What is a business plan?

A business plan is a written document that defines goals, activities, and resources needed, and is designed for the purpose of starting a new business, expanding existing business activities or obtaining a loan in a bank. In addition, the business plan allows for the set of business priorities, as well as the examination of internal problems and the use of opportunities in the market.

post4aAs an internal document, it is used by the management to look at the current state of the enterprise, define the steps to be taken in order to improve the situation and monitor the realization of the planned activities.

As an external document, it serves banks, potential investors, or strategic partners to decide whether to invest their money in the enterprise or not.

Structure of the business plan

There is no single, universal structure of the business plan, but each business plan differs depending on its purpose. The typical content of a business plan includes the following elements:

– Summary

– Description of the company

– Description of the project (business ideas)

– Description of products and servicespost4b

– Production and technological process

– Marketing plan

– Operational plan

– Management and organization

– Financial projections

The displayed form of the business plan can be adjusted, depending on which (or what) the business plan is intended for.

If a business plan is for internal purposes, the most common descriptive elements (such as a description of the company, its history, project description, etc.) are omitted, and the focus is on essential information, which should help entrepreneurs or managers in passing business decisions.

On the other hand, if a business plan is made for external needs, its form is adapted to provide exactly the information that interests the other party. For example, credit officers in the bank are very important in detailed financial projections of the profit and cash flow statement, on the basis of which they assess the credit risk, while potential investors are most interested in static and dynamic project evaluations (profitability, return on investment, net present value, internal rate of return, analysis, etc.).

 Why entrust us with the development of a business plan?

post4cCreating a business plan is essentially nothing excessively complicated – anyone who has the basic economic knowledge and has all the necessary input information, with enough patience and persistence, can write his own business plan himself.

Why then hire someone to do it for you?

The most common reason is the lack of time. Probably in your job, you have a lot of obligations and you just can not find the time to sit down and write a business plan. Or you may urgently need a loan from a bank, so you do not want to wastefully waste your time and wait for your money to pay off.

Another possible reason is the lack of knowledge and experience. If you are not an economical profession, you probably are not very clear to all those powerful professional terms that are being used. Or you may have never written a business plan before, so you are not completely sure of yourself?