Your business plan must include a statement of your current business needs and projected needs for the next three to five years. Your inventory management systems and accounting should be able to produce reports to date.
You can include:
• activities on a daily basis – give a general description of the daily activities of the company, such as opening hours, the seasonality of the business, suppliers and their credit terms, etc..
• space requirements – specify the size and location required. Join in the appendix of your business plan all relevant documents such as lease agreements and suppliers’ prices. Identify the special needs of premises and include in the appendix any document relating to permits.
• information systems management – indicate how you plan to control inventory, manage accounts, and ensure quality control and follow-up with clients.
• needs of information technology (IT) – IT systems indicate that you use for your business. Since this is a key factor for most companies, specify whether you use a consultant or service IT support and describe any planned development in IT.
You may also attach your operating manual in the appendix of your business plan.
• Management and Operations
Learn how to find the type of business you want, how to manage the production process and how to avoid risks.
Analysis of strengths, weaknesses, opportunities and threats
SWOT analysis is an important part of business planning. A well prepared SWOT analysis shows investors that you have considered these elements realistically and objectively.
Banks and other lenders know that companies experience difficulties at some point, and they want to know how you will address these challenges. Remember that to overestimate your strengths and opportunities or to ignore the potential problems will undermine your credibility.
Spend the time and effort required to complete a SWOT analysis. This exercise can help you:
• make informed decisions and develop good plans for the future;
• anticipate problems and make the necessary changes;
• set aside resources to take advantage of opportunities that may arise.
• Assess the health of your business
Periodic evaluation of the health of your business is critical to your planning cycle continues.
• Isolate the possibilities inherent in your current business
expansion of your business is she a golden opportunity that you are about to let out? Your current activities could earn you more than you think.