strengths, weaknesses, competitor analysis, Strategy, and implementation. By mentioning all these will help your business have a better understanding and it will be a plus point. 

They are interested in your “business model,” which describes how your company will operate financially. Additionally, they’ll want to know what it will take for your business to be profitable and where you plan to invest capital to expand. Any business plan must have a thorough financial plan, so taking your time here will be beneficial.

Company and Business Management:

A successful business is mostly dependent on more than just a solid idea. Even though many people have good company ideas, but only those who can effectively implement them usually prosper so having an Authentic Business model which consists of Product and Service Description, management and organization, Management team responsibility, company details, History, and background, where it is based and Thorough Market analysis, market overview, market drivers, market segmentation through insights.

Since they want to know that you can turn your concept into a profitable firm, investors will pay close attention to the area of your plan where you discuss your management team.

Financial Plan and Predictions:

Unavoidably, investors will ask to see your financial projections. You will require a balance sheet, profit and loss statement, budget for expenses, Important Assumptions, General Assumption, Startup Analysis, Financial Overview, Profit and Loss, Cash Flow Statement and predictions, Balance Sheet, Break-Even Analysis, and sales forecast. 

If you have historical data, you should prepare to share it together with any other important business indicators. Investors will always probe deeply into the workings of your company, so be ready to outline every aspect of how your company will function financially.

Conclusion:

Spending some time to create a business strategy will help to make the entire process simpler. It is accurate to say that not all investors will want a copy of your company plan. However, the process of creating a business plan will guarantee that you’ve considered every facet of your enterprise and are prepared to respond to any inquiries that arise during the fundraising process.