After we understand the meaning of a business plan and its types. So today we will learn together about how to create a good business plan document. Here is the explanation.
1. Do More Research Before Making a Business Plan
The first thing you should prepare is a variety of questions that will help you determine which product is the best. You can ask yourself about the unique selling point of your product, so that your product can look superior in the eyes of customers.
You also have to ask about why your customers or consumers should choose this product? Who is the target market? and when is the best time to introduce your product in the market? This 5W+1H-based question will really help you in running your business.
After that, do a market analysis to find out the business competition you want to enter. Market analysis or market research is very important to make the right strategy to make a good or bad policy. This market research can also help you in determining the company’s goals in the future.
2. Try to Create a Company Profile
A good business plan must have complete company information in detail. You can put this information in a company profile which includes the company name, office address, names of directors or commissioners, history of the company’s formation, industry, and products offered to consumers.
This company profile can also contain company assets, company vision and mission, and target market. By creating a good company profile, your company will have a good credibility value.
This means that you can use your company profile as an opportunity to sell your company to potential investors or potential customers. For that, you should place this company profile at the front of the business plan.
3. Define Your Business Goals
The existence of a statement of purpose in the business plan document is able to make potential investors or stakeholders understand the goals to be achieved by the company.
But, you also have to complete it with ways or steps in achieving these goals. For that, formulate various steps to achieve these goals, both in the short term and in the long term.
The existence of this statement also serves to secure your capital from potential investors. However, explain the underlying purpose of the funding in detail, then how the funding can make your business grow.
4. Prepare all the required documents
There are several other documents that you should need besides the company profile to increase the credibility of the company. For that, you need financial statement records, cash flow, license, etc. These various documents will become an important concern for investors before they finally want to invest their capital.
5. Describe in detail your goods or services
There are several aspects that you must explain well, namely an explanation of how the product works, the pricing model and the reasons behind the model, the main target customers, the reasons why your product is superior to other similar products, and marketing and sales strategies.
6. Make a Marketing Plan
A marketing plan is useful so that your business has a more solid marketing plan. In a marketing plan, you simply include the project background, vision and mission, problem statement, goals and objectives to be achieved, as well as your target customers.
In addition, you must also explain channel utilization related to your marketing channel, communication strategy to potential customers, as well as a timeline to ensure business projects are able to run on time.
7. Adjust to the Target Reader
Each type of business plan is intended for a different audience. Some are only for internal purposes, some are made specifically for investors and company leaders.
For certain parties, you only have to include specific things in this document. That way, you can focus more on emphasizing certain aspects that readers really need to understand.
That way, you can create several versions of a business plan. It’s just that you have to make sure there are various factual data in the business plan to avoid mistakes in the future.
Make Business Analysis and Financial Projections
For those of you who have a small business and plan to expand your business, then you must include the results of your company analysis. Some things that you must say at this point are the amount of income and expenses, as well as the balance sheet of assets and debts of the company.
The goal is to prove that your financial condition is healthy, so that you are ready to move up to a higher level i.
In addition, include your financial projections in this document in order to increase investor confidence. Because basically every investor wants to get a big profit from the funds that have been invested. For that, as an entrepreneur you must be able to explain that you are able to maximize profits.
You can also add sales results for a certain period, and estimated expenses and income for the next few years in the financial projection section. However, you have to make it realistic and accurate.
Well, in making financial reports and financial projections, you can take advantage of accounting software from Accurate Online. Why? Because this accounting software is able to display income and expenditure reports, as well as asset balances and company debts accurately, real-time, and easy to access.