How to Make a Business Plan for a Successful Project
The Business Plan is the essential document on which to work in order to be able to embark on creating a successful project.
But what should your Business Plan contain, and how does this document allow you to take stock and launch yourself more serenely into your creative project, especially how to make a business plan?
Find out as you keep reading, and as a bonus, you’ll have a Business Plan template that you can download for free.
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Summary
1- The stages of creating a business plan.
2- What is a business plan?
3- How to make your Business Plan?
4-Template to make a Business Plan
The Stages of Building a Business
Every business comes from an idea.
But between the idea and the actual creation of the company, there is a long way to go.
Make a Business Plan
Indeed, it is important to know how to formulate your idea, evaluate it, detail it, and operationalize it in order to end up with a concrete, realistic, finally, and above all, promising project!
It is, therefore, necessary to start by defining what the company will sell? To which customers, for what purpose, in what way, and for what benefit?
It is called a Business Model.
To make a Business Model, you can use a Business Model Canvas, a Business Model visualization tool.
The Business Model Canvas comprises 9 components which are:
Customer segmentation;
The value proposition;
Canals;
The customer relationship;
Income;
Key resources;
The key activities;
Key partners;
The costs.
Find out how to build a Business Model Canvas:
In your Business model, you will enter hypotheses which you must then validate.
In order to validate your business model, a market study is required.
Indeed, the purpose of market research is to analyze your customers, your competitors, and the various stakeholders in your project in more depth.
Learn more about conducting market research.
Then comes the stage of carrying out a Business Plan.
So how do you make a Business Plan? That’s what you’ll find out as you read on.
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What is a business plan?
This is a document that will allow you to think about your future business.
Also, because of its positioning in the business creation process, it is a decisive element in seeking funding from investors.
So it’s better to spend time as you need to make a workable business plan. in your best interest to spend the time on what you need!
However, the business plan must answer the following questions:
Who are you (Legal form, shareholding, location, etc.)?
Who are you, and why should you be trusted (as an entrepreneur)?
What are you selling (product, service)?
Who are your clients?
What channels and means will you use (distribution network)?
What are the milestones of your project (schedule)Who are your competitors?
Which methods will you use (manufacturing process, suppliers, technology, etc.)?
What is the financial aspect of your project (Budget, type of funding, return on investment, etc.)?
How to make your Business Plan?
In order to answer the questions mentioned above, we offer you the following structure to make a Business Plan:
1 – Description of your Business Plan
Describe your strategy: nature of the activity, product (s), and/or service (s) you are going to develop.
2 – Description of yourself as an Entrepreneur and Possibly of your Team
Describe your profile and your experience (s) which enabled you to arrive at this project, and if you have decided to do this business project together, describe any other people associated with your project.
And if possible, demonstrate the complementarity of skills of your team, put your CVs.
3 – Inventory of Present and Missing Resources
List the resources you already have and those you need to start your entrepreneurial activity.
4 – Analysis of your Market
Analyze your market according to its geographic scope: France, Europe, World.
5 – Competitor Analysis
If you already have competitors, describe your current competitors, their size in terms of the number of employees, and what services and/or products they offer, and their specificities?
6 – Description of your Positioning
Describe how you stand out from the competition: niche market target, different marketing approach, specific prices, etc.
Present your price study in relation to those charged by the competition
Think about your future promotional materials: website, flyers, business cards, posters, etc …
7 – Choice and Registration of your Company name and/or Brands of your Services
Check that your company name is not already taken for the same type of activity. If you have a brand idea for your products and/or services, register your brand name (s).
Check that your brand name is not already in use by another company. Once you have registered your trademark, you will need to check from time to time that your brand name is not being used without your permission.
The Trade Mark Authority in each country provides you with legal information to protect your industrial property. To manage your brand activities, there are also companies specializing in trademark registration, and offering your business intellectual asset management software.
8 – Present the Model of your Website
For a business project related to creating a website, present your project with a site mockup. Look for a good host for your site on the one hand and also for email hosting for your future company.
9 – Financial Analysis
Present the provisional financial tables: income statement, balance sheet, and 3-year financing plan.
10 – Seek Financial Resources of your Business Plan
If your Business Plan aims to seek financing from capital investors, ask yourself how much to seek from them and in exchange for what percentage of the capital?
11 – Contact Information
Don’t forget to mention how clients can contact you!
A useful little book to help you make your Plan
You will find them online. These are for conscientious entrepreneurs who want to progress. I recommend to you as they are nice for their educational approach and its advice for developing a good Business Plan.
Conclusion
To conclude, I hope you now have an idea of the steps to start a business, and especially how to make a Business Plan.
Please feel free to share your experiences with us.
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