Many companies and businesses focus on speed when creating a business plan. “We need to finish quickly!” – everyone thinks.
- Many investors during the familiarization program are limited to a simple verbal review of the business plan. And they do not pay detailed attention to the content itself, its consistency, and analytics, for which they will allocate money. Many investors trust the writers of the business plan, i.e., these businessmen, therefore, do not require a thorough business plan, taking into account risks and responsibilities, with a cost-benefit analysis of the project, which is proof of the foresight of businessmen. But in most cases, everything happens according to a different scenario. Namely, investors demand that all sectors of the business plan be decomposed in detail. And so that you do not stumble in such situations heed our advice.
- For your business plan to be compelling and brilliant to convince investors, cheer it up with some comparative characterization. All this together will help persuade the investor to allocate funds specifically for your project.
- The mistake of many businessmen and marketers involved in designing business plans is a drunken look at the market’s competitive environment. Of course, an attentive investor who would like to make a profit and not throw money away cannot overlook this. Therefore, it would be wise to include in the business plan indicators of market growth, indicators and trends in turnover and product quality from competitors, and pricing policies undertaken by competitors. Your strengths and capabilities, your company’s potential, and comments from unbiased experts in the field will create a favorable picture and play into your hands.
TIP: For an exceptional business plan, hire our business plan writers.
- Market research. The investor himself should also be aware of the requirements that appear before a new player in the market. These actions aim to give him a real sense of both trends and situations in the market. Indicators of growth rates, sales volume, and turnover of funds should complement this sector of the business plan.
- A competitor’s product as an example of a starting point, advertising for it, and if possible, your competitor’s business literature should be on the table in front of your investors during the business plan presentation. This action is aimed at a clearer understanding of the market by investors and a sense of the common ground of competition.
- Interview or social survey. You can clearly conduct analytics by interviewing a certain number of direct consumers of your products and your competitor’s products. This will be the next sector that complements your business plan. And for even more persuasion, include the parameters of this person in the report so that in case of distrust, they can contact him.
- Contracts, surety agreements for supplies or leases, royalties, commissions and taxes, cash given in an envelope, and not having receipts. Real and long-term contracts with any of your partners will further enhance the investor’s confidence in you.
- Pricing policy and a detailed overview of service and supplies should also be present to create a complete picture of the upcoming work. No business project can be a business document without figures relating to prices and percentages. Regardless of your target market niche, your business plan should include price analytics for the whole market, statistical data, etc.
- Technical support. It should include data on manufactured products. Namely, drawings and technical data of the equipment that produces your product, patents, trademarks and labels, slogans and advertising, copyrights, and production licenses. If any of the above is not in your arsenal. You must indicate an alternative, including patent and trademark usage rights.
- No business plan is conceivable without financial reporting. This sector should include all financial documents, namely, the project of calculating and issuing salaries to employees, tax payments, transportation costs, etc. All this should be included for your peace of mind. This will characterize you as a competent person and an experienced businessman.
- Corporate information. It should include all the information about all the workers in your organization, their level of qualification, the directors, the shareholders, the charter of your company, and the number and copy of the state registration of your company. All these points support the transparency and trusting tone of the business plan as a document of extreme importance.
- Interest and terms of payments on them and dividends.
Do you want to achieve unprecedented success and investor confidence? Do you want a fabulous income and low-interest payments on loans and borrowings? In this case, you should listen to our advice.
For more information, please visit: https://www.mbplans.com/
Click here to read more articles.