Can you start a small business without a business plan? The answer is Yes, many small businesses do well and can even stay in the market for long. The downside is that sooner or later the chance of failure are high and annihilate the competition with no problem.
Although as they say never too late and you can always create one, the bad thing is that sometimes it is devoted the time or do not know where to start, that’s where it enters the workforce that is adaptable to any business .
The business plan from below is a basic template that can be used by any small business and represents the basis for a successful insurance to the time when you can spend more effort and upgrade to a more complex.
1. Start with a summary to see the whole picture and show it to investors. At this point should be emphasized points of your key business should be a concise and precise without going into much detail without losing the reader’s attention.
2. Continue with the analysis of your company to show investors and stakeholders on why they should invest in your business . Show your company’s success, the awards earned and other income activities that have significance for investors. If you are just starting then show why your company will be profitable.
3. Continue with the analysis of their customers to determine which ones are interested and can also purchase their products or services, if only focuses on those who love their products but can not afford it then you are wasting your money. This is a painstaking process and to collect all the details such as age, sex, place of residence , monthly income and all I can find for your target audience into sectors. Remember that you can not sell to everyone.
4. Analyze your competition from an external point of view, be honest and sincere in doing so because of this depends on who succeeds in overcoming it or not, and investors need this information to make a decision, they do not play with your money. For this is that planning to see the points for and points against, be sure to include industry trends, market developments and other changes or new developments in their sector.
5. Now comes the good, the market analysis. This section is how you will market their products and services, and of course the costs associated with this step. Investors will need to know how to present their products to potential customers, it may not be enough with the ads on television or radio, social networks and print media, invoke your creativity .
6. Administration , this is a whole world and not easy to do it alone so investors will pay special attention to this point, they are interested in management and operations analysis, ie who and how it will develop its business now and in the future. Describe the individuals that will move your company, its achievements and experience and above all say how they will help you make decisions every day, you grow your business and develop long term strategies.
7. Finally what really matters, financial analysis. Do not fuss much maybe just enough to outline the expected revenue from the sale of products or services, based on the potential market for sales, and other current developments in the industry as necessary . This section of the business plan should be precise and accurate, as well as realistic. Investors who put their money in new small businesses know they have a higher risk but is reduced by having real and objective data.