Every person in business wants a good profit and sales in his business. For this, we need to write a good business plan that will help you increase your sales and productivity. No degree is required to write a good business plan. 70% of the business owners recommend writing a business plan.
According to the surveys, a business plan grows 30% faster than a normal business plan which is not planned. A business owner or a beginner can write a business plan for growth.
The one thing that is “ A business idea or business concept is not a business plan.”
The first thing which comes to your mind is what is the business plan? Why do we need a business plan? And how can we write it?
Every lender and the investor demand a business plan for investing funds in your business. So, you must be to write an outstanding business plan for them. We will help you to write a quality business plan for the business.
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What is a business plan?
A business plan is a well-written plan which describes your business goals, product, services, cost, finance, sales, market value, etc…… A business plan describes the outline of your business. It will tell us about our business goals and explains how to achieve them. A strong business plan leads our inverter, lenders, or partners to invest in it.
Why do we need it?
● We need a strong business plan to increase the growth of the business.
● It will help us to show our ideas to the investor.
● I will also decrease the risk in the business.
● It grows 30% faster than the not planned business.
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7 Steps to Write a Good Business Plan
Seven main steps to writing a good business plan are given below :
- Writing an executive summary
- Describe product and services
- Do market analysis
- Outline the marketing and sales
- Describe your company organization and management team
- Make a financial projection
- Additional information in the appendix
Writing execution summary
The executive summary describes your business plan and the outline. It would be one are two pages. It will describe the goals and product of your business. Most investors only read the summary to whether they invest or not.
Describe product and services
It will describe the product that you are selling to the customers. We also write the services that we are providing to the customer. This step is also very important because a good product with a good market value leads to sales and profit.
Do market analysis
After Choosing the product, we have to find the market value of the product. Whether the sales of the product are good or bad nowadays, we have to check the product’s sales per day, per month, and year.
Outline marketing and sales
After checking the market, we have to analyze the product’s sales. We have to check the competitors who are selling this product. Then, we have to analyze the sales in the routines.
Describe the company and management team
After checking the sales and product, we have to describe your company’s name and the management team. A strong team is also very helpful in the growth of the business. The company name will be unique and related to the product.
Make a financial projection.
After this, you have to describe the financial budget and the cost required in your business. It will show the lenders, investors, and partners the financial cost. The less cost and the more profit is the priority in every business.
Additional information appendix
This step adds all the additional information about the business and the product. This step will lead to the end of the business plan.
Questions Asked by the investors?
● What is your product?
● What is product-market value?
● How to make money in this business?
● Why should I invest in your business?
● What is your sales rate?
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